Fox Entertainment has acquired HOLYWATER for an undisclosed amount. This corporate acquisition integrates HOLYWATER's advanced AI and creator technology into Fox's expanding entertainment portfolio. HOLYWATER, a global tech company founded in 2020, has quickly gained recognition for reshaping entertainment by empowering creators and delivering diverse content. The company reaches over 50 million users and has accumulated 100 million hours of streamed content, with its innovations in AI-powered storytelling and vertical series earning industry accolades.
HOLYWATER's product suite includes My Drama, a leading vertical series platform; My Passion, a top e-book platform; My Muse, an interactive AI-powered streaming service; and Freebits, an ad-supported vertical streaming offering. Originally founded in Ukraine, the company now operates globally with a team of over 200 specialists, leveraging AI to streamline content production and distribution. It has been featured by Forbes US and TechCrunch for its transformative impact and received awards for its AI short film and streaming service, My Drama.
This acquisition is strategically aimed at enhancing Fox Entertainment's digital capabilities and expanding its reach into rapidly evolving content sectors. By integrating HOLYWATER's expertise in AI-driven content creation and its established platforms, Fox intends to capitalize on innovative storytelling formats and efficient production models. The synergy is expected to accelerate the development of personalized and interactive entertainment experiences, leveraging HOLYWATER's proven ability to cultivate original stories and engage a global user base.
The combined entity is anticipated to drive future innovation in the entertainment industry. This corporate transaction focuses on leveraging HOLYWATER's technological prowess and established digital ecosystem to complement Fox Entertainment's extensive content and distribution networks, creating a more dynamic and diversified entertainment offering for audiences worldwide.