The kids’ media brand pocket.watch has closed a $15 million Series B Investment Round led by Viacom, with the two companies partnering to develop and produce long- and short-form content.
The wide-ranging commercial agreement between Viacom and pocket.watch encompasses content, advertising and talent. Viacom and pocket.watch have already engaged in content initiatives together, and in connection with the partnership, the companies have formalized a process for collaborative development. They expect to work together on a range of projects over the coming year.
Viacom will also expand pocket.watch’s ad-sales reach. Through the exclusive partnership, Viacom will package pocket.watch-branded video inventory with Nickelodeon inventory to create advertising reach across digital and traditional platforms.
The companies are also working on a variety of talent initiatives, including jointly identifying up-and-coming talent and creators where the companies are aligned to generate 360-degree talent partnerships. Pocket.watch creator partners will also be invited to a variety of Viacom events such as the Kids Choice Awards.
Sarah Levy, the COO of Viacom Media Networks, will join pocket.watch’s founder and CEO, Chris M. Williams, on the pocket.watch board, with a third Board member to be named by Williams in the coming weeks. Levy said, “Pocket.watch’s unique and comprehensive approach to celebrating the new digital stars of today makes them an outstanding partner for Nickelodeon and our unmatched connections with kids around the world through video, digital and real-world events. It’s great to be in business with them and we are excited to be expanding our relationship with such an innovative new media brand.”
“We started pocket.watch with the understanding that kids today consume entertainment in entirely new ways and in order to reach them, brands have to go to where they are and celebrate the things they love,” Williams stated. “In just a little over a year since pocket.watch’s launch, we’ve seen our business grow exponentially and we are thrilled that a legendary media company like Viacom shares our enthusiasm and chose to lead our Series B and partner with us to help bring our new and powerful approach to audiences around the world.”
The Series B Investment Round was led by Viacom, with participation from new and existing investors including Greycroft’s Tracker fund and UTA Ventures.