Base 79 multimillion investment
July 8, 2013
Base79, the largest YouTube network in the EMEA region, has announced a strategic equity investment from Evolution Media Capital’s (EMC) principal investing arm, Evolution Media Growth Partners (EMGP), a joint venture with global private investment firm TPG. EMC is the affiliate bank of Creative Artists Agency (CAA), the world’s leading entertainment and sport agency.
The multi-million dollar investment follows The Chernin Group’s investment in November 2012. Over the past three years, Base79 has grown at a rate of over 100 per cent year-on-year. Proceeds from this investment will be used to accelerate Base79’s expansion across Europe where offices have opened in Paris, Madrid, and Berlin in 2013, complementing the existing London, Sydney and Los Angeles.
Additionally, funds will be used to invest in further technology, fast-track the creation of Base79 owned-and-operated brands and channels and continue the company’s European expansion. Base79 is YouTube’s largest original programming partner. It works 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.
Commenting on the investment, EMC Co-Managing Director Rick Hess: “We are excited to invest in what we consider to be one of the world’s leaders in online video. Base79 is a true multi-channel network and has the capabilities and demonstrable pedigree in helping sports and entertainment talent diversify commercial offerings online. It’s a fast-growth company and we’re looking forward to helping it accelerate that growth in 2013 and beyond.”