Hearst Corporation has acquired a 25 percent stake in DreamWorks’ AwesomenessTV (ATV) for $81 million. ATV is a YouTube multi-channel network with about 114 million subscribers.
ATV’s founder Brian Robbins and president Brett Bouttier will continue to lead the company. As part of the deal, ATV will have access to Hearst’s subscription video on demand (SVOD) tech.
“Few companies have built the global audience of millennial females as quickly as AwesomenessTV,” said Steven Swartz, president and CEO of Hearst Corporation, in a statement. “For us, it’s very important to make a bet on the future of how content is created. Together, in partnership with DreamWorks, we see great opportunity in supporting the consumer media franchise that AwesomenessTV continues to build.”