DreamWorks Buy YouTube Channel AwesomenessTV

AwesomenessTV, a YouTube channel for teenagers, has been snapped up by DreamWorks for the grand sum of $33m as the studio attempts to delve into the world of online content.

"AwesomenessTV is one of the fastest growing content channels on the internet today and our acquisition of this groundbreaking venture will bring incredible momentum to our digital strategy," DreamWorks Chief Executive Jeffrey Katzenberg said. Hollywood veteran Brian Robbins - the founder and chief executive officer of AwesomenessTV – is to remain in his position as he is, "cultivating the brand's distinctive content," DreamWorks said. In addition, Mr. Robbins "will assume an executive role at the studio to develop a DreamWorks Animation branded digital family channel." Katzenberg added: "We want to let Brian do what Brian's been doing. We also have talked about what we think are going to be some additional great collaborations with Brian on YouTube and ways in which the DreamWorks brand can serve as a valuable, defining brand for him."

With 57,000 YouTube channels and 14.4 million subscribers, AwesomenessTV’s 1 million videos on the network have been seen 809 million times. It has programs like IMO (In My Opinion), a teen girl talk show, as well as comedies, dramas, music, and stand-alone videos like ‘How to Be the Perfect Babysitter.’ Rachel Egan, a spokeswoman for ad-buying network TubeMogul, said the purchase "seems like a broad recognition by DreamWorks that their younger audience — like the rest of us — are increasingly streaming content online, on mobile devices and in social media."

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