The Walt Disney Company is set to make even more money after it was just recently announced that the company has just purchased Maker Studios, which is a top YouTube multichannel network.
Maker Studios is best known for producing video shorts on Youtube, which are usually meant for a teen to young adult audience; otherwise known as the millennial generation.
Variety stated that the Walt Disney Company purchased the Maker Studios network for $500 million and that after the purchase was announced Disney shares were up about 0.3 percent.
Disney claims the main reason for the purchase was because the cooperation strives to always be connected to a younger audience and Maker Studios is the perfect outlet to achieve that goal.
According to CNN, a press release about the purchase stated, "By acquiring Maker Studios, Disney will gain advanced technology and business intelligence capability regarding consumers' discovery and interaction with short-form online videos, including Disney content.”
Since Disney already dominates the television and film universe, the company is now seeking to take over the online world as well and will now be in web series and video shorts thanks to the purchase of Maker Studios.