Canada's BroadbandTV Buys Rival YouTube MCN YoBoHo
The Mumbai-based company claims to be one of the leading kids multi-channel networks.
Canada's BroadbandTV has agreed to acquire rival Indian MCN YoBoHo to boost its kids and family market reach on YouTube.
Terms of the deal were not disclosed on Tuesday, but the transaction for the top YouTube multi-channel network was financed by RTL Group, which has a controlling stake in BroadbandTV. "BroadbandTV currently represents two-thirds of RTL Group’s online video views, and its acquisition of YoBoHo is another milestone in our joint efforts to achieve leading positions in all segments of the rapidly growing online video space,” said Guillaume de Posch, co-CEO of RTL Group, on Tuesday in a statement.
Vancouver-based BroadbandTV’s technology detects videos uploaded by fans on YouTube and allows content creators and distributors to monetize the content. YoBoHo, which has digital content teams in Los Angeles and London, will bring BroadbandTV another 27 vertical YouTube channels, including HooplaKidz, a pre-school and K-12 educational network, and a video library of over 8,000 titles.
YoBoHo is headquartered in Vancouver and has the bulk of its operations in India, according to BroadbandTV. All 55 existing YoBoHo employees will join BroadbandTV.
"We’re very pleased to conclude the acquisition of a top player in the kids space at a time when the kids content vertical is experiencing burgeoning growth,” said BroadbandTV CEO Shahrzad Rafati in a statement. BroadbandTV has followed YouTube, Netflix, Amazon, Crackle and Hulu in creating more original video content to boost its overall viewership.
The YoBoHo deal accelerates the YouTube aggregator's push into original content. YoBoHo founder and CEO Hitendra Merchant in his own statement said the tie-up with BroadbandTV meant the kids-focused MCN could now "accelerate our international footprint, advance our major content production efforts and scale our business by leveraging their cutting-edge technology and powerful MCN business."