Chernin Group, Comcast, WPP invest in Fullscreen
Fullscreen, a digital media company that has built one of the largest network of channels on YouTube, has closed a round of Series A funding with backing from heavy hitters in the traditional entertainment world — the Chernin Group, Comcast Ventures and WPP Digital.
The parties refused to disclose the size of the investment, which is believed to be in the “eight-figure range.”
“We think there’s tremendous opportunity in the digital media space to build a truly next-generation global media business,” said Fullscreen Founder and Chief Executive Officer George Strompolos. “We raised this round for the purposes of really trying to go after that opportunity.”
Strompolos said the infusion of cash will allow Fullscreen to increase its investment in original programming, expand its presence outside of North America in markets where it sees opportunities, such as Brazil, India, Japan, Mexico and Russia, and invest in technology and sales.
“We feel that the media company of the future ultimately won’t be built on a satellite in the sky, it’ll be built on software,” said Strompolos. “There’s so much we can do to empower this next generation of creators.”
Strompolos founded Fullscreen in January 2011, after spending more than five years at YouTube building and nurturing its partner program — which is designed to help the site’s content creators to improve their skills, build a fan base and earn more money. He launched Fullscreen to assist this budding creative class with a range of services, including cultivating audiences, making money and collaborating with other online creators.
Fullscreen’s online network has grown to more than 10,000 channels with more than 150 million subscribers and 2.5 billion monthly views. It also assists major brands, including NBCUniversal and Ryan Seacrest Productions, with their YouTube presence.
“Fullscreen is a company that embraces both creators and technologists and is influencing how people across the world watch video every day,” said Chernin Group President Jesse Jacobs. “We first got involved with the company pre-launch two years ago, and our conviction around the power of what Fullscreen is building has increased every day since.”
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