Machinima has already become very successful with its videos on YouTube and through groundbreaking web series like Halo 4: Forward Unto Dawn. Now Machinima is looking to raise $80 million to create long-form video content – 44 minute shows that mimic the standard one-hour TV show (when you strip out commercials).
“The fanboy viewer is crazy, engaged and ravenous,” Machinima CEO Allen DeBevoise told Reuters. “We intend to raise capital to be a company in the spirit of HBO and AMC, but in an over-the-top world,” he said. “Over-the-top” refers to viewers who watch TV shows online, bypassing traditional cable or satellite services.
The new subscription service Machinima plans “is a bold attempt,” said Keith Richman, executive of Break Media, whose ad-supported sites also target 18-to-34-year-old men. “It’s a great demographic and I’m excited someone is trying to find a new way to monetize it. I’m just not sure the market is ready for it.”
Machinima raised $35 million last year in a financing round led by Google, joined by venture firms Redpoint Ventures and MK Capital. The site attracts over 20 million viewers per month on its YouTube channel, making it the seventh largest channel. It’s reasonable to expect that any longform content Machinima introduces might well have game tie-ins, given the demographic the company already attracts.
Source: Reuters
