The two companies previously partnered in October 2013 for a joint venture that saw the creation of a standalone Seventeen-branded YouTube channel and multichannel network.
Twenty-five percent ownership of the global teen community will cost Hearst $81.25 million.
DreamWorks and Hearst plan to work together to support ATV’s efforts to enter into new content channels, broaden its audience and expand its geographic reach. Under the agreement, ATV will gain immediate access to Hearst’s subscription-video-on-demand technology, which will accelerate ATV’s ability to offer content directly to consumers across all types of formats.
Brian Robbins, founder, ATV, and Brett Bouttier, president, will continue to lead the company.
For details on AwesomenessTV’s licensing plans check out our December cover story “The New Vibe” featuring the company’s head of consumer products Jim Fielding.
“This is an extremely exciting partnership for AwesomenessTV and DreamWorks as we continue to implement our long-term strategy to maximize the value of our content and properties through multiple distribution platforms,” says Jeffrey Katzenberg, chief executive officer, DreamWorks Animation. “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 is one of the web’s biggest multi-channel networks, with an average of nearly 800 million monthly views and a subscriber base that now totals 114 million-plus. Its top YouTube channels include Cimorelli, Miss Glamorazzi, Tyler Oakley, Cameron Dallas and Nash Grier. Talent management company Big Frame, Awesomeness Consumer Products, Awesomeness Music and Awesomeness Ink are also included under the AwesomenessTV umbrella.
“Few companies have built the global audience of millennial females as quickly as AwesomenessTV,” says Steven R. Swartz, president and chief executive officer, Hearst Corporation. “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.”