US company to explore IP collaborations and is set to unveil deals with ‘Hollywood talent’
Fox Entertainment is moving into the vertical video industry by taking an equity stake in Holywater.
Financial details have not been disclosed but the US company said the move will shape its future “as a modern, next-gen entertainment studio”.
Holywater was founded in Ukraine in 2020 and counts more than 55 million users worldwide via its apps, which include series-focused My Drama, book publishing platform FreeBits, and generative AI vertical series production tool My Muse.
As part of the deal, Fox Entertainment Studios (FES) will create and produce more than 200 vertical video titles over the next two years for My Drama, whose recent hits include Spark Me Tenderly, Young Elite and The Unseen Game.
FES’s shows will span all genres in the microdrama space, which has boomed this year in the US following exponential growth in China over recent years.
The first series from FES for My Drama are Billionaire Blackmail and Bound by Obsession, both currently in production and shooting in Atlanta, Georgia.
Fox added that it will work with Holywater to drive ad sales and partner with brands. Development deals with “top Hollywood talent” will be unveiled in the coming weeks, the US company said.
The move will also allow Fox to move deeper into creator-driven content, with potential integration of popular Fox Entertainment IP. Storytelling extensions for current Fox shows and remake projects are being considered.
“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, chief exec of Fox Entertainment.
“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.”
Bogdan Nesvit and Anatolii Kasianov, co-chief execs at Holywater, added: “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.
“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 Raine Group served as Holywater’s advisor for the transaction.
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