Verizon Communications announced yesterday that it has purchased a minority stake in AwesomenessTV, the digital entertainment network geared toward teens and young adults. Verizon is buying 24.5 percent of the video company, now valued at $650 million. DreamWorks Animation owns 51 percent of the unit (it acquired Awesomeness in 2013), and Hearst owns another 24.5 percent. According to the telco, plans include creating a “a first-of-its-kind premium short-form mobile video service featuring leading talent in front of and behind the camera.” Continue reading Verizon Invests in AwesomenessTV to Grow its Mobile Video

As Facebook’s video startup Vessel begins to take shape, the company has aggressively pursued some of YouTube’s most popular online stars. In response, Google has been structuring more lucrative deals for its stars to keep them from leaving. The company has gone as far as offering multiyear deals, performance-based bonuses and additional funding for video production. Although Vessel has yet to launch, it is reportedly looking to secure programming in advance of its debut.  Continue reading Google Offers Special Deals to Keep Top Talent on YouTube