Collective Digital Studio, a Los Angeles multichannel YouTube network, has received an eight-figure minority investment from German media giant ProSiebenSat.1 Group, according to a statement released on Thursday.
The exact amount was not disclosed.
The deal marks a banner week for local YouTube-related content generators. On Tuesday, Walt Disney Co. announced it had acquired Culver City’s Maker Studios in a $500 million buyout that could rise to $950 million depending on performance.
Collective Digital Chairman Michael Green said that while his company doesn’t boast 60,000 channels like Maker Studios, which boasts 5.5 billion monthly views, “We have close to 1 billion views on 600 channels.”
Red Arrow Entertainment, a subsidiary of ProSiebenSat.1, will control the company’s stake in Collective Digital. The programming distributor oversees a group of 15 international production companies in nine countries. Its goal, according to the press release, is to back online talent and develop new content verticals.
Additionally, ProSieben’s own YouTube network, Studio 71, will receive video content from Collective Digital.