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March 24th, 2014
07:55 PM ET

Disney to pay at least $500 million for YouTube video maker

By Brian Stelter, CNN

Highlighting Web video's growing value to big media, The Walt Disney Company on Monday said it would acquire Maker Studios for an initial sum of $500 million.

Maker Studios is a leading producer and distributor of short, entertaining videos on YouTube, many of which are geared toward millennials. Its vast array of online channels total 5.5 billion YouTube views per month, according to Maker, which makes it one of the most successful online video companies of its kind.

In effect, Maker has helped create a whole new universe of shows, made for the Web rather than television, and now Disney can learn from them. This is especially important because key Disney demographics — like teenagers — are flocking to YouTube and other online video destinations.

Read more of Brian's article online here.

 

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Filed under: Walt Disney Company • YouTube