Kevin Hart Merges Entertainment Entities, Raises $100 Million

Kevin Hart has brought together his Laugh Out Loud and HartBeat Productions entertainment entities to form a single multiplatform media company under the HartBeat banner, securing $100 million to fuel its growth.

The next-generation media company unites Hartbeat Productions’ best-in-class TV and film production capabilities with Laugh Out Loud’s expansive distribution network, along with its marketing, sales, experiential, branded content, digital and social capabilities.

HartBeat launches with a $100 million investment from private equity firm Abry Partners, which took a minority stake in the new company. As part of the deal, Abry Partners partner Nicolas Massard will be joining the HartBeat board.

NBCUniversal’s Peacock, which signed a multiyear, first-look deal and took an equity stake in Laugh Out Loud in 2020, will remain a shareholder.

With the funding, HartBeat plans to expand its team, accelerate growth for existing brands and franchises, and create new IP.

HartBeat operates under three divisions: HartBeat Studios, which finances, develops and produces film and TV content at the intersection of comedy and culture; HartBeat Media, which connects with consumers around the world through events, gaming, music publishing, Web3 initiatives and an expansive distribution network; and Pulse, the company’s branded entertainment studio, which serves as a creative and cultural consultancy to brands such as P&G, Lyft, Sam’s Club, Chase and Verizon.

“The creation of HartBeat and our capital raise with Abry represent a new era in comedy,” said Hart. “This all started out with a mission to keep the world laughing together, and I’m so proud our teams have delivered on that, putting in the hard work to build the most innovative and inclusive comedic storytelling company. In an industry that loves to say no and close doors, I’ve been bullish about forging our own path and using our success to open doors for others. With this merger and funding, we’re taking the new blueprint we’ve built-in entertainment to the next level and creating opportunities for a new generation of comedic talent. I can’t wait to bring the world more comedians, experiences, and stories with humor and heart.”

“We’ve scaled our business in an ever-changing media landscape by delivering comedy to audiences wherever and whenever they want to laugh and have demonstrated an unmatched ability to generate sales, subscriptions and eyeballs for some of the top entertainment and brand partners in the world while driving cultural currency and conversation among some of the most coveted audiences,” said CEO Thai Randolph. “At HartBeat, we’re building an end-to-end entertainment enterprise that creates, markets and distributes the most culturally relevant IP and experiences in comedy and beyond. The merger and capital raise help us further scale and invest in the future of comedic entertainment, creating more high demand content and experiences at the intersection of comedy and culture.”