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ProSiebenSat.1 picks up 20% stake in YouTube’s Collective Digital Studio
MUMBAI: German TV giant ProSiebenSat.1 is buying 20 per cent stake in YouTube’s multi-channel network company Collective Digital Studio, also known as The Collective.
The deal with the German media giant was reportedly handled by Red Arrow Entertainment, a ProSiebenSat.1 subsidiary that functions as an umbrella for 15 international production companies.
Red Arrow in partnership with Collective Digital Studio aims to grow online talent and new content verticals and also handle global programming distribution for content from the new venture.
In August 2013, ProSieben formed its own German multichannel network Studio71, which today generates over 100 million video views per month. With the deal, Studio71 will receive video content from Collective Digital Studio while the marketing will be handled in-house by SevenOne Media.
ProSiebenSat.1 executive board member Christian Wegner said, “Having established a leading multichannel network in the German-speaking region, we are taking the consequent next step with Collective Digital Studio to create a global player in what is a high-growth sector of the entertainment industry.”
The Collective is the production company of the YouTube hit series Video Game High School, along with the Annoying Orange and Epic Meal Time.
Collective Digital Studio is a subsidiary of the Los Angeles based The Collective, a management and production company owned by its founders and GF Capital Private Equity Fund.
The network was formed in 2011, and today encompasses over 600 YouTube channels garnering around a billion views per month. It has an employee strength of 80.
ProSiebenSat.1 is a merger of two large TV networks, ProSieben and Sat.1.