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Otter Media has made its bet on the future of film.
The joint venture between The Chernin Group and AT&T has invested an undisclosed amount in Supergravity Pictures, a production company that is bringing films starring social media influencers directly to fans. Otter joins existing angel investors including former Viacom executive Van Toffler and entrepreneur Larry Braitman.
“The demand from digital platforms and brands for high-quality video content is rapidly increasing,” said TCG president Jesse Jacobs. “We want to invest in and support innovative companies that focus on this massive opportunity, particularly those that use digital platforms and social media to more efficiently market and distribute their content. Supergravity, as a direct-to-consumer film studio, is a prime example of a company with these attributes, and we are excited to be partnering with them.”
Supergravity was founded last year to produce, market and distribute VOD films. The company’s first project was buddy comedy Man Up starring Justin Chon and Kevin Wu, which is now available on Vimeo On Demand and Netflix. Supergravity will hold its first film premiere for thriller The Chosen on Friday, July 24 in Anaheim, California.
“This investment gives us the capital to execute our vision of building a movie studio that produces, markets and sells high-quality films directly to the passionate audiences that desire them,” said Supergravity co-founder Max Benator. Added co-founder Marc Hustvedt: “Otter Media sees the future a lot like we do. Entertainment is rapidly changing in everything from distribution to consumption, and even affects the kinds of stories that can get made.”
The Chernin Group and AT&T teamed up to form Otter Media to invest in, acquire and launch over-the-top services. Last year, the company acquired a majority stake in YouTube network Fullscreen.
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