Propagate Scores Investment from Raine Group

Ben Silverman and Howard T. Owens’ indie studio Propagate Content has secured a financial investment from the global merchant bank The Raine Group.

The investment will be used to accelerate Propagate’s growth globally through the launch of new ventures and targeted acquisitions. The studio has 17 series in production and 40 projects in development at more than 21 networks and streaming services, including Apple’s first series, Planet of the Apps. Propagate’s ambitions for the coming year include growing its global footprint with the launch of business units in Latin America, Asia, India and the Middle East.

Raine co-founder Joe Ravitch and Erik Hodge, who heads Raine’s entertainment practice, will join the Propagate board.

“Over the past few years we have seen massive shifts in the media industry that have changed the way production companies have traditionally done business,” said Silverman, chairman and co-CEO of Propagate, and Owens, founding partner and co-CEO. “The world of media and technology continues to evolve rapidly, and we want to have the capital and partners in place to help us grow even faster allowing us to continue to deliver premium content to audiences around the world. Nancy Dubuc and the team at A+E Networks have been fantastic partners, and Joe Ravitch and the team at Raine bring incredible experience and access. We are thrilled to have such best-in-class partners that will help us climb to new heights.”

“We see the future of storytelling as global, and Howard and Ben have a great record of approaching the world that way, building and distributing multinational formats with great success,” said Ravitch. “We are delighted to partner with them to help bring their groundbreaking content to viewers across multiple platforms around the world.”