Emap Buys UGC Company

Emap’s consumer media division has paid £8.7 million for the mobile user-generated content business Yospace.

Emap will pay another £5.7 million depending on Yospace reaching certain targets.

Yospace produces ‘See me TV’ for 3 and the ‘LookAtMe!’ service for 02, and also provides services to other major mobile phone operators.

Research from Emap Advertising, released last November, claimed that interactive and user-generated media formats have now become a standard part of today’s media consumption (see Inside Info Reveals UGC Is Now Standard In Media Consumption).

Paul Keenan, chief executive of Emap Consumer Media, said of the purchase: “The acquisition of Yospace is another step in our strategy of focussing resources onto faster growth digital platforms and reflects our commitment to innovation be it in magazines, radio, TV or digital businesses.

“Coupled with Emap’s marketing reach, brands, content and industry relationships, this acquisition will enable us to move forward in the fast emerging mobile user-generated and video content market.”

In 2005, Yospace made a loss of £480,000.

Emap: 01733 568 900 www.emap.co.uk