By Evan DeSimone
Viacom has acquired a significant minority stake in DigiTour Media as part of a capital raise for the live entertainment company.
Launched in 2010 by Meredith Valiando-Rojas and Christopher Rojas, Digitour Media specializes in creating live event experiences that bring fans face to face with a growing roster of digital entertainment stars. Capitalizing on the rising fan demand for personal encounters with the stars of YouTube, Instagram, Snapchat and Vine, the company curates a series of events which have included Hayes Grier, Nash Grier, Jack & Jack, Trevor Moran, O2L and Andrea Russett, as well as mainstream stars such as Demi Lovato and girl group Fifth Harmony.
The total amount of the capital raise was not disclosed, but Viacom led the round, which also included VC firm Liontree and media investors Slow Ventures. As part of the funding deal, a Viacom proxy will now occupy a spot on DigiTour Media’s board of directors alongside founders Rojas and Valiando-Rojas, seed investor and television personality Ryan Seacrest and Andrew Siegel of AV Partners, the investment arm of Conde Nast parent company Advance Publications Inc.
“We believe that this pairing will lead to opportunities to combine our authentic connection to Generation Z with Viacom’s unparalleled television, film, digital and international resources in order to help accelerate and scale our media brand globally,” said DigiTour co-founder and CEO Valiando-Rojas in a statement.
The investment is the latest in a flurry of moves by Viacom to stake a claim in the rapidly expanding digital entertainment space. The media giant recently acquired a minority stake in digital content producer Defy Media, expanded its existing content deal with streaming service Hulu, and contributed content to Verizon’s new streaming endeavor Go90. DigiTour Media allows Viacom to play in the increasingly competitive and lucrative live entertainment space and provides it direct access to a stable of high profile influencers.