Rumours were circling earlier this week, and now Nine Entertainment has confirmed it has purchased a major stake in youth publishing brand Pedestrian.tv.
Founded in 2005 by Oscar Martin and Chris Wirasinha, the brand engages over 1.5 million browsers each month and has over 200,000 subscribers to its EDM and social channels.
With a target audience of 16-35 year olds, Pedestrian.tv’s rapid growth has earned it a place in BRW’s Fast 100 in 2012, 2013 and 2014.
“We are thrilled to partner with one of Australia’s fastest growing publishing brands. Pedestrian.tv engages over a million young Australians every month and delivers amazing results for brands,” says Mi9 managing director Alex Parsons.
“Our mission is to create and sell digital products that people and brands love, and in certain categories our strategy is to invest and create opportunities for future growth. We are excited by the opportunity to help continue to build this business whilst learning from the impressive Pedestrian.tv team.”
Pedestrian.tv co-founder Chris Wirasinha adds: “We want to create the number one media company in Australia for 18 to 29 year-olds, and the partnership with Nine helps deliver expertise, infrastructure and Karl Stefanovic to make this vision a reality.”
Co-founder Oscar Martin concludes: “From the two of us working 100-hour weeks out of our parents’ homes to a talented and devastatingly handsome staff of 27 and a partnership with Australia’s largest media company, it’s a wild ride that’s only just getting started.”
The acquisition will not see any changes to Pedestrian.tv’s staff, offices or independence.
