GoDigital Media Group (“GoDigital”), the owner of mitú, announced the acquisition of NGL Collective with backing from MEP Capital, an investment firm focused on media and entertainment. The new entity will retain the name of NGL Collective.
As part of the acquisition, NGL Collective (“NGL”), a leading Latinx next-generation digital media and entertainment company co-founded by actor and activist John Leguizamo and industry leader David Chitel, is merging with mitú from GoDigital. The new entity will be retain the NGL Collective name. It claims to be the nation’s largest 100% Latino digital Latinx media company, helping advertisers connect with this coveted audience, regardless of age or language preference. NGL will speak to a network of Latinx creative and media partners, reaching America’s Latinx communities through an array of social media and editorial sites, in-person and virtual community events, and published research. Digital media in all its facets, including influencer marketing, social media and CTV, has become the predominant way to target and engage the GenZ consumer (check out our recent interview with Tecate’s Belen Pamukoff).
This unprecedented business combination furthers our mission to be the premier Latinx next-generation digital media and entertainment company in the United States.
“Latinx media consumption is exploding. NGL’s expertise in Latinx media solutions and our shared commitment to culturally relevant creativity make it a great addition to GoDigital’s portfolio,” said Jason Peterson, CEO of GoDigital Media. Group.”This acquisition cements our presence in the Latin American media space.”
Mitú, a former heavily funded multi-channel Youtube network
Mitú, started as a multi-channel YouTube network targeting the LatinX consumer in 2012. The company has secured over US$50 million in funding from investors including the Chernin Group. In February 2020, mitu was acquired by Latido Networks, a subsidiary of GoDigital. Latido Networks owns Latin music-focused multichannel YouTube network VidaPrimo, and also acquired a double-digit minority stake in podcast company reVolver Podcasts. “It’s really a ‘zip’ concept, meaning they deliver a lot of what our other brands (specifically Latido) were looking to build, and we have the infrastructure and media impressions that will help mitú leverage its brand reach even further,” a Latido Media source told Portada at the time.
mitú acquires NGL Collective: consolidation in the Hispanic digital media sector
The acquisition of NGL Collective by mitú is another step in the consolidation of the Hispanic digital media sector. Consolidation in the Hispanic digital media sector includes recent transactions such as MyCode’s purchase of Impremedia and TelevisaUnivision’s acquisition of Vix, formerly Batanga, in February 2021.
NGL’s premium Latin video, on web, mobile, social media and connected TV and #1 comScore ranking, combined with mitú’s community of over 13 million social media followers and web visitors , will deliver an unparalleled video experience for consumers and advertisers. With the combined market presence of the mitú brands, including wearemitú, somosmitú, FIERCE, crema, and Things That Matter, and the NGL brands, comprised of Latina Moms, Hispanic Kitchen, and Hispanicize, the new NGL community will be the largest gathering of Latinx influencers, content creators, entrepreneurs, trendsetters and innovators in media and entertainment around the world. NGL’s Emmy®-nominated in-house production team will also partner with mitú’s social content and brand studio team, which operates mitú Studios, a 14,000 square foot studio located on the Eastside of Los Angeles.
Digital media in all its facets, including influencer marketing, social media and CTV, has become the predominant way to target and engage the GenZ consumer.
“Latinos are the largest ethnic group in the United States, accounting for 11% of purchasing power, yet their input is routinely excluded from media and entertainment,” said John Leguizamo, co-founder and partner of NGL Collective. “With NGL Collective and mitú’s shared commitment to amplifying the voices of the Latinx community, our platforms and reach will expand. We will create more opportunities for Latinos in front of and behind the camera to speak directly to our community and influence how America sees us and how we see ourselves.
“For ten years, mitú has built its legacy by building communities and ensuring that Latino voices are heard. Joining forces with NGL allows mitú to continue to create brands, cultural content and experiences that resonate with and represent the diversity of the Latino community,” said Vanessa Vigil, Chief Brand Officer, NGL Collective (former managing director of mitú). “It’s exciting to bring these companies together in a common mission, with complementary solutions, and to be among the leading mitú and NGL brands in the next decade.”
NGL will be led by current CEO and Founder David Chitel, with creative support from partner John Leguizamo. Vanessa Vigil will transition from managing director of mitú to chief brand officer of NGL. Ben Leff, NGL’s chief operating officer, Ben DeJesus, president of NGL Studios, and Joe Bernard, NGL’s chief revenue officer, will continue in their roles. Stephen Brooks, president of mitú and Latido Networks, will oversee the integration of the two companies, focusing on bolstering GoDigital’s investments in Latinx media.
“This unprecedented business combination furthers our mission to be the premier Latinx next-generation digital media and entertainment company in the United States,” concluded David Chitel, CEO of NGL Collective. “The power and influence of Latino America deserves a company like NGL to focus exclusively on connecting advertisers with our coveted audience in language, culture and context. The depth of our newly expanded offering, including mitú , makes us by far the leader in our space.