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Dreamworks Animation buys an online TV channel

The company's quarterly results improve forecasts


Dreamworks Animation has bought the AwesomenessTV Youtube channel for $33 million, with the aim of entering the online content market. The buyer could pay up to $117 million more if some earning goals are reached in 2014 and 2015.

The company has confirmed that founder and CEO of the online channel, Brian Robbins, will continue to lead the company while also developing a family digital channel for Dreamworks.

AwesomenessTV offers talk shows, reality and scripted productions, as well as sketch comedies. The company also launched a movie at AMC theatres and is planning the release of a TV show on Nickelodeon.

The company has more than 57,000 YouTube channels, with a total of 14.4 million subscribers, and offers more than one million videos have been viewed over 809 million times.

Improving expectations

Dreamworks Animation also published its quarterly results, which showed a 40% drop in profits over the first three months of 2012, with revenues flat at $134.7 million, up from the $96 million expected by market. The Croods was released in the last days of the quarter and could only contribute with 4 of the $480 million that has grossed at the box office.

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