MIAMI, June 20, 2017 /PRNewswire/ -- Luis Villanueva, an executive in the Spanish entertainment industry and CEO of audiovisual production and distribution companies, announced the creation of SOMOS Group (www.somosgroup.com) to stimulate synergies among the companies under his management. SOMOS Group will facilitate the growth of SOMOSTV, SOMOS Productions, SOMOS Distribution and SOMOS Next with content producers and distributors among clients in different regions, whether on traditional platforms or new digital technologies.
Luis Villanueva, President and CEO of the SOMOS Group of companies, stated: "We participate in different phases of audiovisual entertainment. Our companies have grown and reached a size such that coordination and pooling of services are advised, which will produce synergies, maintaining independence. This activity is now assumed formally, since the evolution of the industry is leading to the leveraging of resources. I believe that this will be good for the business at a time when our clients and the audience have more contact due to the growth of new distribution models and habits of content consumption."
SOMOSTV produces paid television channels in Spanish in North America (excluding Canada), Central America, Panama and the Caribbean. Its channels ViendoMovies and Semillitas enjoy wide distribution through "TV Everywhere" applications, including "On Demand" content. SOMOS Next participates in the "Over-the-Top" market (Internet), distributing content in the United States and Puerto Rico in "On Demand under Subscription," applications and television under its brands FlixLatino and Pingüinitos. SOMOS Distribution distributes content globally (with emphasis on the Spanish-speaking market) in all industry windows (paid television, free television, OTT, etc.), and SOMOS Productions produces audiovisual content in all genres. Luis Villanueva stated: "With the globalization of television and the overlap between windows, the integration of content distribution in all its forms and genres as well as its production, there are many areas that we hope to develop to the benefit of our shareholders and clients. Today, content development has to consider these points of contact to maximize yield."
SOMOS Group will create synergies for the companies among the different areas, including business development, the legal department, finance and marketing support.
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