Vice Media is on it’s way toward becoming an even bigger brand. The multi-platform media company has decided to buy Refinery 29. Refinery 29 is another digital media platform that caters to young women, delivering a multitude of news from political to pop culture. The deal has not yet been finalized but many business experts strongly believe that this deal will go through, and could be very beneficial to the Vice Media brand.
Vice Media is concerned with building it’s “digital footprint” Though the platform is doing well on it’s own, with content like Vice News on HBO and its own channel with the company name they feel that there are still ways in which this brand can become bigger than what it is now. Vice Media has chosen to combine with Refinery 29 in order to take the brands majority-female audience, as well as it’s streaming content and licensing.
The other big reason why Vice Media wants to accommodate more digital platforms is because they are aware of their current competition. The digital company is force to compete with platforms like Facebook and Google. In order to be able to run in a race with these two powerful media giants they have to acquire as many similar companies as they possibly can. They also need to reach a larger audience domestically as well as internationally.
Though I didn’t see this coming I think that this merge could be great for the brand.