Univision plans ad-supported streaming service launch in 2021: report

Univision, a U.S.-based Spanish-language broadcaster, is reportedly planning to jump into the streaming video space with a new ad-supported service.

According to Bloomberg, the broadcaster is eying a launch in the first half of 2021 and plans to fill out the streaming service with library content from Grupo Televisa SAB. The company has yet to decide on a price for the service but will reportedly hold back new episodes of current TV shows to avoid upsetting its pay TV partners.

The streaming service launch is reportedly a high priority for Wade Davis, the former Viacom chief financial officer who now serves as CEO at Univision. Davis led an investment group that acquired a majority stake in Univision earlier this year.

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“I am honored to be partnering with Televisa and Searchlight to help steward Univision into this next phase. Univision’s leadership and connection with one of the most important audiences in the U.S. today creates an amazing platform to drive innovation, build market-defining content and create an even deeper relationship with its audience," said Davis in a statement.

Univision in 2015 launched a streaming service called Univision Now which, for $5.99 a month or $59.99 a year, provides live streams of Univision and UniMás along with some on-demand content and DVR functionality. According to the report, Davis believes Univision didn’t do enough to push the service.

Univision is the largest Spanish-language network in the U.S. It competes with Telemundo, which offers some of its programming through NBCUniversal’s ad-supported streaming service, Peacock.