Moonbug Entertainment, fresh off of its $2.7 billion sale to Candle Media, is expanding its footprint. The company is acquiring Little Angel, a YouTube network with more than 88 million subscribers, the company said Wednesday.
Little Angel will join Moonbug’s other kids properties, which include Cocomelon and Blippi, in the company’s portfolio. Both have strong YouTube presences and have also expanded to paid streaming services. Like Cocomelon, Little Angel uses 3D animation and original songs to entertain children, with education experts making sure the content is age-appropriate and contributes to development.
Moonbug plans to take a similar approach to Little Angel by “investing in content, expanding distribution to its global network, and creating more ways for audiences to engage with the brand,” the company says.
The deal, terms of which were not disclosed, “underscores our commitment to investing in the continued growth and success of the companies and brands within Candle,” said Candle co-CEOs Kevin Mayer and Tom Staggs in a statement.
Candle has been aggressively making acquisitions and investments in recent months, buying stakes in Will Smith’s Westbrook Entertainment and Reese Witherspoon’s Hello Sunshine, and buying Fauda producer Faraway Road. Wednesday’s Moonbug deal suggests that they expect the companies they acquire to continue their own development strategies as well.
“Little Angel is loved by families across the globe. Its irreverent humor and relatable world make it a strong addition to our IP portfolio,” said René Rechtman, Moonbug Entertainment co-founder and CEO, in a statement. “There continues to be a tremendous demand for great value-based kids’ content that connects with a global audience, and this acquisition represents an important opportunity for us to build another global entertainment franchise.”
The Link LonkFebruary 09, 2022 at 11:11PM
https://www.hollywoodreporter.com/business/business-news/moonbug-buys-little-angel-youtube-1235089828/
Moonbug Entertainment Buys Little Angel YouTube Franchise - Hollywood Reporter
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