The Transform Technology Summits start October 13th with Low-Code/No Code: Enabling Enterprise Agility. Register now!
The move is the latest in a long line of video companies that have decided to consolidate in order to gain more traction from a mass audience. Earlier this year Maker Studios purchased well-known video site Blip, and last year Alloy acquired DBG. And those that aren’t consolidating are raising massive amounts of funding to build a business that plays nice with YouTube, but ultimately wants to strike out as its own video network — thus cutting out YouTube’s cut of the revenue made on its content.
As for the merger, both Break and Alloy produce short video clips that are targeted at a younger audience, which make them a good match for each other. The two companies will be rebranded as Defy Media, with Break and Alloy each holding a 50 percent stake in the new venture. Alloy’s Matt Diamond will assume the role of CEO, while Break’s Keith Richman will become Defy Media’s new president.
The newly formed Defy Media will now have a combine reach of 30 million YouTube subscribers and about 50 million monthly visitors to both websites, Break and Alloy told the NYT.
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more