Walt Disney Company will acquire YouTube dominator Maker Studios
The Walt Disney Company will expanding on the company’s goal to bring streaming content to customers regardless of device or platform. In a release dent out today from the company, The Walt Disney Company has agreed to acquire Maker Studios, the leading network of online video content on YouTube.
“Short-form online video is growing at an astonishing pace and with Maker Studios, Disney will now be at the center of this dynamic industry with an unmatched combination of advanced technology and programming expertise and capabilities”
Maker Studios shareholders will receive total consideration of $500 million, and a performance-linked earn-out of up to $450 million if the strong performance targets are met.
With more than 55,000 channels, 380 million subscribers and 5.5 billion views per month on YouTube, Maker has established itself as the top online video network for Millennials.
By acquiring Maker Studios, Disney will gain advanced technology and business intelligence capability regarding consumers’ discovery and interaction with short-form online videos, including Disney content.
“Short-form online video is growing at an astonishing pace and with Maker Studios, Disney will now be at the center of this dynamic industry with an unmatched combination of advanced technology and programming expertise and capabilities,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company.
“Disney is synonymous with the best entertainment and is the ideal partner for us, strengthening our position as the leading player in online video,” said Ynon Kreiz, Executive Chairman and CEO of Maker Studios.