Chernin, Comcast and WPP back Fullscreen
June 19, 2013
Online video company Fullscreen – the premier global YouTube network for creators and brands – has closed a round of Series A funding. The round was led by The Chernin Group along with Comcast Ventures and WPP.
“Fullscreen’s mission is to empower a new generation of video creators to reach online audiences on a global scale,” said Fullscreen CEO and founder George Strompolos. “We’ve built scalable technology and an incredible roster of talent and brand partners since we were founded just over two years ago. This influx of capital will help us accelerate our goal of building a global media company, funding new content initiatives, continuing to invest into new technologies and furthering our rapid expansion into international markets.”
Fullscreen will use the investment to support the company’s domestic and international expansion across technology, audience development and sales. The company will also apply the capital towards financing new owned-and-operated content initiatives, as well as accelerating the development of its sophisticated SaaS technology to further empower video creators and brands to build and engage with desired audiences online.
“Fullscreen is a company that embraces both creators and technologists, and is influencing how people across the world watch video every day,” said Jesse Jacobs, President of The Chernin Group. “We first got involved with the company pre-launch two years ago and our conviction around the power of what Fullscreen is building has increased every day since.”
Since its inception, on a quarterly basis Fullscreen has seen an average increase in views of nearly 100 per cent, an increase in subscribers of 100 per cent and an increase in US ‘uniques’ of 90 per cent. In addition, Fullscreen is currently ranked as the number one independent YouTube partner network based on total unique viewers according to comScore (December 2012-present).
“As the video ecosystem evolves rapidly, Fullscreen is fusing technology and services to simplify operations and maximise opportunity for brand marketers and creators. The company has done an incredible job raising the profile of top talent and brands, bringing their content to the forefront,” said Sam Landman, principal at Comcast Ventures. “As a proof point, NBC Entertainment was the first network to use Fullscreen to manage and optimise their presence on YouTube and that successful implementation gave us confidence in their platform, company and team.”
Fullscreen’s client roster includes leading brands such as NBCUniversal and Ryan Seacrest Productions,and top talent such as dubstep violinist Lindsey Stirling and filmmaker Devin Super Tramp, bringing their content to the masses. Today, the Fullscreen network has over 10,000 channels, more than 150 million subscribers and over 2.5 billion monthly views. The company’s team has expanded accordingly, growing by 20 per cent in the last quarter and now employing 150 people in offices across the country.
“There has been explosive growth in online video, particularly on YouTube, and a growing demand from our clients to reach consumers on its platform as it revolutionises youth media consumption,” said Mark Read, CEO of WPP Digital. “Fullscreen’s model offers unique solutions for both brands and talent, and incredible opportunities for collaboration on both sides. Our partnership with Fullscreen will give our agencies and clients new expertise, insights, technology and access to help connect with consumers on the world’s largest video platform.”