The ProSiebenSat.1 Group, one of Europe’s largest independent media corporations, expanding its online video business internationally with the newly founded Collective Studio71.
The new global multichannel network., with a pre-money valuation of $240 million, was formed by the merger of ProSiebenSat.1’s Studio71 operation and Collective Digital Studio. The media group is investing US$83 million in the new venture.
Studio 71 will oversee European and UK operations, while CDS will be responsible for the Americas and other English speaking territories. Collective Studio71 will manage the group’s growing distribution efforts, technology build out, and expand its content formats globally.
The company will be jointly managed by chair Christof Wahl, Sebastian Weil and Ronald Horstman of ProSiebenSat.1 and Michael Green and Reza Izad, founders of CDS.
“Studio71 and CDS are joined by the same digital DNA: a strong focus on developing innovative Web-only productions and branded entertainment formats, and intensive cultivation for our creators. The added value for our partners has top priority here,” said Wahl in a statement. “By this merger we will reach a global audience and can thereby offer additional marketing opportunities to advertising customers. At the same time, we will intensify international talent development so we can also be a preferred partner for the digital influencers of tomorrow.”
CDS has built a reputation for creating opportunities for top digital influencers and premium content across multiple platforms. It was the first to take YouTube stars’ premium online content to television, with FЯED on Nickelodeon, and currently Epic Meal Empire on FYI Network for Epic Meal Time. In addition, it is monetizing the capabilities of social media stars, including Matt Espinosa and Logan Paul who engage with millions of fans across Vine, Instagram, Facebook and SnapChat.
Studio71 works with top European talent and created hit digital properties such as Let’s Play Together, Last Man Standing and The Mansion to name a few. Studio71 has a strong track record of building television to web properties. The Voice Kids and The Voice of Germany are some of the best performing Channels in Europe.