French broadcaster TF1 has taken a majority stake in local online video entertainment MinuteBuzz as part of a wider push to develop its presence on social media.
MinuteBuzz is popular among French millennials, with a subscriber base of nine million. The outfit recorded two billion views on its platform since the start of this year.
TF1 said its move would enable it to realize editorial and commercial synergies with MinuteBuzz as well as address the needs of brands to enhancetheir marketing strategies with original video content distributed on different social media platforms.
The broadcaster said its acquisition of a majority stake in MinuteBuzz reinforced its position as a key actor in digital in France and its move totarget the millennial audience.
Gilles Pélisson, CEO of TF1 Group said that the move would help bring together the power of its mass reach with the relevance of MinuteBuzz on social media platforms. He said that it would also further the ambition of advertising arm TF1 Publicité to provide new and innovative ways of reaching their target audiences.
Paul Lefevre and Maxime Barbier, founders of MinuteBuzz, said that the partnership with TF1 would allow it to continue to extend its hold on the millennial audience in France, innovate with new entertainment-focused technology and “build the world of tomorrow’.