Disney is continuing to rack up the assets, and they did so by acquiring Maker Studios for $500 million, and it was announced on March 24, 2014.
If certain performance targets are met, the digital media firm could actually bring its value up to $950 million for Disney.
The YouTube network Maker Studios will indeed become a standalone operation within Disney, and it will keep its headquarters based in Culver City. There are also operations stationed in London and New York.
Maker Studios CEO Ynon Kreiz will report to Disney CEO Jay Rasulo.
“Disney is synonymous with the best entertainment and is the ideal partner for us, strengthening our position as the leading player in online video,” said Kreiz.
Founded in 2009 as a multichannel network for YouTube talent; the company has grown into an online video network with more than 55,000 YouTube channels and a combined subscriber pool of more than 380 million.
In the last five years, Maker Studios has raised $66 million in venture capital funding.
“Short-form online video is growing at an astonishing pace and with Maker Studios, Disney will now be at the center of this dynamic industry with an unmatched combination of advanced technology and programming expertise and capabilities,” said Disney CEO and chairman Robert Iger.
Maker Studios acquired video network Blip in September of last year and have also begun partnering with celebrities. In January of this year, they announced a deal with will.i.am and are going to launch an online video platform with original programming.
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