Youth-centered news and entertainment group Vice Media has launched a free-to-watch online television channel to capitalize on the urge for streaming as it pushes a new push for uninterrupted profits.
Channels, live feeds of nonfiction shows e.g. Needles and pins, A documentary-series on tattoo culture, will be available on the U.S. Roku online TV platform from Tuesday, as the company markets itself to potential investors ahead of a planned stock market listing.
As the humidity of investors from digital publishers has cooled, vice executives have set up their company as an entertainment group and television production studio – a field that is swimming money for programming as a streaming service like Netflix Shop.
Jesse Angelo, former chief executive of the New York Post, which runs Vice’s news and entertainment business, said: “We’re going to take advantage.”
Once known as the future of publishing in the critical times of digital advertising, a generation of enterprise-funded companies like Vice have struggled to establish a sustainable business model.
At the same time, he rejected the vice’s comparison with a group like Angelo Buzzfeid.
“There is a misconception that we are immersed in digital media, when in reality, [Vice is] He’s a huge TV production company, ”he told the Financial Times.
“By the epidemic [in] The last 12 months. . We’ve made 60 or 70 television productions. ”
Under CEO Nancy Dubois, the former chief executive of the A&E Network, who took over from founder Shane Smith in 2018, Vice is rethinking his business model while maintaining a reputation for engaging content and spending thousands of years.
Dubuque has slashed spending and laid off hundreds of workers, while using the বিজ্ঞ 250 million debt raised in 2019 to invest in promising business lines in household advertising companies and vice studios, such as its production arm.
He has encouraged Vice Studio’s output for a number of streamers and broadcasters, co-produced projects such as Netflix’s Fire Fest documentary, and recently sold programming on Discovery Plus.
The Vice Streaming channel will focus on unscheduled programming across news, food and culture, said Kate Ward, a former executive of Elizabeth Murdoch’s Shine Group, who heads Vice Studios.
“We’re with viewers wherever they are,” he said, noting the “unprecedented demand for content” and the growth in the market for free, ad-supported streaming services.
The streaming video was powered by Netflix, which does not promote advertising, and companies such as Fox and Viacom have experimented with ad-dependent free streaming channels. Fox expects its Toby streaming service to generate $ 300 million in advertising revenue this fiscal year.
Vice Media lost money last year, but according to people familiar with the money, it gained in the fourth quarter of 2020 and the first quarter of 2021. These people said that this group of Dubuque will be profitable for 2022.
Vice, whose investors include private equity group TPG and media giant Disney, is targeting a 3 3 billion valuation target by acquiring special-purpose acquisition vehicles GC and Co-Holding, a sharp drop from its most recent funding.
People familiar with the plan said it launched the deal this week to institutional investors needed to come on board as shareholders. The Wall Street Journal reported on the Vice Spec plan earlier this week.
Started as a punk magazine in Vice Montreal and reached $ .. 6 billion in valuation in 2017. It expanded to TV through agreements with HBO and international broadcasters and launched a cable channel called Wiesland, which Smith announced would “bring back millennials to TV.”