MTG Takes Control of Online Video Platform Zoomin

MTG Takes Control of Online Video
Courtesy of Zoomin

LONDON — Multi-territory TV channels operator Modern Times Group has acquired 51% of online video platform Zoomin, which is the world’s fifth largest multi-channel network (MCN). The deal values Zoomin at Euros 88 million ($95.4 million).

Zoomin attracts more than 2 billion video views a month and has 100 million subscribers worldwide on YouTube. It also has a network of 2,000 publishers, including leading media brands such as Yahoo, AOL, Bild and Telegraaf. Jan Riemens and Bram Bloemberg, who founded the company in 2002 in the Netherlands, will continue to lead the company.

The deal follows MTG investments in ESL, the world’s largest e-sports company, and Splay, Scandinavia’s number one MCN and digital content creator, in the last few weeks, and reflects MTG’s strategy to invest in digital businesses with substantial growth potential.

MTG’s portfolio also includes the Viaplay Nordic subscription video-on-demand service, e-sports platform Viagame, and advertising-funded video-on-demand TV sites in eight European countries.

Jorgen Madsen Lindemann, MTG president and CEO, said in a statement: “It is now clear that we are creating an online video ecosystem that is fully prepared to capitalize on the next steps in the evolution of social video. It will enable both Zoomin and our other market leading digital brands to expand even faster by leveraging our combined consumer insight, reach and cross-promotional potential.”

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Digital News from Variety

Loading