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Machinima, the gaming-focused YouTube network, has secured an $18 million round of funding from Warner Bros. Entertainment, Machinima announced today.
The news confirms a report from Recode last week. Warner Bros. is leading the funding round, with participation from Machinima's existing investors, MK Capital, Redpoint Ventures and Google Capital.
"We are thrilled to be partnering with Warner Bros., the leading producer of exactly the type of content that resonates with our global audience of video gamers and millennial males," said Allen DeBevoise, chairman and CEO of Machinima, in a press release today. "There are myriad opportunities to connect Warner Bros.' content to our audience across YouTube and our highly successful apps, and similarly to maximize the value of our content by utilizing Warner Bros.' expertise in global distribution beyond YouTube."
The funding round extends Machinima's existing relationship with Warner Bros., which produces the live-action web series Mortal Kombat: Legacy, two seasons of which have premiered exclusively on Machinima. Prior to this latest investment, Machinima closed a $35 million round of funding led by Google in May 2012. Last week, Machinima laid off 42 members of its sales division, a number that comprised 23 percent of the company's workforce.
