ITV backs 3 Studio 55 ventures
July 26, 2021
ITV has announced the three successful media and entertainment businesses from the Studio 55 programme – Live Tech Games, Metavision and Woo.
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 unique, solve identifiable consumer needs and which are aimed at materially enhancing ITV’s reach amongst 16-34 year olds.
Live Tech Games is pioneering a new wave of mobile entertainment, creating live, player-vs-player, short-form games and transforming them into rewarding nationwide experiences directly from a mobile phone. The company is developing games that are designed to bring the public together virtually in short ten-minute bursts of adrenaline that enrich and enthrall players.
Metavision is an agency and studio bringing entertainment IP and brands to the Metaverse – the emerging virtual spaces driving a fundamental shift in how people 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 well-being driven media platform, lifestyle brand and marketplace. 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.”