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mitú
Founded2012
HeadquartersLos Angeles
Founder(s)Beatriz Acevedo, Roy Burstin and Doug Greiff
IndustryEntertainment
ServicesMultiChannel Network. Brands: We are mitú, Somos mitú, Fierce, Crema by mitú, Things That Matter.
ParentLatido Networks [1]
URL wearemitu.com

Mitú (stylized in all lowercase) is an English-language Latino media company, multichannel network (MCN) and digital content publisher. [2] In 2016, the network became the largest Hispanic focused digital channel in the world with 2 billion views per month. [3]

Background

mitú was founded in 2012 by Emmy award-winning Beatriz Acevedo, Doug Greiff and Roy Burstin. [4] The networking conglomerate achieved 40 million subscribers across 1200 partner channels by 2014. [5] The company's YouTube channel (we are mitú) has 373,000 direct subscribers as of May 2020. [6] mitú is headquartered in Los Angeles. [5] [1]

Peter Chernin put together a $3 million investment vehicle to initially fund mitú in 2012, [1] and in 2014, Disney's Maker Studios followed with second round funding of $10 million. [5] By 2016, the network was serving 2 billion video views per month on Facebook and YouTube. Series C fuding, which included Verizon, brought venture funding levels to $43 million. [3] In 2018, Acevedo and several top executives were cut from mitú in a reorganization when Maker Studios was folded into Disney Digital Network. [7] [8] Latido Networks, a division of GoDigital Media Group, acquired mitú in early 2020 [1] ,its e-commerce shop mitushop.com and, Latino TV Channel Mitu TV. Their brands include wearemitú, somos mitú, Fierce, crema and Things That Matter.

Allegations of Mismanagement and Non-Payment

In January 2024, allegations surfaced against Mitú Inc. with accusations of financial mismanagement and non-payment made by various YouTubers. Among those speaking out was Holly, a prominent YouTuber with over 3.39 million subscribers on her channel "Superholly". In a video posted on her channel, Holly accused Mitú Inc. of withholding payments from her and numerous other content creators. According to Holly, Mitú Inc. enticed YouTubers with promises of collaborations, improved advertising, and increased channel revenue in exchange for managing their YouTube payments. However, instead of fulfilling these promises, the company allegedly delayed payments and deducted a percentage (ranging from zero to over 40%) from creators' earnings.

Similar complaints emerged from other influencers. Luisito Comunica, a renowned YouTuber, expressed relief when he finally received his full payment after facing delays and issues with Mitú Inc. However, he highlighted the company's failure to deliver on its promises over time. Furthermore, allegations suggested that Mitú Inc. used influencers' names to lure other content creators into joining the network, despite failing to provide them with the promised benefits. Several YouTubers, including Sandyael, shared their experiences of being owed substantial amounts of money by Mitú Inc. Sandyael revealed that the company deducted 40% of her earnings, despite assurances of channel improvement and collaboration opportunities.

The situation escalated when influencers, including Sandyael, publicly denounced Mitú Inc. for non-payment and financial exploitation. Many expressed fear of speaking out due to concerns of not being paid if they did so. Despite the outcry on social media platforms, Mitú Inc. has yet to respond to the allegations, leaving several content creators unpaid and frustrated. These allegations have raised concerns within the YouTube community regarding the treatment of content creators by digital media networks and the need for greater transparency and accountability in such partnerships. [9]

References

  1. ^ a b c d Fernandez, Suzette (2020-02-21). "Latido Networks Acquires Youth-Focused Media Company Mitú". Billboard. Archived from the original on 2020-05-12. Retrieved 2020-05-31. Latido Networks, a division of the California-based technology company GoDigital Media Group, has announced the acquisition of youth-focused media company Mitú with the purpose to enlarge their LatinX digital consumer base.
  2. ^ Spangler, Todd (2014-09-23). "Disney's Maker Studios Pacts with MiTú to Produce Latino YouTube Content". Variety. Archived from the original on 2018-05-18. Retrieved 2020-05-29. MiTú investors include Upfront Ventures, Chernin Group, Allen DeBevoise, Advancit Capital, Code Advisors' Quincy Smith and Juan Cristóbal Ferrer of Ferrer Comunicación in Mexico.
  3. ^ a b Spangler, Todd (2016-01-13). "Mitú Raises $27 Million From AwesomenessTV, Verizon and WPP". Variety. Archived from the original on 2019-06-29. Retrieved 2020-05-31. Mitú, founded in 2012, delivers some 2 billion monthly video views across platforms including Facebook and YouTube, with a community of 6,000-plus Latino creators. That gives the company the largest global digital reach of any company targeting young Hispanics, according to Burstin.
  4. ^ "Mitú's Beatriz Acevedo Wants To Be Voice of Millennial Generation". NBC News. 2015-07-24. Retrieved 2020-05-31. In 2012, Acevedo, her husband Doug Greiff, and Roy Burstin launched the Mitú Network, now the largest Latino digital media company on YouTube. Their channels have a combined 100 million subscribers and get 800 million monthly views.
  5. ^ a b c Spangler, Todd (2014-06-19). "Latino YouTube Network MiTú Raises $10 Million, Led by Maker Studios Investor". Variety. Archived from the original on 2018-05-18. Retrieved 2020-05-29. Latino digital multichannel network MiTú raised $10 million in second-round funding, led by L.A.-based venture capital firm Upfront Ventures, one of the original investors in Maker Studios. MiTú said it will use the new funding, which brings it to about $13 million raised, to build out production facilities in Los Angeles and Mexico City, as well as expand its engineering and sales teams.
  6. ^ "YouTube". YouTube. Retrieved 2020-05-29.
  7. ^ Villafañe, Veronica (2018-07-24). "Major Layoffs At Mitú As Founder Beatriz Acevedo And CEO Herb Scannell Exit Latino Digital Company". Forbes. Retrieved 2020-06-02.
  8. ^ "Why Viacom Bought Awesomeness On The Cheap". Billboard. 2018-08-01. Retrieved 2020-06-02.
  9. ^ Mérida, Janet (2020-01-20). "Holly acusa que empresa roba dinero a cientos de youtubers". El Universal. Retrieved 2024-04-19. La creadora Holly denunció a través de un video que la Network Mitú le está robando dinero a ella y a cientos de youtubers.
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