Hispanic upstart Canela Media has launched Zully, a new app for microdramas in both Spanish and English. While Canela is smaller than legacy players TelevisaUnivision and Telemundo, it has a different business model. Without linear TV networks or expensive line items like sports rights, it is digitally focused, claiming a monthly audience of 60 million active users across AVOD, FAST, social media and YouTube. Isabel Rafferty-Zavala founded the company in 2019 and runs it as CEO. The company announced Zully at its upfronts presentation to advertisers in New York. The luncheon event was held Monday afternoon at a restaurant across the street from Radio City Music Hall, which hosted NBCUniversal’s presentation earlier in the day. Like its Hispanic-media competitors, and a growing number of others investing in the $11 billion market for micro-series, Canela sees a lot of upside in the space.…