The Many Faces of Jennifer Lopez
JLO is looking radiant as ever with a new boyfriend, a world tour and new collaborations.
These days, Jennifer Lopez is turning her attention to her Latino fans.
The superstar singer and actress has joined forces with NuvoTV, an English-language cable network (formerly known as SíTV) targeting U.S. Latino.
According business newswire Bloomberg, the Puerto Rican triple threat and her production company Nuyorican Productions will be adding new programming to NuvoTV, which claims it reaches 30 million homes, and will also be working on business and marketing strategies in exchange for a minority stake.
“I’m going to be a creative executive and part owner who will be very involved with every aspect of the network,” Lopez told Bloomberg in an exclusive interview. “Development, production, marketing, I’ll be involved on every side of it so we hit all the right points.”
According to the latest census data, there are roughly 50 million Latinos living in the United States meanwhile a report by Nielsen predicts that Latino buying power will leap from $1 billion to $1.5 billion by 2015.
Michael Schwimmer, who is the Chief Executive Officer at NuvoTV, says that Lopez's contributions to the network will be key for the cable networks future growth.
“Jennifer wants to be helpful, to grow the business,” said Schwimmer. “She is coming in as a business partner. To the extent she can be helpful growing distribution or advertising relationships, she will chip in where appropriate.”
“Our joint goal is to raise the bar and invest more in programming and marketing,” he continued adding that the end goal is to “take this network to the next level.”
“The financing took this relationship into account,” he added.
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