Disney has acquired YouTube video network Maker Studios. The company has paid $500 million to acquire the outfit, which is best known for carrying the videos made by YouTube star 'PewDiePie.' Last year PewDiePie beat such stars as Miley Cyrus and One Direction to become YouTube’s most watched star in H2 2013.
Maker Studios has 380 million subscribers, receives 5.5 billion monthly views on YouTube, and controls an existing stable of 55,000 YouTube channels. Maker Studios will not be incorporated into Disney’s gaming operations; it will instead report directly to CFO James Rasulo.
"Short-form online video is growing at an astonishing pace and with Maker Studios, Disney will now be at the centre of this dynamic industry with an unmatched combination of advanced technology and programming expertise and capabilities," Disney chairman and CEO Rober Iger stated.
Maker chairman and CEO Ynon Kreiz will continue to run the network.
"Disney is synonymous with the best entertainment and is the ideal partner for us, strengthening our position as the leading player in online video," said Kreiz.