Discovery Communications, owners of The Discovery Channel (as well as the likes of Animal Planet, Science Channel, and the Oprah Winfrey Network), have splashed out to add a new name to their roster, as popular online TV network Revision3 has been purchased for a sum between $30-40 million.
First airing in 2005, the online TV network focuses on a range of original content covering genres including technology, pop culture, video games, and comedy, with access available through a number of platforms (including portable devices and connected TV products such as Roku, Boxee, and TiVo), and collectively recording over 100 million video views per month.
Original content distributed or produced by the network include hit web series such as EpicMealTime (pictured), Scam School, Tekzilla, and Diggnation, amongst others, a collection which seems to now be ultimately owned by Discovery, although the running and structure of Revision3 will stay the same as normal, as described by CEO Jim Louderback: “We’re going to remain focused on the web… producing content for the web and rallying communities around our shows. And now we can bring all of that to Discovery. [With content genres] we’re very complementary to Discovery as far as audience goes. We’re going to be able to expand into new areas, which we were going to do anyways. Discovery is just making it happen much sooner.”
It appears that as well as a potential streamlined method for online shows to make it onto a regular network, Discovery are looking for their own key benefits out of the arangement, as Discovery’s ‘chief digital officer’ JB Perrette added: “We kind of said to Jim, here’s the keys to the vault [of a Discovery-owned content stretching back 25 years]. Let’s come up with some great ideas making use (online coverage) of some of that [old content].”
The $30m+ deal will be seen as one that could benefit both parties, but which one will see a more visible affect over the months to come?