MIAMI — They may have traditionally been considered different channels – but Dan Riess thinks social and streaming are colliding.
In this video interview with Beet.TV, Riess, EVP, Chief Growth Officer, TelevisaUnivision, says his company, the Hispanic broadcaster, is seeking audiences with a “social-first” approach.
He was speaking with Beet.TV at POSSIBLE 2024.
Social-First Approach
Riess highlights the rising prominence of social-first strategies within the advertising space.
TelevisaUnivision’s strategy is to work closely with partners to ensure success on social media platforms and to adapt the content and creative efforts for cross-platform delivery.
“The content creator economy [is] moving its way through all platforms,” Riess points out, signaling a significant shift in how streaming services may operate in the near future.
Upfront announcements
At its Upfronts presentation, TelevisaUnivision announced ViX, its global Spanish-language streaming service, hit 50 million monthly active users globally, while streaming video reach also grew 70% year over year in the U.S..
The platform began its own ad streaming tier on May 15, with new ad formats including contextual and interactive, plus commerce and social.
The company also unveiled a raft of new programming across music, entertainment and other genres. It announced Sistema Uforia, an always-on capability for brands to tap into the company’s Latin music offerings.
Streaming: The Next Frontier
The evolution of streaming advertising is a particular focus for Riess. “Streaming today is a more targeted and sophisticated linear box that’s on demand,” he describes.
However, he anticipates a dynamic shift where “streaming tomorrow is going to be a real blend between what you see in social and what you’re seeing today in horizontal content.”
This blend, Riess believes, will revolutionize the way streaming services present content and advertising, making way for new ad products that resonate with the social-first generation.
“We’re doing a lot with partners, not just to invest and help them be successful in social media, but also to take the content and the creative that they’re making for social media and deliver that across our platforms with vertical ads,” Riess elaborates.
A Cultural Platform for Connection
TelevisaUnivision claims the Hispanic US economy is growing at twice the overall speed.
“Harnessing the power of Latin culture in the United States is crucial,” asserts Riess.
He emphasizes the need for brands to authentically connect with consumers, stating, “It’s about being authentic and being in culture with advertising, being in culture with talent, relationships across the board.”
Advertisers are being encouraged to look beyond traditional approaches and consider the cultural relevance of Hispanic culture. According to Riess, “The importance and relevance of Hispanic culture right now” are key, and advertisers should navigate this in a way that’s “really beneficial and supercharging for your brand.”
