Reddit and Conde Nast owner Advance snaps up majority stake in research firm Newzoo

Date Type Companies involved Size
October 12th, 2018 investment Newzoo Not disclosed
Reddit and Conde Nast owner Advance snaps up majority stake in research firm Newzoo

Dutch market research outfit Newzoo is now a sister company to internet front page Reddit and media publisher Conde Nast.

The Wired and New Yorker owner has bought a majority stake in the research firm, with no financial figure or specific percentage given as to how much of Newzoo Advance now owns.

“Since the recent rise of professional competitive gaming (esports) as a spectator sport, the border with traditional media and sports is blurring," Newzoo boss and co-founder Peter Warman said.

"With new disruptive trends already appearing on the horizon, market intelligence on these topics has become crucial to an ever-growing range of industries. Keeping ahead of the curve requires a specialist firm with agility in its DNA. We are that firm. We set out to find a strong independent partner in media and tech with complementary lines of business. With Advance, we have found exactly that and much more. Being part of the Advance family of companies provides us with new opportunities, such as our partnership with Sports Business Journal – a prospect that I’m particularly excited about.”

CFO and fellow co-founder Thijs Hagoort added: "We will use the investment to expand our organization and global presence, particularly in Asia and the U.S. This capital will also be used to increase investments into big data processing, machine learning, and interface technology that will power Newzoo’s upcoming services and future ambitions.”

This follows fellow relative newcomer in the data and research space SuperData being snapped up by Nielsen Holdings. Mainstream companies wanting to get an insight into the video games market is likely a much better indication of our sector's growth than most. 

PCGamesInsider Contributing Editor

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for, VGC, Games London, The Observer/Guardian and Esquire UK.