Fox Entertainment has announced that it has an equity stake investment in Holywater, an AI-first tech company with a focus on vertical video.
In a press release Thursday, Fox shared that the deal is meant to help the company become a “modern, next-gen entertainment studio” by using the cutting-edge technology from Holywater.
“Innovation in digital storytelling is shaping the future of entertainment and investing in vertical video positions FOX Entertainment to achieve sustained, long-term growth as we build a modern studio for the future,” said Rob Wade, CEO of FOX Entertainment. “HOLYWATER is at the forefront of this evolution, skillfully using technology to fuel creativity. This partnership is all about finding different, innovative ways to tell stories and inspire storytellers and creators like never before, while giving us the tools and flexibility to bring talent ideas to life faster, smarter and across more platforms worldwide.”
Building on the investment in Holywater, the press release notes that Fox will share development deals with “top Hollywood talent” soon. Collaborations will include video series using Holywater’s vertical video capabilities, brand partnerships, working directly with creators, and tie-ins with current and older Fox content.
“Vertical streaming is one of the fastest-growing areas in entertainment, and our goal at HOLYWATER is to make vertical series mainstream by raising the bar on quality and widening the genre slate,” said HOLYWATER co-founders and co-CEOs Bogdan Nesvit and Anatolii Kasianov. “We’ve been focusing on storytelling depth to prove that verticals can carry premium drama, thriller, romance, and more – not just a narrow set of tropes. Our partnership with FOX Entertainment validates that vision and gives us the scale and creative firepower to accelerate it. FOX has already been a collaborative, innovative partner, and together we’re empowering major talent and building a vibrant library of gripping vertical series for audiences worldwide.”
The investment deal includes a commitment from Fox Entertainment to create a portfolio of over 200 vertical video titles for Holywater’s My Drama platform. The first round of titles will include Billionaire Blackmail and Bound by Obsession, both currently in production.
The partnership will also tap into Fox’s talent pool, with projects planned for Gordon Ramsay and Studio Ramsay Global, Bento Box Entertainment, and actors including Denis Leary, Jon Hamm, Hannah Waddingham, Josh Charles, Annie Potts, Minnie Driver, and Ken Jeong, among others.
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