NEW YORK, Oct. 9, 2018 /PRNewswire-HISPANIC PR WIRE/ — Despite advances in multicultural programming, the television industry is still missing the boat on a giant opportunity with huge profit potential according to Olympusat CEO Tom Mohler, who was the keynote speaker at the 16th Annual Hispanic TV Summit in New York.
Having founded one of the largest independent media companies specializing in the ownership, distribution, production and technical services of Spanish and English-language networks, Mohler discussed the demand for scripted content targeting multicultural audiences and how his firm has worked to meet that demand during the Oct. 4 Keynote Super Session on New Directions for Serving Hispanic TV & Video Audiences.
Available statistics on Spanish Pay-TV and OTT (Over The Top Platform) in the U.S. back that up. “There are only 5 million Spanish tier subscribers in the U.S. and that’s out of the 25 million homes that have at least one Spanish-dominant person. The TV market in Spanish is earning $6 billion in ad sales per year and the vast majority of it is spent on broadcast. We created VEMOX™ as a solution to this challenge, as a way to gain critical mass while at the same time helping our partners reach cord-nevers and cord-cutters,” Mohler said.
VEMOX™, Olympusat’s OTT B2B platform, supports programmatic advertising, combining technology and a vast library of VOD and live channels. “The high demand for multicultural content is shaking the foundation of the industry. There is a huge opportunity for scripted content. As of 2017, in all the Americas there were only 150 scripted shows being produced in Spanish, 75 of which were telenovelas. While in the U.S. alone there were 600 scripted shows being produced in English. VEMOX™ is currently trying to breach the gap by offering 10,000 hours of new VOD (Video On Demand) content per year, which translate to 30 hours of refreshed scripted content per day,” he added, noting Olympusat’s content is comprised of original productions, dubbed content from Europe and Asia and licensed in-language content from the U.S., Spain and Latin America.
Olympusat provides Spanish dubbing services in its Mexico City facilities for the USA and Latin-American Hispanic market.
About Olympusat, Inc. (www.olympusat.com)
Based in West Palm Beach, FL, Olympusat, Inc. is one of the largest independent media corporations specializing in ownership, distribution, production and technical services. The company has established itself as a leader in the Hispanic television and media space through its 60-plus HD Spanish and English-language television networks, among them the top-rated Spanish-language movie channel Cine Mexicano, Ultra HD Plex, and a distinctive religious channels and Specialty Suite representing some of the biggest networks in the industry. Olympusat has launched VEMOX, the white label OTT TV Everywhere B2B solution, available for download in Apple Store, Google Play Store, Apple TV, Xbox One, and Samsung Smart TVs. To learn more about Olympusat and Vemox, please visit olympusat.com, vemox.com
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SOURCE Olympusat, Inc.