HEARST DEEPENS DIGITAL TIES WITH DREAMWORKS DEAL: In traditional media’s ever-intensifying land-grab for digital terrain, Glendale, Calif.-based DreamWorks Animation SKG, Inc. and Hearst Corporation today said Hearst has acquired a 25 percent interest in AwesomenessTV, the multi-platform media company aimed at teens, for $81.25 million and will partner with ATV parent DreamWorks to grow the business. Brian Robbins, ATV founder, and Brett Bouttier, president, will remain in their roles.
“Few companies have built the global audience of Millennial females as quickly as AwesomenessTV,” Steven R. Swartz, president and chief executive officer of Hearst, said. “For us, it’s very important to make a bet on the future of how content is created. Together, in partnership with DreamWorks, we see great opportunity in supporting the consumer media franchise that AwesomenessTV continues to build.”
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Both the NY-based publisher and the Hollywood studio plan to push ATV into new content channels, broaden its audience and expand its already global reach. Under the agreement, ATV will gain immediate access to Hearst’s subscription video on demand (SVOD) technology, which will hasten its ability to offer content directly to consumers across all formats. Jeffrey Katzenberg, ceo of DreamWorks Animation, said, “This is an extremely exciting partnership as we continue to maximize the value of our content and properties through multiple platforms.” “We’re delighted with the opportunity to partner with Hearst, in part because it has outstanding global brands, a very valuable international presence and industry-leading technology, and also because of its demonstrated track record of successfully partnering with media companies and supporting their growth trajectories.”
AwesomenessTV boasts an average of nearly 800 million monthly views and a subscriber base of over 114 million. Its top YouTube channels—including Cimorelli, Miss Glamorazzi, Tyler Oakley, Cameron Dallas and Nash Grier—have created sought-after YouTube stars among the Millennial set The company also oversees Big Frame, a talent management company; Awesomeness Consumer Products; Awesomeness Music and Awesomeness Ink.