Top independent YouTube network Fullscreen has closed its latest round of funding, the company announced today.
Comcast Ventures, Chernin Group and WPP Digital are investing in the network, which boasts more than 15,000 creators under their brand, including Devin Supertramp, Megan Nicole and Tyler Ward. While the exact estimate of funding is unclear, the Los Angeles Times reported it to be around the “eight-figure range.”
Fullscreen Founder and CEO George Strompolos said to the Los Angeles Times: “We think there’s tremendous opportunity in the digital media space to build a truly next-generation global media business. We raised this round for the purposes of really trying to go after that opportunity.”
He hopes to use the investment money to fund expansion projects outside North America, including opening offices in Brazil, India, Japan, Mexico and Russia.
Strompolos explained to Billboard why Fullscreen is expanding its operations abroad: “Half of our creators are based outside the U.S. To grow, we need to have a footprint in those countries.”
The company is growing substantially and now boasts high-profile entertainment companies such as Ryan Seacrest Productions as its partners. In April, Fullscreen announced that they were working with Seacrest’s company to produce some web series for the network.
Besides high-profile collaborations with Seacrest, Fullscreen has hired several prominent executives this year to oversee the company’s expansion, such as Brendan Gahan as vice-president of brand strategy, Larry Shapiro as head of talent and Tim Mohn as senior vice-president of engineering.
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