In a recent statement, AT&T announced its acquisition of Fullscreen, a YouTube Channel that boasts subscriptions of more than 450 million with 4 billion monthly views. Fullscreen is supported by a network of more than 50,000 content creators and is the one of the most popular channels on YouTube. The move shows that services providers are well on track to tap the growth in the digital services segment, specifically in the content and application market that is growing rapidly on the back of increased high-speed broadband penetration and widespread use of smart mobile devices that support the browsing and consumption of rich digital services.
The acquisition, which will be executed via Otter Media, a joint establishment by AT&T and the Chernin Group will result in Otter Media holding a majority stake in Fullscreen. Chernin Group is an independent media holding company founded by Peter Chernin while Otter Media was set up earlier this year to acquire, invest in and launch global over-the-top (OTT) video services. According to AT&T, Fullscreen CEO and Founder George Strompolos will remain the major owner of Fullscreen and will continue his role as CEO while the rest of Fullscreen's management team will continue in their existing positions.
"Our relationship with George started over three years ago when he launched Fullscreen in our offices. Since then, George and the Fullscreen team have achieved something remarkable – they have built one of the largest online content distribution networks, as well as created a leadership position in youth-oriented video programming. We’re thrilled to be working with him and his management team in this next chapter for the company. Fullscreen’s support for content creators, its relationship with YouTube and its passion for delivering entertainment to youth audiences around the world are extremely appealing to us.”
- Peter Chernin, chairman and CEO of The Chernin Group
"This is a huge win for Fullscreen and our creators. Peter Chernin, Jesse Jacobs and the entire team at The Chernin Group have supported our vision since day one. With AT&T as a strategic investor in Otter Media, we are well positioned to redefine youth media in today’s digital-first world. We could not ask for a better opportunity.”
- George Strompolos, CEO and Founder, Fullscreen
"We are excited to have Fullscreen as an integral part of Otter Media, as this supports our focus on youth-based content."
- Aaron Slator, President, Content Development, AT&T