Why Latin America’s Streamers Are Turning to Existing IP
In streaming’s early boom, originality was the holy grail. Platforms competed to deliver the next Squid Game, Money Heist, or The Queen’s Gambit – series that could define their brands and fuel subscriber growth. But as competition has intensified and budgets have tightened, the industry’s mindset is shifting. Today, revisiting and reimagining proven IP is emerging as one of the most effective strategies for sustainable growth.
Few understand this better than Edward Allen, the former Chief Operating Officer of Pantelion Films – the joint venture between Lionsgate and Televisa – and one of the key figures behind Pantaya, the first U.S. streaming service dedicated to Spanish-language audiences. Pantaya, later acquired by TelevisaUnivision and folded into its global platform ViX, became a blueprint for how strong IP foundations can drive both audience engagement and acquisition strategy.
“It’s not necessarily smarter to acquire existing IP,” Allen explains, “it just has many benefits, including a quicker path to production, it’s been tested with an audience, it’s cost-effective, and it’s a more flexible model if you need to pivot to find stories or genres that the market suddenly wants.”
Faster Paths, Lower Risk
For producers and streamers alike, that logic resonates. Working with existing IP means shorter development cycles, less creative uncertainty, and an audience that already knows the world being built.
“Proven IP has a built-in audience,” he continues. “From a marketing point of view, things today are very competitive and noisy. Having known IP allows you to cut through some of that noise because you don’t have to educate the audience on the brand, characters or world. With strong IP, there’s an existing fan base that already wants more of that content.”
In a marketplace where customer acquisition costs continue to rise, that familiarity isn’t just creative convenience – it’s a commercial advantage.
Reinventing Local Stories
Latin America’s long tradition of telenovelas and local drama gives streamers a vast landscape of recognizable titles and characters to work with.
“Local IP in LatAm is being well exploited by the streamers today,” Allen notes. “The local media companies have an advantage because they’ve spent decades creating IP and building fan bases. The key for any success going forward is creating a fresh take on old IP.”
At Pantaya, that principle guided programming decisions. Remakes such as Overboard, No Manches Frida 1 & 2, Mi Tío, Montecristo, and Volver a Caer combined familiarity with new creative energy – illustrating how audiences respond to stories they already love, updated for today’s tone and sensibility.
Creative Renewal, Not Limitation
Refreshing known properties doesn’t mean playing it safe, though. “Attaching writers, showrunners or directors who are themselves fans of the IP but who also have a fresh creative voice – that’s how you modernize without losing the DNA of the original,” he says.
He points to Barbie as a global case in point: “It did a great job of honoring the IP while modernizing the characters and story in a way that appealed to today’s audiences.”
The Balanced Slate
For producers, the message is clear. Proven IP offers efficiency and recognition, while originals bring discovery and innovation. As Allen puts it, both are essential parts of a healthy content slate.
In an era defined by consolidation and competition, Latin America’s greatest streaming advantage may lie in its storytelling legacy – familiar worlds made new for the next generation of viewers.
