Trusted Media Brands, owner of Reader’s Digest, Taste of Home and other lifestyle brands, has acquired streaming and social video company Jukin Media.
The companies didn’t disclose terms of the all-cash deal, although sources told Forbes the transaction values Los Angeles-based Jukin at an enterprise value of more than $100 million.
New York-based Trusted Media said the acquisition creates a platform that reaches hundreds of millions of consumers across web, social, CTV, OTT and print. It also will fuel growth through expansion of streaming capabilities, video production and social media as well as the continuation of digital content licensing, the company added.
Founded in 2010 by its chief executive, Jonathan Skogmo, Jukin Media’s portfolio includes FailArmy, People Are Awesome, The Pet Collective and Weather Spy. The company’s properties reach more than 220 million fans online and generates more than two billion minutes of video viewed each month across streaming TV and social media, according to Trusted Media.
The acquisition of Jukin Media would quadruple Trusted Media Brands' monthly audience reach and combines its portfolio of community-driven content properties. The addition also will strengthen Trusted Media's existing vertical coverage in food, home, lifestyle and wellness, and adds additional content in categories including pets, entertainment and humor. Trusted Media’s properties have a total audience of nearly 60 million, or more than a quarter of U.S. adults nationwide.
"Trusted Media Brands' powerful network of brand relationships, our growing portfolio of community-driven lifestyle media brands and our proprietary first-party data platform, together with Jukin Media's social media, video production and streaming TV acumen, are positioning us for our future and fueling significant opportunity for long-term growth,'' Trusted Media President and Chief Executive Bonnie Kintzer said in a statement. "Our audience benefits from an even broader array of engaging content to fuel their favorite pastimes, and our collective capabilities provide our advertising partners with increased revenue-driving opportunities and a wider audience base across emergent and established platforms.”
In 2020, Jukin Media licensed more than 2,000 video clips for use in major advertising campaigns and also licensed clips on TV and digital properties in nearly 100 countries.
Jukin Media's brands and employees will operate under the Trusted Media Brands umbrella. Jukin Media also adds locations in Los Angeles, London, New Delhi, India and Singapore to Trusted Media’s offices in New York, Milwaukee, Minneapolis-St. Paul, Chicago and Canada.
