DreamWorks Animation Acquires YouTube’s Awesomeness TV1 May, 2013 By: Chris Tribbey
DreamWorks Animation May 1 agreed to buy the teen-oriented YouTube network Awesomeness TV for $33 million in cash, giving the studio a popular, digital social platform to push its content.
Awesomeness TV lays claim to 14 million subscribers across more than 55,000 YouTube channels, and its video content has more than 800 million views to date.
Brian Robbins, founder and CEO of Awesomeness TV, will assume an executive role with DreamWorks Animation, and the studio said it would pay as much as $117 more to Awesomeness TV if it meets undisclosed performance goals through 2015.
“Awesomeness TV is one of the fastest-growing content channels on the Internet today, and our acquisition of this groundbreaking venture will bring incredible momentum to our digital strategy," said DreamWorks Animation CEO Jeffrey Katzenberg. “Brian Robbins has an extraordinary track record in creating family content both for traditional and new platforms, and his expertise in the TV arena will be invaluable as we grow our presence in that space.”
Robert Kyncl, head of content for Google-owned YouTube, said Robbins has quickly built Awesomeness TV into a “powerful, next-generation audience network.”
“DreamWorks Animation’s acquisition is symbolic of the incredible evolution of online entertainment and continues the exciting momentum of creators on the platform,” Kyncl said.
Robbins added: “The acquisition of Awesomeness TV by DreamWorks Animation speaks to [Katzenberg’s] vision for the future of entertainment, the immense appetite for new kinds of storytelling and the power and reach of YouTube.”