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RTL Group’s BroadbandTV acquires Mumbai-based kids content producer YoBoHo
MUMBAI: RTL Group-owned Canadian media and technology company BroadbandTV (BBTV) has acquired Mumbai-based kids content producer and publisher YoBoHo. The deal makes BBTV one of the leaders in kids and family entertainment on YouTube.
Said YoBoHo founder & CEO Hitendra Merchant, “YoBoHo has launched 27 channels featuring original programming produced in house reaching a global scale. We have successfully built whole ecosystems around kids content, which has led us to become a top player in the space. We have significant plans to develop this further.”
BBTV is also making a multi-million dollar investment in YoBoHo to further expand its library of original content, broaden its international footprint and further diversify its revenue streams.
“We’re very pleased to conclude the acquisition of a top player in the kids space at a time when the kids content vertical is experiencing burgeoning growth,” , said BroadbandTV founder and CEO Shahrzad Rafati.
YoBoHo boasts over 8,000 videos mainly produced by the company. It operates the largest preschool and K-12 educational network on YouTube (HooplaKidz).
All 55 YoBoHo employees will join BBTV, including producers, writers, marketers, technology, and mobile experts, as well as a business development team.
Leading European entertainment network RTL Group provided funding for BroadbandTV’s acquisition of YoBoHo.
The kids vertical is experiencing exponential growth, with Nielsen reporting that total online video consumption by kids aged 2 to 11 has increased by 87 per cent in the last three years.
“Given YouTube’s tremendous commitment and investments in the kids and family vertical, we stand well positioned to capitalise on this momentum,” continued Rafati. “We’re now a leader in the industry in a number of major content verticals.”
“With significant investments in multi-channel networks, RTL Group has become the No 2 player in the YouTube ecosystem in less than 24 months. BroadbandTV currently represents two thirds of RTL Group’s online video views, and its acquisition of YoBoHo is another milestone in our joint efforts to achieve leading positions in all segments of the rapidly growing online video space. It also underlines our commitment to foster the global growth of BroadbandTV,” commented RTL Group co-CEO Guillaume de Posch.
YouTube Kids & Learning global content head Malik Ducard commented, “YouTube Kids’ viewership is growing rapidly, thanks to strong entrepreneurial partners like YoBoHo and we’re excited to see this combination with BroadbandTV, a company that continues to innovate and invest successfully in this space.”
“Our partnership with BBTV allows us to accelerate our international footprint, advance our major content production efforts and scale our business by leveraging their cutting-edge technology and powerful MCN business,” he added.
HooplaKidz joins the league of other BBTV brands: TGN, a gaming network on YouTube; Opposition, a hip-hop music network; and Kandesa, a popular female lifestyle brand.
BBTV currently operates the third largest multi-channel network comprising over 32,000 partners with a growing library of more than 10.5 million video assets.