Introduction
The Latino community is underrepresented in American movies and series. Latinos born in the United States are not seeing their realities on the screen. To bring more diversity to the Latino public, Fanny Grande and her husband, Nelson Grande, are launching their streaming platform. We contacted Fanny to understand how her long experience in the movie industry helped her identify the problem and build a solution consumers will want.
Funding Round Details
- Company: Avenida Entertainment Group Inc.
- Security Type: SAFE
- Valuation: $9,000,000
- Min Investment: $100
- Platform: Wefunder
- Deadline: Feb 5, 2024
In your own words, how would you describe your company?
Avenida is a media-tech company committed to democratizing access to Hollywood for under-represented communities, focusing on the Latino community.
What inspired you to take the leap and start this company?
I started my career as an actor and quickly realized the roles available for me or fellow other Latinos were very few and mostly negative stereotypes. Not only does this affect how we’re perceived as a community, it also affects how we see ourselves and what we think it’s possible, so I decided to do something about it. I started creating my content young and discovered how to get my projects funded, produced, and distributed outside the Hollywood system. Now, we teach others how to do the same and take charge of their careers.
What do you need to get your platform ready to launch?
At this time, we only need to close our funding gap. We have lined up distribution, technical platforms, content, marketing strategies, and more.
Do you already have partners such as distributors or advertisers - and who are they?
Our technology partner has secured distribution on Roku, Apple TV, Fire TV, iOs, Android, and several fast channel distributors, as well as OTA. We are working with several big and local brands as well.
We are also excited to have the support of many community organizations, celebrities, influences, and more who will help us get the word out about our platform.
How much revenue will you need to break even- and what would be the size of your audience at this point?
We project to be profitable by the end of 2024. Our goal is to have 10,000 active subscribers by then. We already have thousands of pre-sign-ups, so the 10,000 figure is a conservative projection.
There are already very successful streaming platforms on the market. How can you build a successful platform too post-pandemic?
Although streaming platforms exist, no large platform caters to the U.S. Latino consumer, leaving a large consumer market untapped. U.S. Latinos consume $4B annually in streaming. Latinos represent 19% of the U.S. population, yet they account for 42% of the country’s most-watched content on streamers, almost 9% higher than the general market. 61% of Hispanics say that streaming is their primary destination for TV viewing. U.S. Latinos are 60% more likely to watch a show with at least one Latino actor. We have built the trust of not only the Latino creative community in Hollywood but also audiences who trust us to deliver top content that represents them.
