Chernin Invests in Online Video Company

LOS ANGELES: Fullscreen, whose network of YouTube channels generates more than 2.5 billion views a month, has closed a round of Series A funding led by The Chernin Group as well as Comcast Ventures and WPP.

Fullscreen’s roster of clients includes NBCUniversal and Ryan Seacrest Productions, among many others. Its network now encompasses more than 10,000 channels with in excess of 150 million subs.

“Fullscreen’s mission is to empower a new generation of video creators to reach online audiences on a global scale,” said Fullscreen CEO and founder George Strompolos. “We’ve built scalable technology and an incredible roster of talent and brand partners since we were founded just over two years ago. 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.”

The Series A funding will be used to power expansion in the U.S. and internationally across technology, audience development and sales. There will also be investments in new owned-and-operated content initiatives.

“Fullscreen is a company that embraces both creators and technologists, and is influencing how people across the world watch video every day,” said Jesse Jacobs, the president of The Chernin Group. “We first got involved with the company pre-launch two years ago and our conviction around the power of what Fullscreen is building has increased every day since.”

Sam Landman, principal at Comcast Ventures, added, "As the video ecosystem evolves rapidly, Fullscreen is fusing technology and services to simplify operations and maximize opportunity for brand marketers and creators. The company has done an incredible job raising the profile of top talent and brands, bringing their content to the forefront. As a proof point, 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."

“There has been explosive growth in online video, particularly on YouTube, and a growing demand from our clients to reach consumers on its platform as it revolutionizes youth media consumption,” noted Mark Read, CEO of WPP Digital. “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."