MTV Acquires iFilm.com (Still Not Playing Videos)
|
Written By Reprise Media | October 17, 2005 | Share This
|
|
MTV Networks has acquired the popular online video provider iFilm for $49 million dollars, according to a statement released late last week.
iFilm is said to own the largest library of short-form entertainment on the web and has an audience of approximately 10 million users per month.
MTV’s acquisition is part of a larger trend of beefing up its online offering, which is paying off well according to this article in Forbes. A company exec said that “Viacom’s young Internet and mobile businesses are already generating close to $200 million per year.”
Then there’s the added benefits of more ad space for Viacom, more downloadable content for users and the ’smooth sailing in the wake of the new Video iPod’ well.
Read more about what this means from an indie filmmaker’s perspective here.
Topics: Investment, M&A |