Maker Studios has raised $26 million in Series C financing, the company announced on Thursday, and will use the hefty sum to expand its international operations.
Maker operates one of the largest networks of YouTube channels in the world, one that boasts more than 60,000 channels and more than 4 billion views each month. The majority of its viewing audience resides outside the United States, but like most other YouTube networks, the company is still figuring out how to turn those eyeballs into profits.
Opening up offices overseas requires capital and establishing connections overseas can be daunting without a guide.
This latest round helps on both fronts. Maker already raised $36 million for the first part of its series C round and with part two pushes its total financing to $75 million.
Much of the remaining money from its two Series C rounds will fuel the construction of offices in new countries and partnerships in other territories. The company already has an office in London and a partnership in Brazil, and many of its new investors hail from Europe (Canal+) and Asia (SingTel Innov8, Astro).
Maker Studios CEO Ynon Kreiz declined to identify specific territories that Maker would target for expansion, but noted that many of its new investors provide it with “a strong entry point to key markets.” Kreiz has a great deal of experience working with international advertisers and media companies as the former CEO of reality television giant Endemol.
“This particular investment will help us to continue to invest in original programming, technology and also international expansion,” Kreiz told TheWrap.
As for how Maker would use the money overseas, he said it would be a “combination of working with local talent, being able to curate and develop shows for local audiences and also having the right relationships with local commercial partners.”