Lips in spanish language
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Moctesuma Esparza, producer of the 1997 film “Selena,” built his Pasadena-based theater chain Maya Cinemas with a strategy to serve underscreened neighborhoods, including working-class areas dominated by Latinos. Hispanics and Latinos were the top moviegoing group per capita in 2019, trekking to cinemas 4.7 times a year. In the U.S., the Latino and Hispanic population continues to grow, surging past 60 million in 2019. Latinos consistently accounted for a disproportionate amount of moviegoing before the pandemic, yet they are severely underrepresented onscreen and behind the camera, including at Netflix, as my colleague Fidel Martinez has written in his newsletter, the Latinx Files. It’s easy to see why streamers and studios see a gold mine. But honestly we feel that’s a conservative goal and that the opportunity is two to three times that.” “We’ve set a stated goal of 2.5 to 3 million subscribers by 2025. “There’s so much more we can do, and the opportunity is so much greater,” Hemisphere CEO Alan Sokol said in an interview after the deal. Miami-based Hemisphere in April paid Lionsgate $124 million for the 75% of Pantaya it did not already own, with the aim of growing it by investing in content. On a smaller scale, Hemisphere Media Group sees a growth opportunity in its Los Angeles-based streaming service Pantaya, which focuses on Spanish-speakers in the U.S.
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NBCUniversal’s Telemundo last month announced a new studio, called Telemundo Streaming Studios, dedicated to producing content for streaming platforms, including the sister service Peacock. The following month Univision acquired Grupo Televisa’s content and media assets, which were valued at $4.8 billion, in a move to create a Spanish-language supergiant as competition ramps up. Univision in March launched PrendeTV, a free, ad-supported streaming service for the U.S. WarnerMedia will invest heavily in Latin American markets with HBO Max. Disney, which launched Disney+ in Latin America in November, has said it plans to make 70 original programs for the region. Netflix spent $200 million in 2020 to produce content in Mexico, an amount expected to increase this year, and has also invested significantly in Spain.