VIVA Entertainment Group an innovative IPTV OTT public venture, has signed a deal to invest $6 Million for a 49% equity stake into a joint venture company co-owned with Oi2 Media Corp. Oi2 is the country’s largest provider of Latino focused content and services to major broadcast and digital media companies such as iHeart Media and Univision Radio. Oi2 under its radio syndication and digital divisions provides distribution of world-renown branded content.
The name of the joint venture is “Oi2 TV, LLC.” This venture marks VIVA’s most significant investment yet with a single audio media partner. In doing so, VIVA is betting on Oi2’s ability to break through to consumers via a variety of platforms that include both terrestrial and digital radio and video services, as well as, creation of music festivals and concerts that will be televised in addition to VIVA’s live TV IP delivery capabilities, video on demand, and other interactive channels of distribution.
“Radio is a viable and important medium to most of our client base, especially our retail partners,” said VIVA Entertainment Group CEO John Falcones. “For several of our retail distribution partners, driving traffic to our retail consumer locations using radio is a very cost effective promotional vehicle.”
“This business effort is not about shifting economics from one channel to another,” Mr. Falcones said. “It is more about focusing on deeper partnerships through a focused list of suitable partners. A combined effort with a rooted focus on bottom line revenues coupled with the venture’s monthly reach of hundreds of millions of people engaged with the content via traditional and social media outlets is certainly a proposition for VIVA’s sustainable income and growth. VIVA and Oi2 Media’s combination exceeds a monthly reach of 4.5 billion people, 121.7M monthly socially media engaged users , 100 million social media followers, 33.5 million social media referrals and over 300 thousand e-mail subscribers to begin with.
“People in today’s world consume information and entertainment via multiple channels and media outlets. We see the trends in fragmentation in consumer habits and feel a compelling reason to be there when and where our audience and consumer is no matter on what platform,” commented Anthony M Hernandez, CEO of Oi2 Media Corp. “This venture will allow both companies to leverage their respective content and audience reach to new heights. The introduction to concepts such as, Oi2 Visual Radio and other new elements that combine pictures with sound is where we need to be. With Oi2’s vast platform of hundreds of audio and live TV channel offerings plus on demand audio and video content positions us to grow our direct reach to consumers everywhere.”
As part of the venture, VIVA will provide to Oi2 TV with a string of live TV channels for a subscription based service that will be marketed via the Oi2 Media App.
About Oi2 Media Corp
Oi2 Media Corp (www.Oi2networks.com) is a leading global provider of millennial and multicultural focused audio and video content programming services. Oi2’s current footprint spans throughout the digital space and across a territorial broadcast and digital media presence in 33 countries via a network 1,700+ radio station affiliations and digital distribution on mobile and satellite media platforms including iHeartRadio, TuneIn, SiriusXM Satellite Radio, and more.
As a premium provider of content, Oi2 operates a slate of 24×7 audio streams with a diverse menu of music, news, sports, and entertainment genres. Plus over 100+ daily marquee branded content features, talk and specialty shows. Some of the Oi2 menu of brands include ESPN Deportes Radio; NBC-TELEMUNDO; ALMA Exitos Positivos; Escuchame Tu Show Prep Service; and much more. For more information visit our websites: www.Oi2networks.com.