Cash for Machinima
Warner Bros is leading an investment round pumping $24 million into gamer video outfit Machinima. Warner and Machinima are already allies having created live-action web video series Mortal Kombat Legacy, with video series Justice League: Gods and Monsters Chronicles, slated for release later this year.
The company certainly has powerful metrics with 430 million global subscribers, 170 million monthly unique viewers and 3.7 billion monthly video views (up 70% year-on-year). Machinima says it will use the cash infusion to up investment in content and technology, without specifying where the improvements will be.
“With its enormous fan base, Machinima is an important exhibition partner, providing content creators, including Warner Bros, multiple platforms for distributing and monetising digital content and programming brands,” says Craig Hunegs, president of business and strategy at WBTG.
But for all those bright-sounding numbers, Machinima has had problems monetising its services. Last year, it laid of 30% of its staff as part of a restructuring process, and the company announced 13 redundancies just after getting the $24 million.