NBCUniversal to Acquire Majority Ownership of How-To Website Craftsy
The website, known as a destination for crafting enthusiasts, will join the NBCU Cable Entertainment portfolio.
NBCUniversal is getting a little crafty.
The media and entertainment company will acquire a majority stake in Craftsy, an instruction website for cooking, baking, knitting and other hobbies, for an undisclosed price. The website will become a part of the NBCUniversal Cable Entertainment portfolio, chairman Bonnie Hammer announced Wednesday in a memo to staff and shared with The Hollywood Reporter. She credited Dave Howe, president of strategy and commercial growth, and his team with the deal, calling it "great news" for the group.
Seven-year-old Craftsy has an audience of 12 million for its expert-led workshop videos and e-commerce shop, with 2 million active visitors a week. The Denver-based company has its own production studio that Hammer notes will become an extension of NBCU Cable facilities. "Just as Universal Cable Productions and Wilshire Studios develop and produce content for our networks and other outlets, Craftsy's lifestyle learning studios supply content for its own branded online network," the exec wrote. "And we believe that the interests and passions of our shared audiences naturally align."
Hammer also noted that there are opportunities to bring on-air and digital opportunities to Craftsy's roster of experts. "Imagine synergies with shows like Bravo's Top Chef and Syfy's Face Off and opportunities to develop creative new content for kinds on Sprout," she continued.
Howe will oversee Craftsy, with co-founder and CEO John Levisay continuing to run the 190-person company out of Denver and Indianapolis.
The deal for Craftsy comes on the heels of Comcast-owned NBCUniversal making investments into BuzzFeed and Vox Media, and investing $500 million in the Snap IPO.