Cisneros Group’s Venevision International Launches on Comcast “VeneMovies” : America’s First Full-Featured U.S.-Hispanic Cable Movie Channel
New Cable Channel Premiering on Comcast Offers Vast Film Selection From Current Hits to Classics
Venevision International -- a member of the Cisneros Group of Companies and the largest Spanish-language film distributor and producer in the world -- today announced that its VeneMovies channel has launched on Comcast cable systems. VeneMovies is the first full-featured Spanish-language film channel ever offered in the U.S.
The new 24-hour, commercial-free, cable channel is the first movie channel aimed at fully serving the needs of the more than 40 million Hispanics living in the U.S. Beginning today, Comcast will add VeneMovies to its CableLatino Hispanic programming package. Comcast currently offers the CableLatino Hispanic programming package in more than 15 markets across the country, including Miami, the San Francisco Bay area, central California, Boston, Chicago, Philadelphia, central and northern New Jersey and Albuquerque.
VeneMovies will – for the first time ever -- offer these and other viewers across America the best in modern, contemporary and originally-produced Spanish-language entertainment including award-winning films from Mexico, Colombia, Peru, Chile, Venezuela, Spain and the rest of the Spanish-speaking world. The target audience is U.S.-Hispanic households, both Spanish dominant and bi-cultural, as well as all lovers of great independent film. VeneMovies will add English subtitles for all of its movies in the coming weeks as well as 20 hours of video-on-demand programming a month to the Comcast ON DEMAND en español service.
U.S. Hispanics are already voracious consumers of film entertainment. This fastest-growing U.S. consumer market eagerly attends film openings (17% of all tickets sold) and watches more movies, DVDs and rental movies per year than any other segment of the U.S. population. "The Cisneros Group sees VeneMovies as another new opportunity that will benefit from the Group's extensive experience in serving the needs of the Hispanic consumer and leveraging our diverse media assets. Supported by our Venevision International subsidiary, the leading and most diversified entertainment company in the Hispanic market, VeneMovies will benefit from its association with what has become a powerful media conglomerate," said Gustavo Cisneros, Chairman of the Cisneros Group. "This is also another example of the revolution taking place in American culture and business that reflects the growing importance of the U.S.-Hispanic market and our deep commitment and involvement in its growth," Mr. Cisneros said.
"We are pleased and excited to be joining forces with Comcast, the nation's leading provider of cable entertainment, to launch a channel that supports and promotes the Latin film industry," said Luis Villanueva , President & CEO of Venevision International. "We see VeneMovies as a prime destination for all movie lovers and a window for Latino film talent to show their exciting new work," he said. "Our slogan: "Enjoy It With Pride" reflects our commitment to showcasing to U.S. viewers the power and artistic excellence of the world of Spanish-language film, "Mr. Villanueva said. "The channel is also designed to appeal to all the varied nationalities that comprise the U.S.-Hispanic market, offering films of different genres (action, Romance, drama, comedy) from every Spanish-speaking country," he added.
VeneMovies effectively complements the existing Spanish-language "classic" films currently available in the Hispanic packages offered on cable television throughout in the United States. The new channel provides access to the growing number of high-quality films available from Spanish-speaking countries. These modern Spanish-language films have been box-office hits with audiences around the world and helped launched the Hollywood careers of Hispanic film stars who are now household names in the U.S.
"Comcast is excited to work with Venevision International to make this powerful and compelling film library available to U.S. Latinos for the first time with a brilliant new channel that fully exploits and develops this library's considerable riches," said David Jensen Vice President of Content Acquisition for Comcast. "We think VeneMovies will quickly find an enthusiastic and lasting audience for whom great Spanish-original, theatrically released films will complement the lineup of programming that tells their stories on today's television screens."
VeneMovies premiers on Comcast this week and will soon be offered by other major cable TV providers in selected markets throughout the U.S.
About Venevision International
Venevision International is an entertainment production and distribution unit of the Cisneros Group of Companies. Established more than 30 years ago, its activities are an integral part of the business development strategy designed by Gustavo Cisneros, Chairman and CEO of the Cisneros Group of Companies. Venevision International is a global distributor of television programming and is one of the largest independent producers of Spanish-language television programs in the world. Venevision International also distributes Spanish-language films for theater, pay-per-view, home video, paid and broadcast television in the United States, where it also does business through its own record labels Vene Music and Siente Music and markets "audio books" through its "Fonolibro" unit. The company also produces stage productions in Spanish at its own theater in Miami. It is also a pioneer in the area of "advertainment" (product integration) through its Synapsis International unit.
Comcast Corporation (Nasdaq: CMCSA, CMCSK) (http://www.comcast.com) is the nation's leading provider of cable, entertainment and communications products and services. With 23.3 million cable customers, 10 million high-speed Internet customers, and 1.6 million voice customers, Comcast is principally involved in the development, management and operation of broadband cable systems and in the delivery of programming content.
Comcast's content networks and investments include E! Entertainment Television, Style Network, The Golf Channel, OLN, G4, AZN Television, PBS KIDS Sprout, TV One and four regional Comcast SportsNets. Comcast also has a majority ownership in Comcast Spectacor, whose major holdings include the Philadelphia Flyers NHL hockey team, the Philadelphia 76ers NBA basketball team and two large multipurpose arenas in Philadelphia.
About The Cisneros Group of Companies
The Cisneros Group of Companies (www.cisneros.com) is one of the largest privately held media, entertainment, telecommunications, technology, and consumer products organizations in the world. The Group owns, or holds interests in companies ranging from broadcast television networks and pay television services, to beverage businesses and supermarkets. Through its diverse businesses, the Cisneros Group of Companies delivers some of the top brands and the highest quality services to the 550 million Spanish- and Portuguese-speaking consumers in the Americas and Europe. The Group has recently expanded its activities from Ibero-America to countries worldwide.