Luxembourg-based media conglomerate RTL Group has consolidated three of its European digital networks into a single entity.
The company’s Nordics-aimed multi-channel network, United Screens, and its Dutch MCN, RTL, will henceforth be folded into Berlin-based Divimove. The company says that the resulting entity will make Divimove the biggest digital network in Europe, with 1,000 creators across nine countries who generate 3.2 billion monthly views. The company also said that it expects the move to double revenues to more than $112 million by the year 2022.
Divimove CEO Tobias Schiwek will remain in that role, and will also lead the transition process. Schiwek will report to RTL Group’s executive committee, while United Screens CEO Natalie Tideström Heidmark will continue in her role as well, reporting to Schiwek. (Across the Atlantic, RTL owns a majority stake in Canadian digital network BroadbandTV, but said in 2017 that it wasn’t moving to purchase remaining shares. RTL also formerly owned the Los Angeles-based beauty and fashion network StyleHaul, which it shuttered in May).
The consolidated Divimove entity plans to expand capabilities in talent management, short-form video production, ad sales, and data, according to RTL. For instance, Divimove will offer partnerships with RTL’s television channels (it owns an interest in roughly 60), including Fremantle, to help expand the presence of its creators beyond social media. Divimove also plans to produce digital pilots, spin-offs, and brand extensions of its TV formats, using the network as a place to test new show concepts.
“We have now defined a new structure and strategy to convert the rapid growth in short-form video consumption into a profitable business,” Thomas Rabe, the CEO of RTL Group said in a statement. “We are bundling our strengths into one company with a hands-on management team, we are investing in talent, creativity, and technology — and we are bringing the cooperation within our group to the next level.”