Verizon and Hearst combine youth-focused Complex Media, RatedRed.com and Seriously.TV under Complex Networks banner
Verizon Communications is consolidating its multimedia empire under the banner of one of its recent acquisitions.
The telecom giant said it is working with Hearst to combine its Complex Media, RatedRed.com and Seriously.TV brands under the Complex Networks umbrella. Verizon Communications and Hearst purchased Complex earlier this year, which followed Hearst joining Verizon in purchasing a stake in AwesomenessTV.
Former Complex CEO Rich Antoniello is set to head the new entity, with Hearst Entertainment & Syndication President Neeraj Khemlani and Verizon SVP of consumer product portfolio Brian Angiolet tapped as co-chairmen. The new operation will look to combine efforts of the entertainment brands focused on engaging younger viewers through online and mobile channels.
Verizon claims Complex Networks generates more than 500 million video views each month with a combined social following of more than 75 million users. Those stats are said to represent a top 10 publisher in the U.S. in terms of social interaction and engagement via social media sites like Facebook and YouTube, and a top 15 web property among the 18- to 24-year-old male audience.
“Our partners at Verizon and Hearst respected what we have built with Complex and are now entrusting us with this immense opportunity to bring all of these brands together to build the biggest and best collection of vertical voices of tomorrow,” said Antoniello in a statement. “By combining the resources and assets of our parent companies – with unparalleled offerings in mobile ad and video technology, as well as premium content production – with the differentiation and growth of RatedRed, Seriously.TV and Complex, you’re looking at a set of digital video networks that will continue to grow production, distribution and monetization of must-watch programming for an audience that is as massive as it is engaged.”
AwesomnessTV, which is a content provider for Verizon’s Go90 mobile-focused video platform, and majority owned by DreamWorks Animation, will continue under the leadership of founder and CEO Brian Robbins.
Verizon Communications recently hired YouTube’s Ivana Kirkbride to be chief content officer for its Go90 video service. Verizon CFO Fran Shammo has stated Go90 has “nothing to do with linear TV,” but is instead a mobile-first video service meant to increase the carrier’s revenue opportunities in a business that is related to, but not necessarily dependent upon, Verizon Wireless’ network. The ad-supported service is said to give the telecom operator an opportunity to indirectly do business with customers who are not subscribers to its wireless network.
Bored? Why not follow me on Twitter
