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MTV Networks Asks - “Can We Keep It?”
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Written By Reprise Media | June 21, 2005 | Share This
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MTV Networks announced yesterday that it bought NeoPets.com, a 25 million member online community devoted to fictional digital pets for $160 million.
That’s cute and all, but why should we care? Well, here’s why:
- Privately held and profitable since 1999, NeoPets is consistently among the Top 10 stickiest sites for kids.
- Check out these numbers: 258,762,490,000 pages viewed, 98,494,827 “pet” owners and 141,014,862 pets
- MTV Networks already owns Nickelodeon and several other teen brands, this move confirms the company as a major player in the online space
- International impact - in addition to English, the site is available in Japanese, traditional and simplified Chinese, Korean, Spanish, French, German, Italian and Portuguese, allowing kids (and adults) to interact with one another on the site (and expose them to advertising, over 60% of the firm’s revenue)
- This is part of a larger trends of traditional media outlets buying new media outlets, and it’s not hard to imagine the integration possibilities - a NeoPets show on Nick Jr, perhaps?
The New York Times has more.
Topics: Investment, M&A |
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