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Base79 Announces New Investment from The Chernin Group
LONDON --(Business Wire)--
Base79, one of Europe's leading online video companies and the largest
YouTube (News - Alert) network in the Europe, Middle East and Asia (EMEA) region, today
announced that it has received a strategic 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 leading 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. The Company's proprietary technology
and processes for increasing YouTube channel subscribers and views, and
establishing ad sales leadership, enables its clients to significantly
increase their reach and revenues in online video. With more than 300
premium content partners, including BBC Worldwide, Endemol's Tiger
Aspect (News - Alert), IMG Media, Simon Cowell's SyCo, Ministry of Sound, Guinness
World Records as well as a number of leading YouTube content creators,
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. Base79 recently received four original programming
grants from YouTube, more than any other company in Europe.
"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," said Ashley MacKenzie, founder and CEO
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," said Peter Chernin, founder & CEO of TCG.
"Base79 is one of Europe's fastest-growig young media companies, and we
look forward to partnering with the Company and its management team to
help build on its vision and capitalize on further opportunities for
growth."
Alex Carloss, YouTube's Global Head of Entertainment, said: "We view The
Chernin Group's investment in a key partner like Base79 as a sign of the
growth of the YouTube ecosystem in Europe. Base79's deep expertise in
rights management and the YouTube platform will continue�to help
partners control and grow their content businesses on YouTube."
Bruce Macfarlane, Managing Partner, MMC Ventures, said: "MMC Ventures
has always believed in Base79 - its concept, technology, and team - and
have been excited to invest from an early stage. We are therefore
delighted to be continuing our support for Base79, alongside The Chernin
Group, and look forward to its further growth and success."
In October 2012, after securing four new channel partnerships as a part
of YouTube's new original channels initiative, Base79 announced that it
had become Europe's largest YouTube original programming partner. The
four new channels resulting from the partnership are:
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/Football
With leading sports media company IMG as a key content
producer, Slash Football is a premium video football network centered
and driven by football fans. Base79 will create a series of programs
that focus on and appeal to football fans, providing real, reactive
and opinionated views and discussions.
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/Flow
Flow is a celebration of movement sports, in particular
parkour. It brings together compelling new content from the world's
best urban movement athletes, powered by Base79's parkour hub of more
than 60 athletes and free-running content creators. Flow is a brand
and platform to inspire and encourage young people to be active and
adventurous.
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Guinness World Records: OMG!, from Base79 and Guinness World Records
"Guinness
World Records: OMG!" is a new YouTube channel highlighting YouTube
stars who challenge and encounter record-breaking people and places.
The channel features 100% new and original material from the legendary
arbiter of all things record-setting and record-breaking.
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Bad Teeth, from Base79 and Hat Trick Productions
Bringing
sketches, animation, and celebrity guest-hosted pranks together for a
thoroughly entertaining experience, Bad Teeth blends the funniest and
most popular YouTube stars with mainstream celebrities from the Hat
Trick stable to create unexpected, water-cooler content people will
want to share.
About Base79
Base79 is one of Europe's leading online video companies and the largest
YouTube network in the Europe, Middle East and Asia (EMEA) region. The
Company has more than 300 content partners and generates more than 550
million video views monthly across over 550 channels. Base79 has a
unique rights management technology that optimizes audience reach and
revenue generation for its content partners. Founded in 2007, the
Company has offices in London, New York and Sydney, and has plans to
expand into continental Europe within the next 12 months.
About The Chernin Group
The Chernin Group LLC (TCG) is a privately held, independent media
holding company based in Los Angeles, CA (News - Alert) founded by Peter Chernin. TCG
has built, managed, operated, and invested in businesses in the media,
entertainment, and technology sectors around the world since 2010. TCG's
assets include Chernin Entertainment, which produces feature films and
television programs; a majority stake in Hong Kong-based CA Media, which
builds, manages, and operates media, entertainment, and technology
businesses across Asia; and several strategic investments in technology
and media companies in the United States. Providence Equity Partners (News - Alert)
LLC, Qatar Holding LLC, and other shareholders are strategic partners of
and investors in TCG.
About MMC Ventures
Founded in 2000, MMC Ventures is an active investor and award-winning
venture fund manager, focused on technology-enabled�sectors where the UK
is a world leader -�particularly�financial and�business services,
business software,�digital media�and�e-commerce. Having raised a total
of approx �100 million, MMC invests around �10 million per annum,�in a
combination of new investments and add-on capital for existing portfolio
companies. MMC specialises in fast-growth early-stage UK-based
businesses, partnering with entrepreneurs and impressive management
teams to achieve substantial scale and profitability. MMC's existing
portfolio includes�Alex and Alexa, Base79, Interactive Investor,
Knowledge Mill, LoveHomeSwap and Reevoo. www.mmcventures.com
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