MUMBAI: Alloy Digital, a next generation media company for the 12-34 demographic and a top-10 video network, has announced a $30 million Series A investment from ABS Capital Partners, a leading investor in later-stage growth companies. They join existing investors, including Zelnick Media.
ABS Capital general partner Deric Emry has joined the company‘s board as a result of the transaction.
Emry said, "Alloy Digital made an extremely attractive investment opportunity. It is at the forefront of the shift in content consumption to digital media. This trend is fundamentally changing the way that entertainment is created, distributed and monetized by delivering interactive entertainment directly to consumers at scale and more economically.
"Alloy Digital is perfectly positioned as major brands increasingly direct advertising dollars online, following a coveted demographic that has embraced multi-platform, digital media entertainment consumption. While online video viewing is increasing dramatically, there still remains an imbalance between time spent online and dollars spent by blue-chip advertisers, implying a significant opportunity for future growth as multi-platform media formats are expected to grow at a much greater rate than television."
The financing follows an acquisition spree by Alloy Digital that, since July 2011, has led its owned-and-operated channels to the top of YouTube in total subscribers with over 12 million.
Alloy Digital CEO Matt Diamond commented, "This funding will allow us to rapidly accelerate future growth by adding complementary, relevant properties and talent appealing to the tastes and shifting consumption behaviors of P12-34 digital consumers. In just one year, we have built a solid foundation through the acquisition of best-in-class properties that have solidified Alloy Digital as the top digital media and advertising network for this demographic and propelled our owned properties to be among the most watched on YouTube."
The company will also look to bolster user experience by expanding resources for product development and technology advancements, while also continuing to provide advertisers innovative digital branding opportunities that keep up with P12-34 consumer expectations.
