Machinima Names Chad Gutstein CEO

Chad Gutstein

UPDATED: The former COO of Ovation television network says he "jumped at the chance" to lead Machinima.

Machinima has named Chad Gutstein its new CEO.

Gutstein, the former COO of Ovation television network, replaces co-founder and chairman Allen DeBevoise in the role. DeBevoise will remain chairman of the YouTube multichannel network.

DeBevoise announced in November last year that the company would begin looking for his replacement. He co-founded Machinima in 2005 with brother Philip DeBevoise and had been CEO since 2007.

"Machinima is ready for the next level, and Chad has all of the unique qualities we were seeking in a new CEO to bring us there," says DeBevoise. "His fresh and respected outlook, deep knowledge of the TV and digital business, and proven track record will all benefit Machinima as we enter our next phase of growth. Chad's most recent experience building Ovation's brand and audience, and translating the value of its audience and programming to TV distributors and tier-one advertisers, will help Machinima exponentially accelerate its mission."

Prior to Ovation, Gutstein founded consultancy Entertainment Media Advisors. He was also senior vp at BuyTV and a principal at WaterView Advisors.

Gutstein tells THR that he "jumped at the chance" to take the helm of Machinima.

"We have 200 million people a month that are tuning in to watch our programming," he says. "The company essentially invented the MCN model and was the first to operate at scale."

Machinima recently raised $18 million in funding led by Warner Bros. The end of the CEO search and the funding come after several rounds of layoffs for the video game-focused firm, which says it generates more than 2 billion views per month.

"This company has an unbelievable base of business. We have an incredible audience," says Gutstein. "Have there been execution issues? Yeah. One of my big focuses and the team's big focus is making sure we have a culture that focuses on excellence and execution. We're going to get back up and do amazing things."