StudioNow Acquires Snapwire The Acquisition Creates the World’s Largest Content Production Marketplace

StudioNow, the leading global content production marketplace for top brands, agencies, and media companies, announced its acquisition of Snapwire, a venture-backed marketplace that connects visual creators to brands and businesses who need photos and videos. The combined enterprise has over one million creators available to create content on a global basis.

Snapwire and StudioNow began discussions late last year when leadership from the two organizations determined that both leverage the creator gig-economy in very similar ways. The combination of StudioNow’s focus on comprehensive video solutions together with Snapwire’s successful focus on a self-serve photography and video marketplace is both synergistic and a compelling offering to both companies’ global clients.

Recommended AI News: Avera Health and Sema4 Announce Data-driven Study to Advance Cancer Treatment Across the Avera Service Area

“For the past 12 years, StudioNow has been instrumental in helping large brands and media companies scale up content creation by matching them with over 12,000 highly vetted and award-winning creators worldwide,” said David Mason, Founder, and CEO of StudioNow. “With the acquisition of Snapwire, StudioNow will incorporate Snapwire’s powerful marketplace technology that allows companies of all sizes to search creators, browse, tag, communicate, organize, and transact with or without the help of one of our talented producers with a combined one million content creators, influencers, and other members of the Creator Economy.”

After the integration of the Snapwire technology, StudioNow will offer brands and businesses multiple options for searching, sourcing, hiring, communicating, and transacting with the Creator Economy via these initial engagement options:

• Managed services, which include dedicated producer(s) either on-site or through virtual production support, for large enterprise brands.
• On-demand producer support on a per-production basis.
• Production project bid posting affording brands to review bids from visual creators in the network.
• Hourly or permanent producer engagements.
• Full-time producer staffing placement.
• A self-serve visual production option via the marketplace platform to execute one-off projects.

Recommended AI News: UAS Drone’s Subsidiary, Duke Robotics, to Move its Operations to a Science & Industry Park with Adjacent Drone Testing Zone

Chad Newell, Founder and CEO of Snapwire, said, “Joining forces with StudioNow will give our Creators greater opportunities with higher payouts. When we were actively looking for a strategic partner, there was no other company better positioned to leverage Snapwire’s technology than StudioNow. With Snapwire’s marketplace platform and StudioNow’s production services, we’ll be a powerhouse fulfilling our mission – to empower creators to do what they love.”

This acquisition is StudioNow’s first in a strategy of consolidating a fragmented segment of the creative industry. “With the Snapwire acquisition, we now have a platform that can handle not only our combined networks but also one that will support that of other acquisition targets, enabling StudioNow to emerge as a market leader within the custom visual content arena,” said CEO, David Mason.

Nashville-based, Martin Miller LLP acted as legal representation for StudioNow, and Cooley LLP acted as legal representation for Snapwire Media, Inc. Madison Alley served as the exclusive financial advisor to StudioNow.

Recommended AI News: Rail Vision Ltd. Receives Japanese Patent Allowance for Railway Obstacle Detection Technology

[To share your insights with us, please write to sghosh@martechseries.com]