Ooyala to Live Stream Inaugural Cinema Tropical Awards

When Cinema Tropical awards the winners of the "Ten Best Films of Latin America" on Oct. 22 in New York City, world-wide audiences will be able to watch the ceremony live thanks to Ooyala, an online video start-up based in Mountain View, Calif.

Founded in 2007 by a two Mexican brothers, Bizmarck and Belsasar Lepe, Ooyala works with media companies including Caracol, FremantleMedia, Hearst Corp., Wenner Media and The Recording Academy (Grammy Awards) among others, helping them leverage and monetize their video assets.

Through a partnership with New York-based Cinema Tropical, whose financials were not disclosed, Ooyala will live stream the Cinema Tropical Awards ceremony, enabling cinephiles around the globe to "attend" the event that will take place at The New York Times building in Midtown Manhattan.

The event, which honors the 10 best Latin American films of the decade (2000-2009), is also sponsored by Spanish-language movie channel Cinelatino, which this month celebrates 17 years on the air with a showcase of some of the most important films from across Latin America.