YouTube partner channel Machinima is planning to launch a subscription video service and is in talks with Hollywood studios about providing full-length content and possibly investing in the project, according to US reports.
According to Reuters, citing unnamed sources, Machinima is looking to raise US$80 million (€60 million) to launch a subscription video-on-demand service targeted at its audience of 18-34 males interested in video gaming and comics.
According to the report, Machinima is in talks with Warner Bros and Viacom-owned Paramount Studios, both of which already produce short-form content for the site.
Machinima has not confirmed how much investment cash it is seeking. However CEO Allen DeBevoise told Reuters that the company wanted to raise capital to become an over-the-top version of HBO or AMC. He said he wanted to license TV-length shows over which Machinima would retain full control and would be able to market both in the US and abroad.
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12 May 2021 @ 19:00:01 UTC