Viacom announced Wednesday that it has purchased online video conference company VidCon for an undisclosed sum.
Speculation that a deal was imminent has been heavy this week. VidCon will be a stand-alone subsidiary of Viacom and its current management team, led by CEO James Louderback and co-founder and chairman Hank Green will remain intact.
“We’re huge fans of the VidCon team, and we share the same enthusiasm for the power of connecting talented creators with their incredible fan communities,” said Viacom Digital Studios president Kelly Day in a statement “This team has built an unprecedented live experience that brings together the global online video community in celebration of the people and platforms shaping the future of content, and we’re excited to join forces as we look to expand our slate of original digital programming and partnerships.”
Created by Hank Green and his brother John in 2010, VidCon has grown into the largest online video conference in the country. Last year’s VidCon in Anaheim, Calif., attracted about 30,000 attendees. VidCon has also expanded to conferences in Europe and Australia.
“I couldn’t imagine a better partner to help VidCon continue its mission of democratizing the creative economy around the world,” Louderback said in a statement. “Viacom’s expansive reach across all of our key constituents will give us the opportunity to expand our global footprint more rapidly. We’re also looking forward to their expertise in pioneering and executing live fan-first events – from the Video Music Awards and BET Experience to Comedy Central’s ClusterFest – as we continue to make VidCon a life-changing experience for those that create and love online video.”