Looking to enhance its reach amongst the 16-34-year-old demographic, the UK’s ITV has acquired a minority stake in Live Tech Games via its Studio 55 Ventures arm. The investment follows a successful pilot project between the two entities that ran earlier this year. Working with ITV’s This Morning team, Live Tech Games kept thousands of viewers engaged after the programme had ended via its Roshambo Live app.
Live Tech Games was founded in 2019 by Nathan Moore and Samuel Worsley, and aims to deliver familiar light-hearted and inclusive games, while still retaining an element of competition. In the last 12 months, the company reports that Roshambo Live has awarded £60,000 worth of prizes to winners across the UK.
The minority stake investment from ITV’s Studio 55 Ventures falls perfectly in line with its mandate, “to work with entrepreneurs to build and scale a business within the organisation.”
“Studio 55 Ventures has sought out new business ideas which bring something fresh and unique to the media and entertainment worlds,” comments ITV On Demand’s Rufus Radcliffe. “Samuel and Nathan perfectly encapsulate what we were looking for: innovative, creative and dedicated to their vision. We believe our investment will allow them to flourish and enable Live Tech Games to work alongside ITV in expanding the reach of our internationally recognised programmes and brands.”