Viacom acquires digital media company AwesomenessTV

awesomenesstv

Viacom announced that it plans to acquire AwesomenessTV, the digital entertainment company focused on the so-called ‘Gen Z’. It will live under Viacom Digital Studios (VDS).
Viacom confirmed the move in a blog post. In the past days, several U.S media had reported that the media conglomerate was interest in acquiring AwesomenessTV, which is currently owned by NBCUniversal, Verizon and Hearst. The terms of the agreement were not disclosed but according to Variety, the deal has an enterprise value worth at least USD 50 million.
Variey reported that one of the factors affecting the valuation is that the agreement does not include DreamWorksTV, the YouTube kids’ entertainment channel Awesomeness launched four years ago, which will be retained by NBCUniversal.
Viacom said that AwesomenessTV has accumulated 6.4 million YouTube subscribers and another 158 million subscribers on its Awesomeness Network. With this acquisition, the group focuses on the GenZ segment, which was born along with the tech revolution of the mid-1990s. Viacom is already a top player in youth culture, having curated strong audience connections with kids via Nickelodeon and young adults via MTV.
“Awesomeness has done an incredible job building their brand into a digital media powerhouse for today’s most sought-after and hard-to-reach youth audiences,” said Kelly Day, President of Viacom Digital Studios and former Chief Business Officer of Awesomeness. “The team brings strong digital expertise, deep connections with top talent and influencers, and a robust branded content studio and creative agency that will accelerate the growth and scale of Viacom Digital Studios.”