Jukin Media Raises Money from Bertelsmann, Allen DeBevoise, Others
Jukin Media has raised $1.2 million in a new “strategic” round of financing that includes existing investor Bertelsmann Digital Media, and new investors Peter Guber (chairman and CEO of Mandalay Entertainment), Allen DeBevoise* (chairman of Machinima), Canyon Creek Capital, Karlin Ventures, and Kevin Gould of Kombo Ventures.
Though Jukin claims it’s already profitable, the company says this new influx of capital — which came under “favorable terms” — will provide a “cash cushion” as it invests more aggressively in product, technology, and original content.
On the latter front, Jukin Media sees possibilities in developing content and formats around user-generated clips, for both web and TV. (The company specializes in finding trending user-generated videos on YouTube, and then acquiring and licensing them to networks, individual TV shows, and advertisers.)
“It’s a no-brainer for us to segment our library and create TV and digital formats around different content verticals like fails, pets, extreme sports, and so forth,” says Jonathan Skogmo, the company’s founder and CEO. “My background is in creating and producing programming around UGC, so I’m excited about Jukin’s future in that regard.”
Prior to launching Jukin, Skogmo has served as a producer for companies like Pilgrim Films & Television, Nash Entertainment, Asylum Entertainment, and First Television.
While a multi-channel network on YouTube, Jukin is also careful to distinguish itself by pointing out that it owns the channels and content it distributes on YouTube, allowing the company to retain all of the revenue (post YouTube’s cut) generated by ads.
That said, YouTube revenue accounts for only “a fraction” of the company’s total income, with most coming from its flagship licensing business.
Overall, Jukin’s YouTube network reached 18 million unique viewers in the US in August, according to comScore — the best month in company history in terms of video views and revenue, says Skogmo.
In a previous round, Jukin raised $1 million from Bertelsmann, Maker Studios, Launchpad LA, Richard Wolpert, and Brad Zions.
* Allen DeBevoise is an investor in VideoInkTags: Allen Debevoise, Bertelsmann Digital Media Investments, Canyon Creek Capital, financing, Jukin Media, Karlin Ventures, Kevin Gould, Kombo Ventures, Mandalay Entertainment, MCN, Peter Guber, YouTube Creators