{"id":35497,"date":"2022-06-03T20:26:19","date_gmt":"2022-06-03T20:26:19","guid":{"rendered":"https:\/\/harchi90.com\/new-latino-media-startup-launches-with-historic-80m-raise\/"},"modified":"2022-06-03T20:26:19","modified_gmt":"2022-06-03T20:26:19","slug":"new-latino-media-startup-launches-with-historic-80m-raise","status":"publish","type":"post","link":"https:\/\/harchi90.com\/new-latino-media-startup-launches-with-historic-80m-raise\/","title":{"rendered":"New Latino media startup launches with historic $ 80M raise"},"content":{"rendered":"
Latina activists and entrepreneurs Jess Morales Rocketto and Stephanie Valencia have raised $ 80 million to launch a new Hispanic media company called the Latino Media Network.<\/p>\n
Why it matters:<\/strong> It’s one of the largest capital raises for a Latina-owned and operated startup in the US<\/p>\n Driving the news: <\/strong>With the capital, the duo has acquired 18 Hispanic radio stations across 10 markets from TelevisaUnivision.<\/p>\n The startup has recruited <\/strong>dozens of high-profile Hispanic celebrities, entrepreneurs, media figures and investors to join its cause.<\/p>\n Catch up quick: <\/strong>Valencia formerly served as a special assistant to former President Obama and the White House’s principal deputy director of public engagement.<\/p>\n Between the lines: <\/strong>Latino Media Network said it will focus on media content creation and distribution across all mediums, with a specific focus on audio to start.<\/p>\n By the numbers: <\/strong>Radio has the highest weekly reach among Hispanic adults in the US at 96%, compared to 92% of the total population, per Nielsen. Radio engagement among Hispanics ticked up dramatically during the pandemic.<\/p>\n How it works: <\/strong>From a business perspective, <\/strong>the company says it will make money from advertising against the radio content and in the future, syndicating content to other stations.<\/p>\n The big picture: <\/strong>The Latino Media Network raise and TelevisaUnivision deal represent the latest major moment of momentum for Hispanic media.<\/p>\n Bottom line: <\/strong>“So often our stories have been erased or invisible. In some ways, you wouldn’t know that Latinos will be the principal part of the US population in our lifetime,” Valencia said. “Us being able to bring a sense of belonging, influence and power to this community is incredibly important.”<\/p>\n What’s next: <\/strong>The company is hiring an executive team, including a CEO, to start recruiting talent and managing the TelevisaUnivision-owned assets.<\/p>\n Editor’s note: This story has been updated with additional comment from Morales Rocketto about the company’s politics.<\/em><\/p>\n<\/div>\n .<\/p>\n","protected":false},"excerpt":{"rendered":" Latina activists and entrepreneurs Jess Morales Rocketto and Stephanie Valencia have raised $ 80 million to launch a new Hispanic media company called the Latino Media Network. Why it matters: It’s one of the largest capital raises for a Latina-owned and operated startup in the US “It’s pretty audacious for people like us to be …<\/p>\n\n
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