Warner Music Group’s latest acquisition is an intriguing one: of Israeli company Imgn Media, which creates videos and memes designed to go viral on platforms like TikTok and Instagram.
TechCrunch reported that WMG paid “just under $100m” for the company, which claims that its content generates more than 3bn views a month, with more than 40 million subscribers (i.e. people who follow its channels on the social apps, not paying subscribers).
Those channels range from meme account Daquan and esports/gaming brand Tryhard to ASMR channel So Satisfying – whose crunchy-sound-effects video of a dog eating sushi waylaid us for a full four minutes when we should have been writing this story today.
Anyway, WMG swooped to buy Imgn after recent rumours that it was being eyed by Snap and TikTok. TechCrunch claimed it will remain independent, with WMG planning to “tap it for more insights into where people are going online these days, and what they want to see, so that it can better target its own marketing efforts accordingly”.