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.

 




katiecouric

Katie Couric is Getting Her VidCon On

Whipclip

Whipclip Raises $40 Million in Series C Financing

Bebo from The Enchantress by Michelle Phan

Michelle Phan Enters Comic Book World with The Enchantress

Collider Movie Talk

Complex’s Collider Acquires ‘AMC Movie Talk’

Digital video industry news today

Monday 7.6.15: News to Know

The People's Network

Robert Rodriguez promotes DIY with The People’s Network

Video on Facebook

What Facebook’s Latest Video Monetization Plans Mean for...

wassabi brothers ear biscuits

How the Wassabi Brothers Get Views on YouTube:...

tv-36723_640

Is Local TV Missing the Digital Opportunity?

Read today's digital video news stories

Quick Breaks: Kin Community Launches Branded Content Studio;...

Lifetime Movie Club

Lifetime Gets into the SVOD Game

Digital video industry news today

Thursday 7.2.15: News to Know

Happy Fourth of July web series

Web Series Wednesday: Dear America, Happy Independence Day

Read today's digital video news stories

Quick Breaks: DramaFever Adds British Titles in US; Rightster...

beet app

Social Video App Beet Isn’t a Snapchat Rival; Its Goal Is...

Magic Leap VR

Former Vevo Chief Rio Caraeff Makes ‘Magic Leap’ as...

Anna Akana_Gidden Media

YouTuber Anna Akana to Star in and Develop Gidden Media Digital...

Digital video industry news today

Wednesday 7.1.15: News to Know

the untitled web series morgan evans is doing for MTV

MTV(Other)’s Newest Series Stars Comedian Morgan Evans

White Room immersive film

Roddenberry Entertainment to Release Immersive Film on Mobile

Screen Shot 2015-06-29 at 11.40.20 AM

Disney Scrambles Up a New Hip Webseries

Read today's digital video news stories

Quick Breaks: Netflix Releases New ‘BoJack’ Trailer;...

Dailymotion

Vivendi Finalizes Purchase of Majority Stake in Dailymotion for...

League of Legends

eSports Gaming & Gambling Platform Unikrn Takes $7 Million...

Digital video industry news today

Tuesday 6.30.15: News to Know

Break Movies

Break Movies signs licensing deal with Paramount

CAA Signs Bart Baker

“King of Parodies” Bart Baker Signs with CAA

Starz Arabia kickstarting SVOD in Middle East

OTT Revenue in the Middle East, Eastern Europe and Africa is on...

Mr Robot

Mr. Robot Scores Big for USA Network with Online Pilot Preview

Read today's digital video news stories

Quick Breaks: Meerkat to Embed Streams for Shark Week; Another...

New Defy Fiat series Bigger Is Better

Chris ‘Big Black’ Boykin Drives a Fiat in New...

Digital video industry news today

Monday 6.29.15: News to Know

Reuters TV iPhone

A Peek Into Reuters Live Video Syndication Play with Mirror Image