Vice Media partners with Savage Ventures to relaunch digital properties

The financial world is buzzing with news of Vice Media’s latest move to revamp its digital properties through a joint venture with Savage Ventures. This strategic partnership will see Savage Ventures investing “tens of millions of dollars” into the joint venture, marking Vice Media’s first significant reinvestment in its digital brands since emerging from bankruptcy last year.

The deal will allow Vice Media to regain branding control over its digital assets, including Vice.com, Munchies, Motherboard, and Noisey, without the day-to-day management responsibilities. This shift in focus will enable Vice Media to concentrate on its B2B franchises, such as Vice Studios Group, Vice TV, and its advertising agency Virtue, as well as relaunch its social media channels to reach its nearly 100 million followers across all platforms.

While the joint venture does not include Vice News’ digital assets, the company plans to continue strategic discussions with global news organizations to amplify its long-form news and documentary content. Savage Ventures, known for managing digital-first brands in lifestyle, sports, wellness, and music, presents Vice Media with an opportunity to expand its brand exposure and produce compelling original content that entertains while pushing boundaries.

This partnership signifies a shift in Vice Media’s strategy towards licensing content to other businesses rather than relying solely on advertising revenue. The company has already begun streamlining its consumer-facing brand portfolio by selling off properties like i-D magazine and Refinery29, marking key milestones in its journey towards profitability.

Overall, the joint venture between Vice Media and Savage Ventures represents a significant step forward for the media company as it seeks to strengthen its digital presence and solidify its position in the market. Stay tuned for more updates on this exciting collaboration in the coming months.