Series A Funding Round Raised by Youtube Film Firm Fullscreen
Fullscreen, a youtube-centered film company began a $30 million fundraiser.
Fullscreen is just one of hundreds of companies building their business on Youtube, as it runs over 10,000 channels already on the video website, brought out by Google just a year after it was started. The company has over 150 million subscribers and averages 2.5 billion individual views in a single month. It works with companies like NBCUniversal, Ryan Seacrest Productions and hip, new talent on Youtube to create popular channels like 5 Second Videos.
Fullscreen began itís funding not long after Youtube announced it would allow its partners to charge users for subscriptions to view their content, which could create even more revenue for MCNs. In fact, it become inevitable, since advertising at the beginning of Youtube videos has been less profitable than partners had hoped.
Jason Calacanis, a famous United States businessman and entrepreneur has brought criticismís to the Original Channels Initiative, the company that pays YouTube partners for making original content on the site. He says that YouTube keeping 45 percent of the revenue received from advertisements keeps channels a part of the initiative from being sustainable.
With the money it received from the fundraiser, which included donations from Comcast and WPP Digital, Fullscreen will be able to figure out what it needs to do to keep its business successful and relevant.
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