Machinima Closes $24 Million Financing Led By Warner Bros.


LOS ANGELES: Machinima, a digital video site and multichannel network dedicated to fandom and gamer culture, has entered into a $24 million financing led by Warner Bros. Entertainment.

Warner Bros.’ participation in this funding continues the longstanding relationship between the two companies, which has resulted in such live-action web series as two seasons of Mortal Kombat: Legacy. Later this year, Machinima will release Justice League: Gods and Monsters Chronicles, an animated limited series from DC Comics and Blue Ribbon Content, and executive produced by Bruce Timm and Alan Burnett.

The $24 million financing also sees existing investors Redpoint Ventures, MK Capital, Coffin Capital and Allen DeBevoise participating.

Machinima currently attracts an audience of more than 430 million subscribers worldwide, 170 million monthly unique viewers and 3.7 billion monthly video views.

“In 2014, Machinima regained our leadership position in the global digital video marketplace by focusing on our talent network and transforming our brand into one that is reflective of our content, our audience and our community of creators,” said Chad Gutstein, Machinima’s CEO. “This additional funding will enable Machinima to accelerate our growth through increased investments in content and technology that better serves our audiences, advertisers, creators and distributors.”