Discovery Communications has taken a minority stake in VS Media, a MultiChannel Network that has over 55 million subscribers in Greater China.
VS Media was founded in 2013 by media entrepreneur Ivy Wong. It provides production facilities and funding, offering direction and support for cross-marketing, social media and search optimisation to its young content creators.
Commenting on the investment, Arthur Bastings, President and Managing Director of Discovery Networks Asia-Pacific said, “I admire the strong community spirit Ivy has fostered with local creators and their followers. As Discovery looks to build deeper traction in the Chinese-speaking markets, VS Media robust following is incredibly valuable to us. Through their advanced analytics, we can get fully plugged in to the Chinese millennial zeitgeist.”
VS Media is setting up a US$4 million content development fund that will work with creators on local formats. Five have been identified, covering eSports. Virtual Reality, rock music, travel and comedy-drama. All will be shot with local talent.
Ivy Wong, Founder, VS MEDIA said, “This partnership is a significant milestone in our company’s evolution. We believe that everyone can be an influencer as well as a digital entrepreneur. We continue to uncover, nurture and present the next generation of talent, raising the bar and setting industry best practices. Our creators are instilled with a deep sense of professionalism and we help fulfil their dreams by maximising opportunities in and outside of China. VS MEDIA is fortunate to have investors who support our mission”.
Last month VS Media received an undisclosed investment from CMC Holdings.
