Beatriz Acevedo describes the scale achieved by digital media and multi-channel network mitú.
Disclosure
Acevedo: mitú board rejected DTC monetization to preserve VC view metrics
“So whenever I would bring up to my board, hey, should we be doing direct-to-consumer anything? Should we be charging one dollar for premium content that people could not get enough of? The answer immediately was absolutely not. You cannot disturb those numbers…”
Insight
Acevedo: Translating fintech apps into Spanish alienates young US Latinos
“That's the last thing you need to be doing because that sends a very powerful message that that's not for them, that that's for their parents or grandparents.”
Assertion Not checkable as stated
Acevedo: Hollywood executives refused to hire Latino talent brought directly to them
“Even if heads of networks and studios would say, we can't find the Latinos, and you would bring them to them, they would Still not hire them.”
Insight
Acevedo: Multi-channel network economics broke when YouTube enabled direct creator monetization
“The model of an MCN, or the model when you are on rented territory, for the lack of a better word, you're on YouTube, you're on Facebook, those algorithms change, those rules change. Also, your economics, talking about business model, because when we launched,…”
Assertion Contradicted
Acevedo: 60% of educated Latinos remain underbanked in the US
“So even when Latinos are in the workforce, even when they have college degrees, They're still 60% not fully banked or not fully utilizing the financial services of this country”
Opinion
Acevedo: Mainstream digital media platforms treated Latino verticals as mere afterthoughts
“It's always an afterthought. It's never the main focus. You know, even BuzzFeed, BuzzFeed had a really good vertical for a while, but it wasn't their main business. It wasn't their sole focus.”