First We Feast, the studio behind the popular YouTube series ‘Hot Ones,’ has officially been sold for $82.5 million. The deal, announced by BuzzFeed, marks a significant shift for the franchise, as it transitions into an independent entity.
The consortium of investors acquiring First We Feast includes notable figures such as Chris Schonberger, the studio’s founder, and Sean Evans, the charismatic host of ‘Hot Ones.’ Other investors in the group are podcast media company Crooked Media, Rhett & Link’s Mythical Entertainment, and Soros Fund Management, the investment firm led by billionaire George Soros. More investors are expected to be revealed in the near future.
Since its inception in 2015, ‘Hot Ones’ has garnered a massive following, boasting over 14 million subscribers and accumulating more than 4 billion views on YouTube. The show is celebrated for its unique format, where Evans interviews celebrities while they consume increasingly spicy chicken wings. This engaging concept has attracted a plethora of high-profile guests, including culinary icon Gordon Ramsay, actress Jennifer Lawrence, and sports legend Shaquille O’Neal, among many others.
As part of the sale, First We Feast will operate independently under the leadership of Schonberger, who will take on the role of CEO. Evans will step into a newly established position as chief creative officer, maintaining his role as the host of ‘Hot Ones.’ Additionally, Sarah Honda will continue her role as SVP of operations and brand strategy, while Brendan Kelly will oversee brand partnerships and ad sales.
Schonberger expressed enthusiasm about the new chapter for First We Feast, stating, “Today’s announcement marks an exciting new chapter in First We Feast’s history. Being part of this incredible journey has been one of the greatest joys of my life. Our proven expertise in developing compelling formats, iconic IP, and best-in-class interviews makes us uniquely positioned to build on the brand’s momentum and supercharge our growth.”
The investment is expected to enable First We Feast to explore new avenues for growth, including the development of additional platforms, live events, and expanded content offerings. Earlier this year, discussions were underway for ‘Hot Ones’ to produce live shows for Netflix, indicating the studio’s ambition to broaden its reach and innovate within the entertainment landscape.
With the sale finalized, the future looks bright for First We Feast and its flagship series. Fans eagerly anticipate the evolution of ‘Hot Ones’ as it embarks on this new journey as an independent company, potentially leading to more exciting content and collaborations in the future.
