US-based media company Time Warner’s corporate venturing unit has been joined in its $36m Series C round into Maker Studios, an independent network of YouTube, after the previously publicised round was announced last week.
It has emerged Maker is also backed by Robert Downey Jr ‘s investment company, Downey Ventures;, British television executive Elisabeth Murdoch, M+C, the investment company of former News Corp. digital chief Jon Miller and Jimmy Yaffe , as well as Ynon Kreiz, Maker’s chairman, and Avatar producer Jon Landau.
Return backers venture capital firms Greycroft Partners and GRP Partners were also involved.
Rachel Lam, who heads Time Warner Investments group, will join Maker’s board. Lam said: “In just a few short years, Maker has established itself as the go-to network on YouTube for top creative talent, and the combination of outstanding creative with formidable audience reach has translated into Maker’s phenomenal growth as a company. Our investment in Maker gives us insight into next generation video content and the ever evolving online video landscape, as well as access to new producers of content for Time Warner’s existing television, film and cable network operations. We are thrilled to be working with the Maker team.”
Maker Studios offers its partners a full range of vertically integrated services including development, production, promotion, distribution, sales and marketing.
Danny Zappin, Maker Studios co-founder and chief executive, said: “We are extremely excited and grateful to have the support of Time Warner and other investment partners who are some of the most respected names in media and entertainment”.
Since being founded in 2009 Maker has now raised a total of $78.5m in venture funding. Investors value the company at more than $200m.
In August, Time Warner acquired digital sports content site Bleacher Report for $175m.