The UK's largest commerical broadcaster ITV has revealed the three media and entertainment businesses from the Studio 55 programme - Live Tech Games, Metavision and Woo - in which it will be providing financial backing.
Announced last autumn, Studio 55 Ventures is a new collaboration with the strategy and innovation firm Founders Intelligence, which seeks to invest in new business ideas that are aimed at enhancing ITV’s reach among 16-34 year olds. Each of the successful brands applied through the scheme and was given a programme of training and mentoring from ITV Executives and Founders Intelligence, and access to ITV’s network of strategic assets and contacts.
Live Tech Games claims to be pioneering a new wave of mobile entertainment, creating live, player-vs-player, short-form games and transforming them into rewarding nationwide experiences directly from the user’s mobile phone. The company is developing simple games that are designed to bring the public together virtually in 10-minute bursts of adrenaline that exhilarate players.
Metavision is an agency and studio bringing entertainment IP and brands to the Metaverse – the emerging virtual shared spaces driving a fundamental shift in how users engage with others and consume content online. Metavision will lead the expansion of ITV’s IP and brand partners into Metaverse platforms, as well as driving the group’s long term strategy around the convergence of gaming and entertainment in these spaces.
Woo is a wellbeing-driven media platform, lifestyle brand and marketplace aimed at reimagining wellness for Generation Z, making solutions for mental health and wellbeing relatable, aspirational and culturally relevant. Woo comes to life through a digital-led content proposition alongside a marketplace of curated consumer products across categories such as supplements, apparel, tech and beauty.
Dan Colton, group strategy and transformation director at ITV, said: “When we launched Studio 55 Ventures we set out to find business propositions that could increase our engagement with 16-34 year olds by leveraging ITV’s globally recognised IP and our unparalleled commercial audiences. I’m thrilled that we’re able to bring the ambitious entrepreneurs behind Live Tech Games, Metavision and Woo into the ITV fold.”