Digital programmer Machinima has closed a $24 million round of financing led by Warner Bros. Entertainment. Redpoint Ventures, MK Capital, Coffin Capital and Allen DeBevoise — all already Machinima investors — also participated.
This is the second such investment for Machinima in the last year, with Warner Bros. having led an $18 million funding round in March 2014, that was preceded by the layoff of 42 employees, roughly one third of Machinima’s work force. Later that month, former Fox Networks Group CEO Anthony Vinciquerra joined Machinima’s board of directors, and former Ovation television network COO Chad Gutstein was named the company’s new CEO.
“In 2014, Machinima regained our leadership position in the global digital video marketplace by focusing on our Talent Network and transforming our brand into one that is reflective of our content, our audience and our community of creators,” Gutstein said. “This additional funding will enable Machinima to accelerate our growth through increased investments in content and technology that better serves our audiences, advertisers, creators and distributors.”
Machinima is partnering with Warner Bros. on multiple upcoming digital-video projects, including a second season of the Mortal Kombat: Legacy series and animated limited series Justice League: Gods and Monsters Chronicles, both previously announced.
The smarter way to stay on top of broadcasting and cable industry. Sign up below.
Thank you for signing up to Broadcasting & Cable. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.