In less than a year, MiTú has gone from under 20 channels to over 450. In less than one year, it’s gone from under 100,000 subscribers to 3.2 million. And in the same amount of time it’s gone from under 250,000 monthly views to 47 million monthly views.
Online video is still in its infancy, and dynasties are still being born. For evidence, just look to MiTú. In a South by Southwest panel, Beatriz Aceveo, founder and president of the MiTú Network, explained how she and her team created a thriving video hub, and how you can, too.
MiTú is a Latino-focused content hub on YouTube, It offers many channels, all under one umbrella. By grouping channels together in that way, viewers can easily find other content they’ll like and advertisers can easily find targeted viewers. Acevedo explained that allowing creators to run their own channels also empowers them. “We are very proud to have formed a community of them,” Acevedo said.
For those wondering how to start a network on limited means, Acevedo posed a few questions. Is content really king? Yes, but great content without a platform is invisible. It’s like a kind without a kingdom, she said. Banding together gives creators more of a chance to be successful.
What about quality? Do videos need strong production values? Acevedo said that she and her team were humbled in their early efforts to create lavish, heavily produced videos, only to attract few viewers. When other videos with far less production and care attracted far more viewers, she discovered that content has to be relevant and has to be presented by a social influencer with a lot of followers to gain traction.
“Sometimes relevance is greater than good lighting,” Acevedo said.
Hoping to persuade other creators and advertisers to target the Hispanic market, Acevedo said that U.S. Hispanics currently represent $1.0 trillion in annual buying power, and are growing quickly. They also over-index on tech adoption and mobile device use, she said, adding that Hispanics watched videos on mobile devices more often than the average population.
YouTube has given birth to a new kind of star, Acevedo said: real people with millions of followers. For companies looking to serve a targeted demographic with online video, go out and make a name for yourself. The time is still young.