Dear Media has made a significant move in the entertainment industry by acquiring the popular exercise platform obé Fitness, founded by former CAA agents Mark Mullett and Ashley Mills. This acquisition marks a new chapter for obé Fitness, as Mullett steps into the role of president of global entertainment and business development at Dear Media. Mills, on the other hand, will remain with obé for a six-month transitional period before moving on to pursue other endeavors.
Since its inception in 2018, obé Fitness has gained recognition for its innovative approach to fitness workouts, including collaborations with Hollywood studios for workouts tied to popular films and television series such as “And Just Like That,” “Cruella,” and “The Marvelous Mrs. Maisel.”
Under the new ownership, obé Fitness will continue to operate as a standalone platform within Dear Media. Dear Media CEO and founder Michael Bosstick expressed excitement about the partnership, emphasizing the company’s commitment to expanding its owned and operated channels and growing its talent and intellectual property through new programming.
Mullett and Mills first crossed paths with Bosstick when they appeared as guests on his podcast, “The Skinny Confidential Him & Her Podcast.” Mullett expressed his enthusiasm for the collaboration, highlighting the opportunity to leverage obé’s technology infrastructure and team to enhance engagement with audiences.
Mills echoed Mullett’s sentiments, stating that the vision for obé Fitness has evolved beyond their initial expectations. As she transitions to Dear Media, Mills is already planning her next venture at the intersection of wellness and education.
Dear Media boasts an impressive lineup of podcasts, including “Khloé in Wonder Land” with Khloé Kardashian, “The World’s First Podcast” with Erin and Sara Foster, “Let’s Be Honest” with Kristin Cavallari, “The Toast” with Claudia and Jackie Oshry, and “Not Skinny But Not Fat” with Amanda Hirsch.
In terms of financial backing, obé Fitness secured a $15 million Series A funding round in 2021, led by CAVU Venture Partners with support from Athleta and Samsung Next. Dear Media reports an annual revenue ranging between $50-$100 million, with a substantial 70 percent year-over-year revenue growth rate. The company’s combined social reach across its brands and talent exceeds 680 million.
The acquisition of obé Fitness by Dear Media represents a strategic move in the ever-evolving media and entertainment landscape. With Mullett and Mills at the helm, the future looks bright for obé Fitness as it continues to engage audiences and expand its offerings under the Dear Media umbrella.
