Chernin Group Invests in YouTube Network Base79

LONDON: The online video company Base79, which runs the largest YouTube network in EMEA, has received a multi-million-dollar investment from The Chernin Group.

The capital from this equity investment will go toward Base79’s expansion across Europe and into other international territories. The company also plans to build owned-and-operated brands and channels, as well as invest in new products and technology. Base79 currently has more than 300 premium content partners, including BBC Worldwide, Simon Cowell’s Syco and Tiger Aspect. The network generates more than 550 million viewers per month across nearly 550 channels on YouTube. It recently secured four original programming grants from YouTube, more than any other company in Europe.

MMC Ventures is already an investor in Base79.

“We’re thrilled to receive this additional investment and recognition for our business from The Chernin Group, in addition to ongoing support from MMC Ventures. TCG’s industry leading expertise and track record in content, digital media, brand building, international expansion and monetization will be invaluable as we accelerate the company’s international growth and distribution of premium video content across multiple platforms and devices,” said Ashley MacKenzie, the founder and CEO of Base79. “We have experienced extraordinary growth and believe this partnership will allow a new chapter of even greater opportunity.”

“Base79 has established itself as one of the clear leaders in online video, an exciting space that we believe is positioned to grow faster than any other area of media,” added Peter Chernin, the founder and CEO of TCG. “Base79 is one of Europe’s fastest-growing young media companies, and we look forward to partnering with the company and its management team to help build on its vision and capitalize on further opportunities for growth.”

Alex Carloss, YouTube’s global head of entertainment, said: “We view The Chernin Group’s investment in a key partner like Base79 as a sign of the growth of the YouTube ecosystem in Europe. Base79′s deep expertise in rights management and the YouTube platform will continue to help partners control and grow their content businesses on YouTube.”

Bruce Macfarlane, managing partner at MMC Ventures, commented: “MMC Ventures has always believed in Base79—its concept, technology and team—and have been excited to invest from an early stage. We are therefore delighted to be continuing our support for Base79, alongside The Chernin Group, and look forward to its further growth and success.”