Paramount Global is selling its popular creator conference VidCon to the London-based media firm Informa, which is known for owning various fan conventions such as Toronto Comicon, What’s Trending has confirmed.
VidCon, an annual convention that gathers influencers, fans, executives, and online brands, was founded in 2010 by YouTube veterans John and Hank Green. Paramount acquired VidCon in 2018 through its Viacom division.
A Paramount spokesperson told TheWrap on Monday, “Our co-CEOs recently laid out a strategic plan for Paramount, including optimizing the company’s portfolio to position us for the future. While VidCon is not core to our asset mix, we are pleased that it will continue to bring together digital creators, platform innovators, and fans under Informa’s ownership going forward.”
Paramount had previously enlisted American investment bank Oaklins DeSilva+Phillips to find a private equity firm interested in purchasing VidCon, Adweek reported in April.
Informa, which has been active in expanding its portfolio, had earlier this year merged its Informa Tech digital businesses with American-owned TechTarget. In July, Informa made headlines with its bid to acquire Ascential, the owner of the Cannes Lions Festival, for approximately £1.2 billion ($1.6 billion).
“The idea of VidCon being part of a company that specializes in events is probably a positive development,” a source within Informa told Business Insider. The financial details of the VidCon sale were not disclosed.
VidCon 2024, which took place in June in Anaheim, featured notable guests such as YouTube comedian Brandon Rogers and TikTok star Leo González. According to a post-event press release, the convention attracted 55,000 attendees.
ADVERTISEMENT
However, Business Insider reported that this year’s event appeared “more toned down,” with fewer platforms and creator-economy startups compared to previous years. Some of these startups might have chosen to attend other major events like Austin’s SXSW or Cannes instead.
VidCon also hosts events in other cities, including Baltimore, though the Baltimore event was canceled in July. The company announced last month that it would focus its efforts and resources on VidCon’s flagship event in Anaheim, scheduled for Summer 2025.
The cancellation of VidCon 2020 during the COVID-19 pandemic resulted in significant financial losses, exceeding $60 million for both Anaheim and content creators. The conference was also canceled in 2021 due to the pandemic.
On Monday, Bloomberg reported that Paramount is also considering the sale of a dozen independent TV stations, including those in New York, Philadelphia, Dallas, and Tampa. The asking price for these stations could range between $500 million and $1 billion.
