The digital video bubble isn’t bursting just yet: Vice Media has raised a new funding round of $450m that values the company at $5.7bn.

The latest round comes from a single source, private-equity investor TPG, which you may remember also dived in to Spotify’s $1bn of convertible-debt financing last year.

Vice Media, which now runs its own TV channel and licenses shows to other broadcasters, as well as its various online-video activities, has now raised more than $1.4bn since 2011, with its investors including 21st Century Fox, A+E Networks and Disney from the media industry, as well as TCV and WPP Ventures from the investment world.

What will Vice be doing with its latest $450m aside from staving off the need to turn a profit for a while longer?

“The youth media company will use the investment to build a global scripted studio, as well as develop new over-the-top streaming video and direct-to-consumer offerings,” claimed The Hollywood Reporter.

“Vice will use the funding to launch Vice Studios, which will be dedicated to producing scripted programming for digital and linear distribution.”

EarPods and phone

Tools: platforms to help you reach new audiences

Tools: Kaiber

In the year or so since its launch, AI startup Kaiber has been making waves,…

Read all Tools >>

Music Ally's Head of Insight

Leave a comment

Your email address will not be published. Required fields are marked *