AT&T® Buys Full Stakes in Otter Media

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AT&T® has completed the buyout of Otter Media from The Chernin Group. The media company will be a part of WarnerMedia, owned by AT&T®. Otter Media includes subsidiaries Ellation, which comprises streaming services or brands VRV and Crunchyroll, the brand Rooster Teeth, and the digital media company named Fullscreen. Besides, Otter Media has ownership stakes in the media company Hello Sunshine, and the universal content studio Gunpowder and Sky plc.

The fastest internet provider said that the recently appointed CEO of Otter Media, Tony Goncalves, would continue to run the media company and that he will report to the CEO of WarnerMedia, John Stankey. AT&T® found Otter Media with The Chernin Group as a joint venture in 2014. The media company was found in order to invest and upgrade properties and platforms that took advantage of direct to consumer advertising and subscription models’ growth.

Four years since the founding of the company, the interest in consuming online video content and through mobile devices has increased substantially. In that period, the company gained a worldwide audience of over 93 million unique monthly subscribers, and is on course to deliver more than 75 billion views of video this year. What’s more, Otter Media is one among the ten best subscription video on demand providers with over two million paying SVOD customers.

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Commenting on the full ownership by AT&T®, John Stankey, said, “We are thrilled to incorporate the Otter Media brands and talent into WarnerMedia. Working with Tony, we look to harness Otter’s expertise in feeding the passion of online audiences to augment our portfolio of digital assets and help us further engage, connect and entertain consumers around the globe.”

AT&T® had indicated plans to get complete ownership in Otter Media earlier this year in order to enhance their streaming portfolio, in particular. Since the Otter Media-owned companies have big networks of influencers and talented creators and have deep video content libraries, the acquisition is in line with the plans of the Telco giant.

“Otter is delivering on our mission to build a leading portfolio of direct-to-consumer media brands that have passionate fans and a multi-pronged business model,” said The Chernin Group’s President, Jesse Jacobs. “With AT&T’s portfolio in media, distribution and content, combined with Tony’s leadership, we believe full ownership by AT&T® will take these businesses to the next level.”

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