Recently, large corporations have shown willingness to invest in media companies. British broadcasting and television company ITV is now following suit by investing in New York-based Believe Entertainment Group.
The digital entertainment company produces many popular shows, including The LeBrons (an animated series for Xbox starring LeBron James), In the Booth (a behind-the-scenes series on YouTube hosted by DJ/musician Tiësto), and Money Where Your Mouth Is (a game show on Hulu hosted by Jay Mohr). Specializing “in developing premium entertainment with A-list talent and matching them with global brands,” Believe Entertainment has several new initiatives in development which will be announced in the near future.
“As the entertainment industry continues to converge to meet the demands of consumers and how they want to view content, this partnership offers both companies a distinct competitive advantage,” said Dan Goodman and William H. Masterson III, co-founders of Believe Entertainment Group, in a release. “ITV will offer numerous opportunities for us to grow our efforts in multiple formats, channels and globally to the benefit of both our talent and brand partners.”
Because of the deal, Believe Entertainment won’t have to do all the heavy lifting on its own. ITV plans to provide its own expertise for productions, help with international distribution, and develop talent relationships. In exchange for these services, the broadcasting company will receive a spot on Believe’s board of directors.
“Believe Entertainment Group’s expertise has generated hundreds of millions of views in just under five years,” stated Paul Buccieri, Chairman of ITV Studios U.S. Group and ITV Studios Global Entertainment, in the release. “This added to Dan and Bill’s combined 35 years in advertising, digital, media and entertainment, makes them a compelling strategic partner for ITV.”
Both companies seem pleased with the deal, so here’s to hoping some incredible new content comes out of it the companies’ audiences can enjoy for years to come.