Thu, 15/11/2012 - 12:24
Base79, a European online video company, has received an equity investment from The Chernin Group (TCG), alongside continued participation from existing investor MMC Ventures.
Proceeds from the round will be used to accelerate Base79’s expansion across Europe and into other global territories, to build owned-and-operated brands and channels, and to invest in the company’s products and technology.
Founded in 2007, the company has offices in London, New York and Sydney, and has plans to increase its presence in continental Europe within the next 12 months.
Base79 partners with video rights holders and producers to build online audiences and brands, claim and protect their intellectual property, sell premium advertising, and generate new revenue streams on YouTube and other OTT platforms.
Base79 generates more than 550 million views per month across nearly 550 channels on YouTube, and is the largest YouTube multi-channel network based in the UK.
“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,” says Ashley MacKenzie, founder and chief executive 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,” says Peter Chernin, founder and chief executive 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 capitalise on further opportunities for growth.”
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