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Vox media kit7/29/2023 Frankly, the kind of thing that you could sell to Netflix is just not going to be something you could really afford to do on YouTube. We've never had to make a distinction between putting our creative on our YouTube channel vs. We now have a whole unit that's focused solely on developing shows that we think make sense in today's Hollywood marketplace.ĭo you ever contemplate licensing out a series that you had success with on YouTube? The difference in the two businesses was enough that we created separate divisions. On the internet, however, you can just make content, where you’re competing in a giant funnel. There are more buyers than ever before, but the resources are controlled by a small number of networks, studios and executives who have the programming budgets. We know what success looks like, and it's very different than what it takes to be competitive in the Hollywood landscape. We could achieve something that makes sense for a digital series and deliver it to our own audiences. And a lot of folks who had tried that were unsuccessful. We didn't think there was a direct one-to-one relationship from shows that made sense for YouTube or digital distribution to TV. Why did Vox Media start a separate division for licensing TV shows? With more people streaming video, the demand for licensed shows should only increase.Ĭhad Mumm, senior vice president and head of entertainment at Vox Media Studios, spoke with eMarketer about how the business of video content licensing is evolving as part of our recent report collection on digital video. In 2020, that figure will increase to 191.5 million viewers. We forecast that 182.5 million US residents, or 55.3% of the population, will be subscription over-the-top video viewers this year. BuzzFeed’s own challenges since becoming a public company may change Vox’s calculus, however.Licensed content is clearly resonating with digital video viewers. Peretti, who has been talking since 2018 about digital media companies teaming up, and earlier this year finalized a deal for HuffPost, touted the Complex acquisition and the SPAC merger as a way to “thrive in an age of media consolidation.” Bankoff seemed to share that view, telling employees Monday that “together we will be an even stronger, more financially sustainable company that can invest more in our products and our people” and “be the clear leader in modern media.” Vox Media “has explored ways to raise cash for further growth, including the possibility of going public” and could be in a position to pursue further acquisitions-and an eventual IPO-after this merger, the Journal reports. BuzzFeed’s public debut came as it finalized its acquisition of Complex Networks. So Bankoff is in a stronger position to take Vox Media public, just as his peer Jonah Peretti, the CEO of BuzzFeed, did last week in a rocky but nonetheless historic occasion for digital media. The pair appeared Tuesday on CNBC, with Lerer saying that “scale is a path to optionality,” putting them in a position to acquire others and “take advantage of a marketplace where being small has been difficult.” The nature of the all-stock deal would leave Group Nine investors with a 25% stock in Vox Media because Group Nine’s investors include Comcast, and Vox Media’s include Discovery, Recode’s Peter Kafka points out that “two of the biggest media companies in the world could end up with stakes in the same digital media operation.” Bankoff will lead the combined company, with Group Nine Chief Executive Ben Lerer taking a director role on its board. “The business rationale behind this merger is to grow revenue, increase scale, and combine these incredibly powerful and complementary portfolios,” Bankoff told staff in his memo. The deal, first reported by the Wall Street Journal and confirmed shortly thereafter in a companywide memo sent by Vox Media CEO Jim Bankoff, is set to close early next year pending regulatory approval the combined company would bring in more than $700 million in revenue and more than $100 million in profit, according to the Journal. Vox Media is acquiring Group Nine Media, the publisher of sites such as Thrillist, NowThis, and the Dodo, a move that would combine the brands into one of the biggest online publishers in the digital space. The consolidation of digital media companies shows no sign of slowing down.
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