Corporate News: DreamWorks to Buy Awesomeness TV

DreamWorks Animation SKG Inc. became famous for their animated movies such as Shrek, Kong Fu Panda and more recently, The Croods. Although DreamWorks is known for its success in animation, it is branching off in a different area. They have recently agreed to purchase a YouTube channel called AwesomenessTV for $33 million.

They believe this channel will bring them a faster growing and more diverse consumer pool as they move toward using YouTube as a medium for their digital strategy. AwesomenessTV which has launched on YouTube in June 2012 quickly became one of the most subscribed channels by teens. DreamWorks believes they could use this acquisition as a way to reach out and advertise toward over the fourteen million subscribers and eight hundred million video viewers.

The chief executive officer of AwesomenessTV is Brian Robbins who is famous for producing shows like “One Tree Hill” and “Smallville.” These shows parallel as his YouTube channel consists of programs like teen girl talk show, comedies, dramas, and music. This is relevant to most people as many of us frequent YouTube and this acquisition could lead to extended ads relating to DreamWorks and their projects.

URL:http://online.wsj.com/article/PR-CO-20130501-907869.html

-Jonathan Chan

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