Hearst purchases 25% stake in AwesomenessTV

Hearst Corporation acquired a 25 percent stake in DreamWorks Animation’s multi-channel network AwesomenessTV for $81.25 million. “Few companies have built the global audience of millennial females as quickly as AwesomenessTV. For us, it’s very important to make a bet on the future of how content is created,” Hearst CEO and President Steven R. Swartz said. Hearst will work with DWA to manage its current programming and grow ATV. [ATV co-founders] “Brian Robbins and Brett Bouttier are democratizing media by enabling young talent to produce their own content, be discovered by their peers and then be showcased across AwesomenessTV’s network of channels, as well as television shows and even movies,” Hearst Co-President of Entertainment & Syndication and President of Hearst Digital Studios Neeraj Khemlani said. Hearst will allow DWA access to its SVOD technology, pushing more content to consumers across multiple formats. Two years old, ATV averages 800 million monthly views and more than 114 million subscribers. Its top YouTube channels include Cimorelli, Miss Glamorazzi, Tyler Oakley, Cameron Dallas and Nash Grier.

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