Disney announced today it’s shelling out $500 million for the YouTube Network, Maker Studios. If certain performance targets are met the deal gets sweeten by $450 million. Not bad for a company that started back in 2009.
Maker Studios is an online video network with some impressive stats: More than 55,000 channels, 380 million subscribers, and 5.5 billion views per month on YouTube.
“Short-form online video is growing at an astonishing pace and with Maker Studios, Disney will now be at the center of this dynamic industry with an unmatched combination of advanced technology and programming expertise and capabilities,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company, in a news release posted on the Disney website.
Maker Studios not move to the Disney lot in Burbank, but remain based in Culver City, according to the Hollywood Reporter.