Vietnam’s entertainment group Yeah1 on January 10 acquired US-based ScaleLab, a well-known Youtube multi-channel network representing some of the biggest social media influencers in the world, in a deal worth US$20 million, said the latter in a statement.
Illustrative photo.
|
The five year-old company was recently recognized as the #1 fastest-growing media company in the US by Inc. Magazine on September, 2018. ScaleLab's full roster of 1,750 influencers encompasses over 400 million YouTube subscribers, and garners 3 billion YouTube views per month.
Yeah1 Group is one of Southeast Asia's largest media conglomerates, operating across traditional, digital, and social media platforms in over 20 countries.
The acquisition is expected to help all parties involved expand their presences globally. ScaleLab's vast network of YouTube influencers is focused heavily on the US, Latin America and EMEA, while Yeah1 has a wide footprint throughout Asia.
"Yeah1 is an exciting, diversified media company with tremendous reach throughout Asia, and bold plans to expand globally. We're thrilled to partner with Yeah1's forward-thinking team and to play a key role in the company's international growth," said ScaleLab Founder & CEO, David E. Brenner.
The newly-merged companies will immediately focus on promoting ScaleLab's talent roster throughout Asia, as well as connecting top Asian talent with the English-speaking world.
Tri Dao Phuc, CEO of Yeah1 Group, stated, "The transaction with ScaleLab is one of our key milestones to further reach a global market. For the next three years, our strategy is to acquire premium social media brands, optimize our existing channels to boost viewership and performance, create new global content, invest in appropriate content for global distribution, license premium content for select regions, and work closely with brands to develop integrated campaigns."
The ScaleLab acquisition is not the first social media-related deal concluded by Yeah1. In 2018, the company acquired Thailand-based multi-channel network, SPRINGme, as well as France-based content creator, Something Big.
Yeah1's acquisition of ScaleLab increases the total monthly YouTube views under the Yeah1 umbrella to 6.9 billion, and total YouTube subscribers to 610 million throughout the world.
