Turner leads $15M funding round for Mashable’s push into TV

By Jim O'Neill on Mar 31 2016 at 2:00 PM
Turner leads $15M funding round for Mashable’s push into TV

Digital publisher Mashable has gotten its second major infusion of capital in the past year, this time from Turner Broadcasting, which led a $15 million dollar round for the online news site as it continues pushing its efforts to expand its video offerings and break into TV.

Turner Warner Investments last year led a $17 million round for Mashable.

Turner and Mashable will work together on content for distribution through digital and more traditional linear channels, with Turner benefiting from Mashable's Velocity analytics approach.

Kevin Reilly, Turner's chief creative officer and president of the TBS and TNT networks, is joining Mashable's board.

The companies said the funding "will be used to further expand Mashable's video offerings across all platforms including linear TV, enhance its proprietary technology and data platforms, and bolster its premium advertising offerings, with a focus on growing the company's branded video division.”

“The most exciting thing right now is the future of TV,” said Pete Cashmore, Mashable’s CEO and founder. “Turner is the perfect partner to bring the best of tech and digital culture to TV in fresh ways. Tech is the current vehicle giving this generation a voice; it is the new cultural lynchpin on which all other creative pursuits rely. There is enormous opportunity for a brand that combines tech credibility with cultural influence.”

Reilly said Turner and Mashable will work together “to innovate beyond the traditional television universe,” adding that Mashable is “redefining digital storytelling,” something that makes the two  companies “ideal partners in today's rapidly evolving media ecosystem.”

Last year, Mashable launched Mashable Studios, a division which creates video programs for the website, social networks, television partners and other platforms.

Mashable has been accelerating its content development recently and earlier this month announced it would partner with Bravo Media to develop a slate of new digital series.

Bravo and Mashable plan to collaborate on four short-form originals set to roll out this year across each of their respective social and digital platforms, a first for Mashable.

Stay tuned.

Follow me on Twitter @JimONeillMedia and on LinkedIn


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