Last week we wrote a story that talked about Disney’s acquisition of the YouTube MCM Maker Studios, well that’s old news now as the digital media arm of DreamWorks Animation, AwesomenessTV has this week announced their acquisition of the YouTube multichannel network Big Frame for $15 in cash.
Big Frame was first founded in 2011 by Sarah Penna and Steve Raymond, since which time it has managed to sign more than 300 creator-run YouTube channels and earned more than 39 million subscribers and 3.6 billion views in the process, a number which will go up to around 80 million subscribers and nearly 1 billion views a month after the deal has finished.
“Sarah and Steve have a great track record for identifying and developing talent and we believe that working together we can build talent brands that will transcend YouTube,” AwesomenessTV CEO and co-founder Brian Robbins said in announcing the deal.
“We believe that Big Frame’s unique ability to build online communities combined with the Awesomeness team’s ability to create premium content and tell great stories will be a winning formula for the next stage of the entertainment industry’s evolution.” Added Raymond, Big Frame’s CEO.
The deal is set to be completed later this month after closing conditions have been made, with Big Frame’s previous investors in particular, who invested around $3.4 million in the company and include Anthem Venture Partners, DFJ Frontier, Pritzker Group Venture Capital, Richmond Park Partners, Lowercase Capital, Launchpad LA and Social Starts.