The Fandom platform continues to expand its reach across a variety of entertainment media and games.
San Francisco-based Fandom has announced the acquisition of gaming and entertainment brands from Red Ventures, which acquired GameSpot, Metacritic, and Giant Bomb as part of the 500 acquisition. million dollars from CNET Media Group in 2020. The deal includes GameSpot, Metacritic, TV Guide, GameFAQs, Giant Bomb, Cord Cutters News and Comic Vine. Sources close to Fandom say the deal is worth between $50 million and $55 million.
Founded in 2004 by Wikipedia co-founder Jimmy Wales and entrepreneur Angela Beesley, Fandom provides wiki hosting and fan platform services, providing 40 million pages of content and 250,000 wiki communities for Inform and entertain fans of their favorite video games, movies and TV series.
This acquisition is notable as it greatly expands Fandom’s offerings to now include reviews, ratings, and news. “We are excited to add these powerful, authoritative brands to Fandom. This platform will expand our business capabilities and deliver rich content to our partners, advertisers and fans,” Perkins Miller, Fandom’s CEO, said in a statement. . Miller became CEO in February 2019, when the company rebranded from its old name from Wikia and began updating its platform technology.
According to Fandom, the sites in question collect 46 million active users per month. Fandom CEO Perkins Miller insists on continuing to deliver rich content to partners, advertisers and fans throughout the entertainment and gaming journey. Fandom has expanded across the fan ecosystem over the past few years. The entertainment company acquired ScreenJunkies in 2018, Curse Media in 2019, and Fanatical in 2021.
Acquiring 7 brands will also help expand Fandom’s audience of gamers. It is one of the biggest brands with 115 million video game fans, 17 million content sites and 100,000 gaming communities, according to the State of Gaming 2022 report. In addition, owning assets This digitalization will help Fandom grow its monthly user base to 350 million, making it the 14th ad-supported website in the US.
With advertising slowing down recently, the acquisition came at a time that couldn’t have been better. The company noted in its announcement that the agreement allows Fandom to offer its advertising partners as well as help enhance its data platform and e-commerce and gaming business.