In a serious improvement for the leisure trade, BET has turn into Black-owned as soon as once more after 21 years, whereas VH1, for the primary time, now additionally boasts an African American proprietor.
In response to his longtime pal and tv character Rolanda Watts, Tyler Perry has cemented his place in historical past by buying the 2 main tv networks, making him the primary African American to take action.
The acquisition follows the information that Paramount International has sought to promote a majority stake in BET.
Earlier this 12 months, the famend actor, filmmaker, director, producer and entrepreneur expressed optimism about buying BET, stating his eager curiosity if it have been a risk.
Perry, who had already loved success in collaboration with BET, partnering together with his Tyler Perry Studios banner to create the favored streaming service BET+, was no stranger to the community.
He acknowledged the surprising nature of the acquisition, stating, “I’ve been there for 4 years now and had large success. … If that’s attainable, I’m very, very serious about taking as a lot of it as I can.”
The precise monetary particulars of the deal haven’t been disclosed, however consultants on this type of transaction have positioned a big worth on the acquisition of the 2 networks.
With the acquisition, Perry assumes management over BET Media Group, which incorporates different networks reminiscent of VH1.
Since its launch, the BET+ streaming service has skilled exceptional success. In 2021 alone, BET+ was answerable for half of the subscribers and practically all income development for the channel.
The platform options a variety of authentic movies and collection from the intensive BET program library, charming audiences with numerous and fascinating content material.
The acquisition of BET and VH1 marks a big milestone within the illustration and possession of the leisure trade.
Perry’s success as an African American entrepreneur and his dedication to showcasing numerous tales and voices have paved the best way for elevated alternatives and inclusivity within the media panorama.
As the brand new proprietor of those influential networks, Perry is poised to go away an indelible mark on the way forward for Black-owned media and additional amplify underrepresented narratives on a worldwide scale.
