From today's release:

The show is a bilingual, modern day Romeo & Juliet that will, for the first time, give audience members the ability to vote and decide on the direction the characters and story lines will take. MTV and Electus will partner and utilize digital platforms including Facebook, Twitter and other social networking sites (in both English and Spanish), allowing viewers to actively participate in the show’s outcome.

Sounds to us a bit like a modern-day "Choose Your Own Adventure."

From the get-go, Mr. Silverman promised that IAC's Electus would tweak the traditional development model by involving sponsors and advertisers in new projects from the ground floor. To wit: Pedro & Maria will be co-produced by the consumers goods behemoth Procter & Gamble.

From the release:

Procter & Gamble Productions will serve as a co-producer with MTV and Electus for “Pedro & Maria,” creating original commercials and unique, branded entertainment opportunities for several of P&G’s beauty and health brands in and around the show and across multiple media platforms, including television and digital.

"Electus is at the forefront of the evolution of content and by partnering with them for a project like ‘Pedro & Maria’ we can truly explore innovative and creative branded entertainment opportunities for a multicultural audience,” said Rich DelCore, Director of Branded Entertainment at P&G. “Ben has played a critical role in transforming the traditional advertising model and creating unique links and unprecedented collaboration between content production, advertising, and marketing across the board and we are thrilled to be working with him on this project.”