ITV makes Believe with digital prodco investment

UK broadcaster’s latest investment in the US is in digital producer Believe Entertainment Group.

ITV has taken an unspecified stake in the Believe, gaining a seat on the firm’s board in exchange for the investment. ITV will become a strategic partner in the New York-based firm.

This marks its latest US moves after acquisitions of various production companies, including Gurney Productions and Leftfield Entertainment, and the establishment of ITV Studios US Group last September.

Believe is behind short-form series such as The LeBrons, an original animated show starring basketball star LeBron James for Xbox; In the Booth, a DJ Tiësto behind-the-scenes show for YouTube; and Money Where Your Mouth Is, a gameshow for Hulu.

Co-founders Dan Goodman and William H. Masterson III were also behind Seth MacFarlane’s Cavalcade of Cartoon Comedy, and also created online content to help Sacha Baron Cohen’s movie Bruno.

“As the entertainment industry continues to converge to meet the demands of consumers and how they want to view content, this partnership offers both companies a distinct competitive advantage,” said Goodman and Masterson III in a statement.

“ITV will offer numerous opportunities for us to grow our efforts in multiple formats, channels and globally to the benefit of both our talent and brand partners.”

Paul Buccieri, chairman of ITV Studios US Group and ITV Studios Global Entertainment, added: “Believe Entertainment Group’s expertise has generated hundreds of millions of views in just under five years. This added to Dan and Bill’s combined 35 years in advertising, digital, media and entertainment, makes them a compelling strategic partner for ITV.”