Today Alloy, Inc. CEO Matt Diamond and Generate CEO Jordan Levin made the announcement of their intentions to build a “consolidated enterprise offering Vertically integrated and highly specialized capabilities in content development, talent management, production and distribution targeted to key 12-34 demographic.
“The addition of Generate to Alloy Digital firmly places us in a unique position offering expanded and vertically integrated capabilities that will create significant value for our advertisers and consumers, as well as the creative community and potential partners. With this transaction, and with the strength of our combined management teams, we are now the leading next generation media company mirroring the best of both old Hollywood and the new digital era: cost-effective development and production, talent management, distribution, ad sales, social media and promotion all under one roof,” Diamond said.
Levin commented, “We sought to team with a forward-thinking partner that would complement our fundamental strengths, leverage our marketplace position and enhance our ability to engage and reach the influential younger demographic that is driving the advertising, technology and entertainment industries into an increasingly co-dependent relationship.” He added, “Combining forces with Alloy Digital is the next logical step for both companies. We have every confidence that collectively we will continue to build a powerful, platform agnostic, digital-centric engine designed to meet the creative and economic needs of consumers, brands and talent while, at the same time, driving significant growth and positive financial performance.”
Alloy Digital recently acquired Smosh, the third-most subscribed channel on YouTube, and is part of YouTube’s premium channel initiative with the launch of Smosh Animation, slated for April 2012.