China’s ByteDance in Digital Content Deal With ProSieben’s Studio 71

Patrick Frater

Chinese digital content aggregator ByteDance has signed a licensing deal with Studio 71, a multi channel network that belongs to Germany’s ProSieben group.

Studio 71’s content will be subtitled into Chinese and carried on ByteDance’s Top Buzz platform.

Founded in 2012, and now with backing from Silicon Valley investors that include Sequoia Capital and Digital Sky Technology, ByteDance has scored as a news aggregator. It claims some 600 million registered users and over 66 million daily users for its Toutiao (Today’s Headlines) app. It has operations in China, New York and Los Angeles.

The Wall Street Journal recently reported that terms of a new funding round ascribed the company a valuation of $10 billion. In September ByteDance announced that it would invest $150 million on funding high-quality, short-form content for its global platform.

Studio 71 has over 1,200 YouTube channels. Its roster of creators includes Vitaly Zdorovetskiy (9.2 million subscribers), Epic Meal Time (7 million subscribers), Matthew Santoro (5.6 million subscribers), Tana Mongeau (2 million subscribers), and Logan Paul (13 million Facebook followers).

Related stories

Pluto TV Raises $30 Million From ProSieben, Scripps Networks and Others

U.S., European Media Congloms on Global Boutique Acquisition Binge

ProSieben Orders 'Release the Hounds' in Germany

Get more from Variety and Variety411: Follow us on Twitter, Facebook, Newsletter