The JV will combine Discovery’s Velocity channel with TEN’s MotorTrend.com, Motor Trend YouTube channel, the Motor Trend OnDemand OTT service and other assets.
According to Discovery, the combination of Velocity with TEN’s automotive digital, direct-to-consumer, social and live event portfolio including Motor Trend, Hot Rod, Roadkill, Automobile, and more than 20 others, will create one of the leading automotive media companies in the US, with a cumulative reach of more than 150 million users, spanning over 50 brands across TV, digital, subscription video-on-demand, social, print and live event properties.
Velocity is available in 73 million homes, while Motor Trend OnDemand has close to 100,000 paying customers. Motor Trend also has over five million subscribers on YouTube, accounting for 1.5 billion cumulative video views.
Discovery will take a majority controlling interest in the venture. Paul Guyardo, chief commercial officer for Discovery Communications, will serve as CEO and chairman. Scott Dickey will serve as president of TEN and Bob Scanlon will be president of Velocity and TEN video content. Both will report to Guyardo.
The venture takes Discovery into the direct-to-consumer space in the US for the first time.
“Continuing with Discovery’s strategy to reach superfans on all platforms in popular and durable content categories, this joint venture brings together the most trusted media brands in the automotive industry to create a multiplatform business with the reach, talent, and consumer insights to nourish car enthusiasts on all devices,” said David Zaslav, president and CEO, Discovery Communications.
“By combining popular brands like Motor Trend, Hot Rod and Velocity, this venture will create a content engine that fuels not only our linear platform but also new direct-to-consumer, social and mobile opportunities with the goal of owning the car vertical across all platforms.”
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