Viacom’s deal to amass AwesomenessTV, formally introduced July 27, has an enterprise worth value at the least $50 million, sources aware of the deal informed Selection.
One of many components affecting the valuation: The settlement doesn’t embrace DreamWorksTV, the YouTube youngsters’ leisure channel Awesomeness launched 4 years in the past, which will probably be retained by NBCUniversal.
However even excluding DreamWorksTV, it appeared as if Viacom nabbed Awesomeness for a steal. When Verizon paid about $159 million to amass its stake in AwesomenessTV in 2016, that implied a $650 million valuation. That was double Awesomeness’ implied worth when Hearst invested within the firm in 2014.
Nonetheless, sources stated, DreamWorks Animation (which in 2013 purchased ATV, then only one yr outdated) and DWA’s subsequent proprietor, NBCUniversal, by no means internally valued the Awesomeness enterprise on the idea of these investments. (Comcast/NBCU picked up the bulk possession of Awesomeness with the $3.eight billion acquisition of DreamWorks Animation.) Furthermore, the majority of the cash that got here from Verizon and Hearst was utilized by DWA for different functions — and never invested in Awesomeness.
Reps for Viacom, AwesomenessTV and NBCU declined to remark.
Going ahead, the DreamWorksTV enterprise will probably be built-in into the NBCU Digital Enterprises group, led by president Maggie Suniewick.
The remainder of the Awesomeness enterprise, together with the AwesomenessTV digital community, its movie and TV studio enterprise, the Awestruck life-style and leisure model aimed toward millennial mothers, and its in-house artistic company, will probably be built-in into the Viacom Digital Studios. That division is headed by Kelly Day, previously chief enterprise officer of Awesomeness, who joined Viacom final fall.
With Awesomeness coming into the Viacom fold, layoffs are anticipated in some company features. Jordan Levin, who has served as AwesomenessTV’s CEO since Might 2017, will depart after a transition interval.
Awesomeness launched DreamWorksTV in 2014, overseen by then-CEO Brian Robbins (who left final yr to hitch Viacom as president of Paramount Gamers). At the moment, the YouTube channel has 4.5 million subscribers and has generated Three billion video views up to now.
DreamWorksTV has featured a slate of greater than 100 unique, short-form content material collection aimed toward youngsters, spanning comedy, life hacks, music and gaming, with its hottest reveals together with “Life Hacks for Children” and “Junk Drawer Magic.” The YouTube channel additionally has served as an outlet to advertise DreamWorks Animation’s characters and franchises, in addition to unique collection for Netflix like “Trolls: The Beat Goes On” and “The Boss Child: Again in Enterprise.”