Dear Media’s Strategic Acquisition: A New Era with Obé Fitness
In a significant move, Michael Bosstick’s Dear Media has acquired Obé Fitness, a digital fitness platform that gained remarkable traction during the COVID-19 pandemic. Since its inception in 2018, Obé Fitness rapidly transformed the way people engage with fitness, particularly as they sought alternatives during lockdowns. Reports from mid-2020 highlighted a staggering 70% month-over-month growth, showcasing how essential home fitness offerings had become. This momentum continued, and by 2021, Obé secured $15 million in a Series A funding round led by Cavu Venture Partners, with participation from notable brands like Athleta and Samsung Next. In 2023, the platform pivoted to offer more personalized training programs, catering to the shifting demands of consumers who desired specific fitness outcomes. This tailoring eliminated much of the uncertainty from workout regimes and aligned well with the rising interest in health solutions, such as their innovative MuscleGuard program aimed at combatting muscle loss.
Meanwhile, Dear Media, founded by Michael Bosstick, has established itself as a powerful player in the podcasting realm. With a diverse array of shows—from Bosstick’s own popular podcast with his wife Lauryn, “The Skinny Confidential Him & Her Podcast,” to Khloé Kardashian’s “Khloé In Wonderland”—the company has grown exponentially, surpassing $50 million in revenue. Its expansion into various media formats, including in-person events and other multimedia ventures, underscores a commitment to diverse content delivery. The acquisition of Obé Fitness presents a strategic opportunity for Dear Media to enhance its brand presence within the fitness domain, allowing it to tap into a dedicated audience that prioritizes health and wellness.
Bosstick expressed enthusiasm about this acquisition, emphasizing its potential to expand Dear Media’s portfolio and better serve its audience. “We’re continuing to expand our owned and operated channels, adapting to how our audience learns, engages, and interacts with our content,” he stated. This acquisition not only expands Dear Media’s influence but also gives it access to Obé’s technological expertise, bolstering its capacity to innovate in both media and wellness sectors. As the company grows its pool of talent and intellectual property, it also seeks to create expansive brand extension opportunities, blending fitness with its existing lifestyle and entertainment offerings.
For Obé Fitness, this acquisition marks an exciting transition. Co-founder Mark Mullett will remain at the helm as president of global entertainment and business development at Dear Media. His commitment underscores an assurance to maintain the essence of Obé, promising that it will continue to operate as a standalone platform. “The same Obé that our members know and love will remain, with new classes uploaded daily by top fitness talent,” Mullett promised. His role will encompass oversight of Obé’s evolution while also fostering its integration with Dear Media’s extensive reach, from events to diverse social media content.
Co-founder Ashley Mills, on the other hand, will remain part of the Obé team for a transitional period of six months before moving on to her next venture, which lies at the intersection of wellness and education. Reflecting on the journey of building Obé, Mills shared her sentiment: “What started as a bold vision to make joyful movement accessible has grown into something far beyond what we imagined.” Her dedication during this transition period speaks volumes about her commitment to ensuring Obé maintains its unique community and continues thriving under the Dear Media umbrella.
This acquisition heralds a new chapter for both Dear Media and Obé Fitness, merging a leading podcasting brand with a dynamic fitness platform. As they unite, the prospects for innovative fitness offerings and engaging content delivery are expansive. The integration of personalized fitness experiences with high-quality media could redefine how audiences engage with health and wellness, marking a significant milestone in the evolution of both companies. As they embark on this journey together, the aim remains clear: to create an enriching ecosystem that promotes well-being through inventive content and effective fitness solutions.