Credit: Ed Crisostomo/The Orange County Register via AP
Financial terms of the deal were not disclosed. It was first reported on Monday that Viacom was near a deal to acquire the confab, which began in 2010. UTA, which represents VidCon, brokered the deal with Viacom. UTA will continue to rep VidCon, overseeing sponsorship sales globally and helping to expand the conference internationally.
The move is part of Viacom’s efforts to expand beyond its TV legacy into next-generation entertainment platforms, as well as to expand the media conglomerate’s live-events business. The acquisition also raises the prospect of VidCon coverage and related programming being carried on Viacom’s cable nets, which include Nickelodeon and MTV. In recent years, Nickelodeon has had a sizeable presence sizable presence on the show floor at VidCon events.
VidCon was founded by YouTube’s popular Vlogbrothers, John and Hank Green. Each year, VidCon attracts thousands of attendees to the Anaheim Convention Center in Anaheim, California for four days of events, all aimed at creators, fans, and executives within the online video world. Eight years after it was founded by Vlogbrothers co-hosts Hank and John Green, VidCon is the preeminent event of its kind, at least within its own industry; In 2017, VidCon’s flagship event in Anaheim attracted more than 30,000 attendees, 80 sponsors, and 45 exhibitors.
“VidCon has become the foremost gathering place for the passionate online video community, and the access to talent, experts and education that VidCon provides for attendees is unparalleled,” said Jason Jordan, Viacom’s Executive Vice President (EVP) of multiplatform strategy and operations, said in announcing the pact.
The explosion of online video content internationally has prompted organizers to introduce editions in Amsterdam and Australia. VidCon Europe will take place March 22-24 in Amsterdam and VidCom Australia will take place Sept. 1-2 in Melbourne. With the acquisition, Viacom sees an opportunity to expand the conference franchise footprint to new international and domestic markets.
Under the deal, VidCon will remain a standalone subsidiary operating independently, according to Viacom. VidCon will continue to be led by Chief Executive Officer (CEO) Jim Louderback and remain in its current offices in Montana. Co-founder Hank Green will continue be involved and work closely with the team.
“I’m so happy that we found such a strong, successful, and progressive company to give our team the stability and resources needed to make bold moves at home and grow what we’re doing internationally,” Hank Green said in a statement, adding that Viacom “has decades of expertise creating incredible live events for fans.”
Over the past year, Viacom has been ratcheting up its focus on social media and internet video — an attempt to reach Gen Z and millennial audiences, demos that have been at the core of its TV properties.
VidCon will continue to be based in Green’s home state of Montana. Jim Louderback, who ascended to the company’s CEO position last year, will retain his role after the deal is finalized. UTA, which has been helping VidCon from a strategic and sponsorship sales standpoint since 2012, will also maintain its role post the acquisition.
The financial terms of Viacom’s acquisition have not been shared publicly at this time.
Viacom's latest acquisition will allow the business to gain access to digital-native influencers and their passionate fans. The conglomerate previously expanded into online video hiring veteran exec Kelly Day - previously chief business officer for Awesomeness — to run a newly formed digital studio dedicated to short-form content. “We’re huge fans of the VidCon team, and we share the same enthusiasm for the power of connecting talented creators with their incredible fan communities,” said Day in a statement. “This team has built an unprecedented live experience that brings together the global online video community in celebration of the people and platforms shaping the future of content, and we’re excited to join forces as we look to expand our slate of original digital programming and partnerships.”
Last month Viacom acquired Whosay, an influencer marketing firm incubated by CAA that specializes in targeting young audiences online with branded content.
Sources: Variety, TubeFilter.
Blog is Viacom's official announcement, via Viacom's corporate blog:
Viacom Acquires VidCon, Boosting Live Event and Digital Businesses
In a move that will accelerate its participation and investment in next-generation platforms and expand its focus on live events, Viacom has acquired VidCon, host of the world’s largest multi-day conference for the global online community.
VidCon – which will remain a stand-alone entity and retain its senior leadership team – will be able to considerably expand its global reach with the start-up spirit that has allowed it to flourish.
“VidCon has become the foremost gathering place for the passionate online video community, and the access to talent, experts and education that VidCon provides for attendees is unparalleled,” said Jason Jordan, Viacom executive vice president of Multiplatform Strategy and Operations. “We’re excited to partner with the team to help achieve their vision and expand VidCon’s reach around the world while maintaining the grassroots energy and authenticity that makes the experience so unique and special to so many.”
Moving Viacom to the center of the online video landscape
The announcement follows Viacom’s November launch of Viacom Digital Studios under President Kelly Day and last month’s acquisition of influence marketing firm WHOSAY, underscoring the company’s push onto the next-generation digital platforms at the center of our fans’ lives.
Even as VidCon expands the reach of its eponymous events, the company’s capabilities will both complement and bolster Viacom’s ongoing digital efforts.
“We’re huge fans of the VidCon team, and we share the same enthusiasm for the power of connecting talented creators with their incredible fan communities,” said Day. “This team has built an unprecedented live experience that brings together the global online video community in celebration of the people and platforms shaping the future of content, and we’re excited to join forces as we look to expand our slate of original digital programming and partnerships.”
Boosting Viacom’s growing live event portfolio
Last year, Viacom launched Comedy Central’s inaugural ClusterFest, which attracted 40,000 fans and rave reviews. The BET Experience brought in 165,000 fans. Paramount Network’s Bellator MMA visited New York’s Madison Square Garden for the first time.
This was all part of Viacom CEO Bob Bakish’s long-term strategy to considerably increase the number, reach and impact of live events in the company’s portfolio. VidCon fits perfectly within those plans.
With more than 30,000 attendees and 80-plus sponsors (including, for many years, Viacom), at its flagship Anaheim event, VidCon has become the largest multi-day conference of its kind and cemented itself as the premier event for the worldwide online video community. And while VidCon has already carried this momentum into events in Amsterdam and Melbourne, Viacom’s global network of platforms and properties give it the resources to supercharge that reach both internationally and within the United States.
“I couldn’t imagine a better partner to help VidCon continue its mission of democratizing the creative economy around the world,” said Jim Louderback, CEO of VidCon. “Viacom’s expansive reach across all of our key constituents will give us the opportunity to expand our global footprint more rapidly. We’re also looking forward to their expertise in pioneering and executing live fan-first events – from the Video Music Awards and BET Experience to Comedy Central’s ClusterFest – as we continue to make VidCon a life-changing experience for those that create and love online video.”
VidCon will remain a standalone subsidiary and voice for democratizing the creative economy
From its offices in Missoula, Montana, Louderback and co-founder Hank Green lead a 20-person team that has established an important meeting place, safe space, and community-driven destination for online video creators and their fans. They have long partnered closely with United Talent Agency, who has pushed global sponsorship sales to maximize the organization’s visibility and impact.
None of this will change (though Louderback will report to Viacom’s Day and Jordan) – Viacom will simply provide more resources and a bigger microphone to allow VidCon to continue nurturing the online video community and ecosystem.
“I’m so happy that we found such a strong, successful, and progressive company to give our team the stability and resources needed to make bold moves at home and grow what we’re doing internationally,” said Green. “Viacom has decades of expertise creating incredible live events for fans, and we are building something truly unique by blending that with our team’s deep care and passion for the community and culture of online video. I’m so excited to be part of this team and to continue our work connecting people, providing amazing experiences and helping creators create.”
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