The purchase gives Studio71, a unit of Red Arrow Studios, a portfolio of more than 200 total apps, making it a leading distributor of OTT video programming in the “creator” sector. While the company is known for operating a multichannel network and leveraging the scope and power of YouTube, the Unreel transaction is expanding its footprint beyond YouTube and into the living room.
Financial terms of the acquisition were not disclosed.
The acquired apps, which include Throttle.TV, Level One and Fun Zone, have seen millions of downloads and generate tens of millions of views monthly, according to the press release announcing the deal. Both short- and long-form video content is available through the apps, which have distribution via platforms such as Roku, Fire TV, Apple TV, and Vizio smart TVs.
Earlier in 2019, Studio71 partnered with Unreel to expand its footprint off YouTube by creating 100 apps on Roku to distribute content from its top creators into consumer living rooms.
“With this acquisition, Studio71 is definitively expanding distribution off social video platforms like YouTube and becoming a leader in OTT with an expansive network of meaningful brands,” Studio71 VP of Global Distribution Nick Jacklin said.
Beyond added scale, the channels further Studio71’s goal of becoming the top seller of media across multiple video media. Adam Boorstin, Studio71’s Chief Business Officer, said the company is “one of a few premium video properties” able to serve up “brand-safe media at scale” on YouTube but also dominant platforms like Roku.
Unreel will continue to act as a service and technology partner. It will maintain current apps, build new channels for Studio71 and work with Studio71 to drive revenue from connected-TV inventory via Unreel’s proprietary OTT ad platform, Adstack TV.
”We’ve been working with the team at Studio71 for the past couple of years, powering a number of OTT channels for their media properties across all leading CTV platforms,” Unreel CEO Dan Goikhman said. “We’re excited to take our partnership to the next level with the sale of these brands and look forward to continuing to deliver and monetize these and future OTT channels together across all screens and connected devices.”