Endemol to Invest $40 Million in Global Online Video Channel Network Endemol Beyond
LONDON – Independent TV production firm Endemol on Wednesday unveiled an initiative to accelerate the growth of its premium digital video business worldwide.
The company behind such hit TV formats as Big Brother, Wipeout and Deal or No Deal is launching Endemol Beyond, which will house its international and local digital channels offered across online video platforms including YouTube, Yahoo, AOL, MSN, Dailymotion and others.
The company will initially invest up to $40 million (€30 million) in Endemol Beyond, which will spend money on original productions and talent, select third-party programming and international brand partnerships. Its channels will be themed by genres, including entertainment, film, comedy, fashion and more.
The goal is to accelerate the expansion of Endemol's existing digital video hubs in the U.S., the U.K., Germany, France, Italy and Spain and allow the company to enter growth markets.
The brand name Endemol Beyond is one the company has been using in Germany for its local online video hub since 2012.
"The new venture will mirror Endemol’s core content business, leveraging the company’s global creativity, brands and IP and producing premium entertainment that is exploited across all platforms," the company said.
To date, Endemol has launched more than 100 YouTube channels worldwide.
Georg Ramme, who established and led the German operation, will lead Endemol Beyond International as managing director, reporting to Lucas Church, chair of Endemol’s Group Commercial Board.
"Endemol is more than just a great television company; we're a global content creator across all platforms, and we want to further invest in our own creativity and IP to stay innovative," said Endemol president Tim Hincks. "This scaling up of our online digital video ambition is one of the most exciting journeys Endemol has embarked on, and we have the international network, the talent and the imagination to make it happen worldwide.”
Added Church: "Not only will this add a further dimension to Endemol as a content creator, it will allow us to directly engage a new worldwide fan base for our entertainment brands."
And Ramme said: “The launch of Endemol Beyond will allow us to invest in a new generation of content and talent whilst leveraging Endemol’s global creativity, brands and IP."