At one point, Machinima was one of the dominant YouTube broadcasters on the Internet. However, lately, it’s seen better days, with a report of losses and lay-offs. That said, Warner Bros. is looking to turn things around with the service.
The studio has invested $18 million in the multichannel network, which includes participation from previous investors such as Google, Redpoint Ventures and MK Capital. This brings Machinima’s raised total to $67 million, up from the $35 million raised from Google a couple of years ago.
Regarding the investment, Machinima has been described as a “pioneer and category leader in the YouTube MCN space,” said Thomas Gewecke, chief digital officer and exec VP of strategy and business development for Warner Bros. Entertainment. “We’ve been impressed with Machinima as a distribution partner, and by their focus on creators and commitment to high-quality, exciting original digital content.”
Machinima previously partnered with Warner Bros. with the second season of the Mortal Kombat: Legacy web series, and this deal is likely to bring more similar content to the network, sooner rather than later.
Source: Variety
