The Arenas Group, an advertising, public relations and talent management firm specializing in the U.S. Latino market, has teamed with Universal Pictures to form a new film label, Arenas Entertainment, that hopes to serve as a platform for the burgeoning Latino filmmaking community.
Arenas Group founder and president Santiago Pozo will be CEO of the new venture, which will acquire, produce, finance, market and distribute films tailored to Hispanic audiences worldwide. The label aims to distribute four to five films a year. Universal Pictures and Marco Polo Investments SCR, the leading Spanish venture-capital firm, will hold an equity stake in Arenas Entertainment. In turn, all productions and acquisitions released under the label will be co-financed by Universal Pictures and Arenas Entertainment.
The label, based in Hollywood, is developing several feature film projects and looking to acquire new product. Arenas' current deal is for five years, after which Universal can increase its financial stake in the label.