Continuing its spending spree in the U.S., the UK’s ITV has completed its third Stateside digital investment deal this year. The broadcaster has taken a leading position in a strategic funding round undertaken by Zealot Networks. Zealot is a digital-first media company and growth accelerator that delivers multi-platform revenue, distribution and development opportunities to content creators. Launched in August by former Maker Studios founder and CEO Danny Zappin, the LA-based group has already acquired Audio Micro Inc, the parent company of AdRev, and has a number of other deals in the pipeline. ITV is Zealot’s first media industry investor and will have a board position; financial terms were not disclosed.
Along with the production companies it owns in the U.S., ITV also has a portfolio of digital investments that includes minority stakes in Culver City’s Indigenous Media and New York-based Believe Entertainment.
Kevin Lygo, Managing Director, ITV Studios, said: “Danny Zappin has been at the forefront of digital media in the U.S. for some time and it’s fantastic to be part of this exciting new venture. A key part of ITV’s strategy is to exploit the increasing global demand for quality content across a range of platforms, which closely aligns with Zealot’s own ambitions to not only distribute content across its own sites, but also to third party platforms such as YouTube, Vine and Instagram.”