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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Today’s announcement and other financial moves reportedly in the works for the gaming-oriented online service underscore how hard it is for channels to make money at YouTube. Machinima – which describes itself as “the number one global video entertainment network for young males” — says today that the layoffs, hitting 30% of the workforce, are part of its “restructuring in and around its sales organization” as it leans on its “longstanding partnership with YouTube to drive media sales.” But it also comes as it lines up $18M in funding from a group led by Warner Bros, website Re/code reports, citing “people familiar with the transaction.” Last week The Wall Street Journal reported that Warner Bros was mulling the possibility of investing as much as $15M in the online video operation. The numbers are a far cry from the amounts approaching $70M that Machinima was said to be hoping to secure last year. One of the problems for YouTube services like Machinima is that Google takes about 45% of the ad revenue it sells, as well as much of the inventory. Read More »
The global video network that runs YouTube‘s top entertainment channel said today it is eliminating 22 of its 206 employees. Machinima said it plans to make an increased commitment to programming and distribution and its YouTube network, and … Read More »
EXCLUSIVE: Paramount’s Insurge label is partnering with online network Machinima on Chop Shop, a new web series set in LA’s black market car theft underworld. The early 2014 release follows a pair of pro car thieves … Read More »
EXCLUSIVE: The move shows that Edelman Digital is stepping up its effort to introduce clients to gaming and YouTube videos. Rob Jones had been VP Gaming Programming at Machinima, one of YouTube’s most popular channels that … Read More »
EXCLUSIVE: Ridley Scott and his commercials production company RSA will team with Machinima to produce 12 short films that will focus on science fiction content that might be grown into feature franchises. Machinima is the top global video entertainment network for males aged 18-34, reaching more than 2.6 billion views monthly. It is the top-rated entertainment channel on YouTube.
Despite turning 75, Scott continues to have an appetite for cutting-edge stuff and emerging technologies. He won’t direct any of these short films but will be a hands-on executive producer with RSA president Jules Daly. With Machinima, they will select directing clients of RSA and figure out what stories to tell.
Machinima has provided a strong springboard for genre content on the web. The network distributed Mortal Kombat: Legacy, which revived the moribund Mortal Kombat franchise. It started with a short film and is now in its second season and led to a feature film in development. Halo 4: Forward Unto Dawn premiered last fall and the series has received more than 3.2 million views. Read More »