The Candle Media co-CEO disregarded the 'valuation haters' and shared his strategy during a keynote appearance at the APOS media summit in Singapore.
At Disney, Mayer’s last major assignment was oversite of the development and launch of Disney+, the company’s vertically integrated direct-to-consumer platform. As other major entertainment platforms followed Disney’s leading in pulling their content back into “walled gardens,” Mayer says he realized the value of high-end content created by independent studios willing to sell it would only soar — and becoming just such a purveyor would be a pillar of Candle’s approach.
Mayer said Hello Sunshine had the three key pieces he and Staggs look for when targeting acquisitions: a well-defined audience with a strong social media presence , the opportunity to create premium film and television to take into the marketplace, plus underlying e-commerce potential.Get Organized With The Home Edit
Mayer said a similar rationale undergirded Candle Media’s $3 billion acquisition of kids entertainment company Moonbug Animation, home to the CoComelon franchise, which counts YouTube’s second-largest subscriber count , has spawned a wildly popular Netflix series, and “licensing and merchandising opportunities that are incredible.”
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