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Walt Disney Co. (DIS) agreed to buy Maker Studios, a supplier of online video content to YouTube, for as much as $950 million, gaining technology and experience with short-form entertainment.

Disney, based in Burbank, California, will pay $500 million, plus as much as $450 million linked to the performance targets, according to a statement today.

With more than 55,000 channels, 380 million subscribers and 5.5 billion views a month on YouTube, Maker has established itself as the top online video network for young audiences, Disney said. The acquisition is one of the company’s biggest since the $4 billion purchase of Lucasfilm Ltd. in 2012.

“Short-form online video is growing at an astonishing pace and with Maker Studios, Disney will now be at the center of this dynamic industry with an unmatched combination of advanced technology and programming expertise and capabilities,” said Robert A. Iger, Disney’s chairman and chief executive officer.

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