California-based digital media company Zealot Networks has acquired Bollywood audio and video content creator Nirvana Digital in a cash and stock deal, reports Stream Daily. The size of the deal was, however, not disclosed. The report added that this was Zealot’s 18th acquisition and its first outside the United States.
Nirvana Digital in February 2014 claimed that it received more than one billion views on its network. The company also claimed to have a collection of over 200 YouTube Channels and over 50,000 videos serving over 2.5 billion minutes of videos on YouTube.
Besides YouTube, Nirvana Digital distributes content to video platforms like Netflix, Hulu, Amazon, Apple iTunes, mobile apps and devices. As a multi-channel network, the company works with small, medium and large content creators and owners to showcase their content on different platform and generate revenue from them. The company also provides infrastructure facilities to creators who may not have access to it.
Following the deal, Nirvana’s U.S. CEO Manu Kaushish will continue to oversee the company from his office in San Francisco and its Indian CEO, Pinakin Thakkar, will work out of its office in Mumbai.
Prior Partnerships: In 2011, Nirvana Digital had partnered with YouTube to offer its content catalog, comprising of Bollywood films and music videos for free viewing on YouTube BoxOffice. It had also partnered with a mobile TV and video streaming provider Yamgo to offer one of its channel Bollywood Gossip on mobile devices.
Other MCN developments
– In August, Singapore-based mobile entertainment platform Migme partnered with Mumbai-based Qyuki Digital Media, a creative multi-channel network which helps content creators grow their audiences on multiple online platforms. Qyuki was founded by leading filmmaker and writer Shekhar Kapur, musician A.R Rahman and new media expert Samir Bangara. In December 2014, Qyuki and Los Angeles-based media company Fullscreen also tied-up to offer Indian digital content creators opportunities to monetize and distribute their content and access to production & technology services from both networks.
– In January, YouTube Multi-channel network (MCN) Ping Digital raised an undisclosed amount in funding from a consortium of angel investors headed by Monisha Advani, co-founder of Hindi film production house Emmay Entertainment.