The expanded content offering was made possible through deals with Argentina’s TV network Television Federal SA and local production heavyweight Arte Radiotelevisivo Argentino as well as Spain’s Imagina and Televisión Española. The licensing agreement adds 500 hours of new content to the DramaFever site this week. One of the more notable titles: The original version of Mujeres Asesinas, a drama that was remade in Mexico after becoming a hit in Argentia, and is currently slated to get another remake from Hollywood, with Modern Family’s Sofia Vergara being the executive producer.

Park told me that the content is licensed non-exclusively, and that the company won’t be able to stream it within Latin America. However, DramaFever has high hopes for the more than 50 million Latinos living in the U.S., which it targets with a kind of multi-generational approach: Viewers who primarily speak Spanish can enjoy streams in their native tongue, and second- or third-generation immigrants who primarily speak English will be able to follow the action via English subtitles.

DramaFever started out as a streaming service for Korean dramas, and quickly learned that there is a large demand for this type of content that goes far beyond expats. Over 85 percent of DramaFever’s existing audience aren’t Asian, Park told me, which is why the service is also looking to bring Asian content to Latin America through its new Spanish-language website.

The service has always had a strategy of multiple revenue streams. It allows viewers limited free, ad-based viewing on the web, with paying subscribers getting access to better-quality streams on mobile and connected devices. DramaFever has also in the past licensed some of its content to Hulu, and has now added Netflix and iTunes to its licensing partners as well.

These relationships help the company to strike additional licensing agreements, with Park telling me that DramaFever is already the largest single source of online revenue for its Asian content partners. It now wants to replicate that success story across Latin America. Park said he’s interested in striking additional deals in countries like Mexico and Colombia.

DramaFever has raised a total of $7.5 million in funding from investors like MK Capital, Bertelsmann Digital Media Investments, cable network AMC and Nala Investments.

Check out my earlier interview with CEO Seung Bak below:

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Steve Levitan Gets His Wish: “Modern Family” Leaves Hulu (Briefly); Levitan’s show has been off Hulu, ABC.com and ABC’s iPad app for the past month or so, as its streaming rights expired on July 27. (MediaMemo)

Vidyo Bets On The iPad And iPhone For The Future Of Video Conferencing; soon you will be able to access and connect with Vidyo from any platform, whether it be an Android phone, iPad or computer. (TechCrunchIT)

Syfy Books Felicia Day’s Red for October 30; the Felicia Day-led telefilm — now monikered Red: Werewolf Hunter — will premiere Saturday, October 30 on SyFy. (The Futon Critic)

SpeakerText Automates And Crowdsources Video Transcripts; angel-funded startup SpeakerText is relaunching with a new way to automate the transcription process and attach the full transcript as part of the video player in a drop-down window. (TechCrunch)

Cable’s New Pole Problems; some cable operators are worried they might have to pay hundreds of millions of dollars in additional pole-attachment fees as a byproduct of the FCC’s proposed reclassification of broadband service. (Multichannel News)

The Attack Of Branded Content: Who Will Control TV On The Web?; advertisers love broadcast and cable TV because of its massive reach into every home, but they are finding it nearly impossible to replicate that reach on the Web, which is where branded content comes in. (TechCrunch)

TAN partners with TubeMogul to bring PlayTime to India; Times Audience Network (TAN) announced today a strategic partnership with leading video advertising and analytics platform TubeMogul to launch PlayTime in India. (press release)

A series of tweets by Levitan late last night expressed the producer’s frustration with Hulu and the ratings and measurement system for shows as they’re aired on TV and viewed through ad-supported sites online, on DVR and on electronic sell-through platforms like iTunes. The first, posted at 10:22 p.m., was related to reports that online video site Hulu, which makes broadcast shows like Modern Family available for free online, is seeking a $2 billion IPO. He wrote:

“Some estimate Hulu IPO could bring in $2Bil. What will the content providers get? Zero. What is Hulu without content? An empty jukebox.”

While content creators — producers, writers, actors, etc. — wouldn’t be compensated directly from a Hulu IPO, the broadcasters that distribute the shows on Hulu would benefit from their own financial stake in the company. ABC parent Disney, NBC and Fox all have an ownership stake in Hulu, along with financial backer Providence Equity Partners.

Levitan’s beef seems to be mainly focused on how Hulu streams are measured — or not — as part of a show’s total audience. In a series of follow-up tweets, he wrote:

“To be clear, I value every single one of our viewers, no matter how you watch, I just want you to be counted…

…That’s how we’ll ensure the future of quality television.

We need a ratings system that counts all viewers on every format: TV, DVR, Hulu, iTunes, iPad Player, network websites, etc.”

This isn’t the first time Levitan has lamented Hulu’s effect on broadcast ratings. In June, the Modern Family creator questioned the wisdom of putting broadcast TV shows online for free at AllThingsD’s D8 conference. And earlier this month, he even suggested that ABC pull Modern Family from Hulu as a test case to see how it would affect the show’s broadcast numbers.

The big problem is that the networks can’t monetize their online content as well as they can linear broadcast TV. And while ABC and other networks are dramatically increasing the ad loads associated with online content, the revenue they can expect from online viewing still pales in comparison to TV ad spending. In the near term, that’s going to cause people like Levitan — and others — to continue questioning whether or not their shows should be free online. In the long term, however, it seems the move toward on-demand access of content — whether it be on TV, online or on mobile devices — is a trend that’s bound to continue.

Related content on GigaOM Pro: How Online Video Is Shaping the Next Round of Retrans Fights (subscription required)

Modern Family producer Steve Levitan now suggests that ABC take full episodes of his show offline to see what effect that might have on the show’s broadcast ratings, according to The Hollywood Reporter. Pointing out that more than 2 million viewers have watched his show online, Levitan said that Modern Family could be a Top 3 show if online and DVR viewing were added to its ratings.

As a result, Levitan says he’s lobbied to have Modern Family taken offline as a test to see how the broadcast would do without the online channel. The Hollywood Reporter quotes him as saying, “The idea isn’t to remove ways for viewers to find the show… but to see what [would happen to the ratings].”

But some within ABC might disagree with Levitan’s assessment of the effect online viewing might have on his show’s broadcast ratings. In a phone interview last week, Albert Cheng, executive vice president of Digital Media for the Disney-ABC TV Group, said that online video wasn’t competing with broadcast TV, but with other catch-up means of watching the same content, like DVR. “We window content differently, and we see the premier in the first window with live broadcast. But once you get [a show] a day late, who are we competing against? We’re competing against the DVR.”

Of course, the big problem is that the online channel isn’t as fully monetized as the broadcast channel, so Modern Family doesn’t make as much online or on the iPad as it does in its first showing. This is something that the broadcast networks are trying to remedy by increasing the ad load for online videos. ABC has been one of the more aggressive proponents of adding more ads to the content, doubling the ad load for videos that it shows on the iPad, with plans to grow the number of ads served across all digital platforms. From that standpoint, Cheng said that ABC was “feeling good” about how its online monetization stacked up against DVR content.

ABC is still treading carefully, for fear of mucking up the user experience. Full-length iPad videos now have two ads per break, with the typical half-hour comedy having three breaks and the typical hour-long drama having five commercial breaks. While it’s many more ads than most online viewers have become accustomed to, it’s still a long way from the number of ads typically shown during linear broadcast.

Related content on GigaOM Pro: How Online Video Is Shaping the Next Round of Retrans Fights (subscription required)