Machinima Closes $24 Million Financing Led by Warner Bros.

The two companies’ joint ventures include the upcoming animated series “Justice League: Gods and Monsters Chronicles”

Last Updated: February 19, 2015 @ 5:58 PM

Machinima has entered into a $24 million financing led by Warner Bros. Entertainment with existing investors Redpoint Ventures, MK Capital, Coffin Capital and Allen DeBevoise also participating, the company announced Thursday.

Machinima, the first global Many2Many programming service focused on fandom and gamer culture, recently rebranded in November to focus on its talent network and original programming capabilities. The changes included a new tagline — “Heroes Rise” — plus a new logo, network ID and website.

“In 2014, Machinima regained our leadership position in the global digital video marketplace by focusing on our Talent Network and transforming our brand into one that is reflective of our content, our audience and our community of creators,” said Machinima CEO Chad Gutstein in a statement. “This additional funding will enable Machinima to accelerate our growth through increased investments in content and technology that better serves our audiences, advertisers, creators and distributors.”

WB’s participation in the funding continues the relationship between the two companies, which has resulted in successful live-action web series including two seasons of “Mortal Kombat: Legacy.” Later this year, Machinima will release “Justice League: Gods and Monsters Chronicles,” an animated limited series from DC Comics and Blue Ribbon Content.

With more than 30 million monthly unique viewers, Machinima currently ranks ninth in total US audience for online video entertainment properties and fourth for US males 18-49.