Sony Pictures Entertainment Enters User-Generated Universe
To gain a foothold in the user-generated video world, Sony Pictures Entertainment has acquired Grouper.com, an independent video community that enables members to watch, share, and create video on the Web. Grouper allows users to browse videos and post them on third-party sites along with a peer-to-peer video sharing network. Users can download videos to mobile devices and edit them from cameras, camcorders, and webcams.
Sony purchased the site for $65 million and said that the acquisition marked a strategic initiative in the field of digital entertainment.
“Consumers are spending more and more time on sites like Grouper, and as one of the world’s largest creators of entertainment, we want to be where the audiences are,” said Michael Lynton, Chairman and CEO of Sony Pictures Entertainment, in a statement. “Many people in the Grouper community use Sony cameras to create videos and Sony VAIO computers and mobile devices to store and view them. It makes sense to complete the circle by having Grouper be a part of Sony Pictures Entertainment, which itself creates so much content for people around the world.”
Lynton emphasized the potential for future development of ad-supported and premium content. He noted that the acquisition also enables the discovery of new talent. “A site like Grouper allows people to showcase their creativity to a vast audience,” he said. “It’s like a virtual, global audition, and a great source of entertainment.”
The Sausalito-based Grouper will retain its current management team as it works closely with Sony Pictures.
Tags: acquisitions, sony, streaming_video and user-generated_content
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