Comcast owned NBCUniversal has announced it is placing a $200 million investment in Vox Media. Vox Media operates tech sites such as Re/code and Verge and also owns Polygon a video game review and news site. Other brands under the Vox umbrella are Racked, SB Nation and Vox.com. The company is made up of a group of websites that are quite popular among the youth. The news of Comcast’s investment caused the company’s stock to rise slightly in the stock market.
NBCUniversal is totally owned by Comcast meaning that the ISP will have a stake in Vox Media through the company. Comcast has decided to invest in Vox Media because according to a statement from the ISP Company Vox has a unique tech platform it can use to boost business. Executives at Vox say they will use the funds from Comcast to collaborate with NBC in areas of brand advertising, technological advancement and video programming among other areas.
Are ISPs Purchasing Tech Companies to Launch Video Platforms?
The investment that Comcast has made in Vox Media was expected as it was announced by the company to the public last month. At the time of the announcement, the ISP also announced that it will invest in Buzz Feed as well. The amount of money that Comcast is expected to spend on Buzz Feed is $200 million.
The investment that Comcast has made in Vox Media comes right after Verizon purchased AOL. AOL has a stake in entities such as TechCrunch, The Huffington Post and Engadget among others. Verizon says it is planning to use its news purchases to come up with a unique video platform.
Comcast’s has also just announced that it plans to launch a new video online platform. Comcast’s recent acquisition of Vox Media and its intended investment in Buzz feed will supposedly help the company achieve its goal of investing in the new online video platform. It seems like ISPs are competing as concerns launching innovative media platforms for their subscribers. We can only wait and see which company comes up top.