UK-based youth broadcaster and YouTube channel SBTV has received a minority investment from private equity firm Miroma Ventures in a deal that values the business at 8 million British pounds. SBTV’s YouTube channel, which currently reaches more than 360,000 subscribers, primarily features interviews and music content.
With the investment, the plan is to expand the scope of the business to include additional content beyond urban culture, which is what SBTV primarily deals in at this point. According to SBTV founder Jamal Edwards, he would like to launch YouTube channels centered around fashion, comedy, sports, business, game, and tech content.
Although Edwards is casting a wide net in terms of expansion, since launching the channel in 2006, SBTV has grown to become a leading name in UK urban culture with millions of views. After starting SBTV at 16 years old, Edwards has brought on a small staff of six, which makes the channel’s rapid growth all the more impressive.
In addition to SBTV’s plans for vertical expansion, the channel is also looking to hire more staff, including a managing director. Marc Boyan, founder of Miroma Ventures, said that mobile integration and development of e-commerce are also on the channel’s recently-funded to-do list. Boyan has expressed a desire to dive into live events and merchandising opportunities as well.