Fullscreen Closes Series A Round from Chernin Group, Comcast, and WPP

/ Jun 17, 2013

fullscreen

Fullscreen has closed a Series A funding round led by The Chernin Group, with additional contributions from Comcast Ventures and WPP Digital. While the announcement didn’t disclose the amount that was raised in the Series A round, a report from AllThingsD in April pegged it at $30 million. When reached for comment, a Fullscreen spokesperson declined to confirm the exact amount.

Fullscreen plans to use the new funds to continue developing its SaaS technology, which allows brands, media companies, and content creators to build audiences for videos and channels on YouTube. The company also has his eyes on developing more original content and expanding its presence worldwide. “This influx of capital will help us accelerate our goal of building a global media company, funding new content initiatives, continuing to invest into new technologies, and furthering our rapid expansion into international markets,” said Fullscreen CEO George Strompolos.

It’s interesting to see who the major contributors are in the Series A round. The Chernin Group, an early-stage investor in Fullscreen, has been in the news quite a lot recently as it is one of a growing number of suitors for Hulu. Comcast Ventures is part of the Comcast/NBCUniversal media behemoth, and has employed Fullscreen in the past to grow NBC Entertainment’s presence on YouTube.

“NBC Entertainment was the first network to use Fullscreen to manage and optimize their presence on YouTube and that successful implementation gave us confidence in their platform, company, and team,” said Sam Landman, principal at Comcast Ventures.

Then there’s WPP Digital, the digital investment arm of holding company WPP. Describing why his company chose to invest in Fullscreen, Mark Read, CEO of WPP Digital, said: “Fullscreen’s model offers unique solutions for both brands and talent, and incredible opportunities for collaboration on both sides. Our partnership with Fullscreen will give our agencies and clients new expertise, insights, technology, and access to help connect with consumers on the world’s largest video platform.”

To us, this is another example of a marriage between old media and new media. Companies like The Chernin Group, Comcast/NBCUniversal, and WPP want access to the YouTube audience that Fullscreen provides. And the MCN does have access: Its network encompasses more than 10,000 channels, 150 million subscribers, and 2.5 billion monthly views. Not to mention a technology platform that not only allows clients to not only tap into this network to get their message out, but to also get that message to the right audiences.

For Fullscreen, it now has the money it needs to expand beyond its core products and services to become a full-fledged global media company, which means creating, developing, and owning more original content, which means more money.

 




travel

5 Emerging Travel and Event Channels On YouTube

 
Fusion Chris Gethard Show

Fusion’s Chris Gethard Talker Gets VR Simulcast

 
VidConLogo

Five Trends in Distribution and Monetization from VidCon Pros

 
Twitch

Twitch Announces New Brand Partners For Its Inaugural TwitchCon

 
Beasts of No Nation

Netflix Positions Beasts of No Nation for Awards Season Competition

 
BuzzNBCLogosmash

NBCUniversal Circles Buzzfeed and Vox Investment

 
russell_simmons1

Russell Simmons’ All Def Digital Inks First Look Deal with HBO

 
whatsfiretalk

Firetalk Gets Shira Lazar’s What’s Trending Podcast

 
SONY DSC

AT&T, Verizon, Facebook YouTube – A Video Industry...

 
Moves Magazine

Moves Magazine Transitioning to OTT Platform

 
MiTu Logo

MiTu Partners with NBC Universo on Series Targeting Latino Millennials

 
RedSeatLogo

Red Seat Ventures – Glenn Beck Execs from The Blaze Turn...

 
ToyotaTundraTRDPro

The Enthusiast Network Accelerates Branded Video Efforts with...

 
Fuisz

Fuisz Media Raises $10M in Series A Financing

 
EllaBackseat_Jukin

EXCLUSIVE: Samsung’s Venture Arm Invests $2M in Jukin Media

 
Jun

Jun Group Raises $28 Million Series A

 
Top Gear Team Amazon Prime

Amazon Signs ‘Top Gear’ Team to Series Deal

 
Golf

PGA Live Launches Golf-centric OTT Service

 
Yahoo_new

Yahoo’s New Messaging App Livetext will Integrate Video and Text

 
CollegeHumor

CollegeHumor Goes Down Under

 
EvaGutowski

Fullscreen Stars Hit the Road with Girls Night In Tour

 
Letv Sports

Chinese Soccer Gets 360-Degree Live Stream from IM360 and Letv Sports

 
dramafever

DramaFever Expands Its KDrama Catalog with Multi-Year Licensing Deal

 
LonelyGirl

Web Series Wednesday – Mysteries

 
Amazon Studios

Amazon Sets Premiere Date for Casanova and Sneaky...