Warner Bros Leads $18M Financing Effort For Machinima

This was expected, and needed, as evidenced by last week’s announcement that the online video service that targets gamers (read: teenaged boys and young men) axed about 30% of its workforce. But it’s interesting to see how much today’s release plays up the potential partnerships between Machinima and Warner Bros. Machinima CEO Allen DeBevoise says that there are “myriad opportunities” to connect their audiences. And Warner Bros Television Group President of Business and Strategy Craig Hunegs says he’s “excited” about the ability “to reach new audiences, create new original content, and discover new talent.” Don’t be surprised if they look for projects outside of Google’s YouTube, which collects about 45% of the ad revenues it sells for Machinima. No word here about the terms of the financing arrangement, although the companies say that current investors MK Capital, Redpoint Ventures, and Google Capital have also upped their stake. Machinima is said to have raised $67M, including $35M from Google. Here’s today’s official announcement:

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This article was printed from https://deadline.com/2014/03/warner-bros-leads-18m-financing-effort-for-machinima-696573/