Endemol is investing an initial €30 million into a new global venture to build on its existing digital video operations, Endemol Beyond.
The content producer plans to create a premium network of connected international and local channels across digital platforms such as YouTube, Yahoo, AOL, MSN and Dailymotion.
Endemol sees the venture as a way to accelerate the expansion of its existing digital video hubs in the U.S., U.K., Germany, France, Italy and Spain, as well as enter growth markets around the world.
“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,” says Tim Hincks, president, Endemol Group. “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.”
The company will invest in high-end original productions, with channels across the network themed by genres, and also plans to acquire third-party programming.
Georg Ramme, who has established and led the group’s German digital operation, will lead the new division as managing director, Endemol Beyond International.
“The launch of Endemol Beyond will allow us to invest in a new generation of content and talent while leveraging Endemol’s global creativity, brands and IP,” says Ramme. “As part of a world leader in creating, producing and exploiting premium entertainment, this new venture couldn’t be more strongly positioned in the rapidly developing digital video market.”