Viacom, looking to build in-roads with the next generation of digital stars, has taken a minority stake in DigiTour Media, a startup that produces live events featuring big-name talent from Vine, YouTube and other social media.
Terms of the transaction were not disclosed. A source familiar with the funding said DigiTour raised about $10 million in the latest round, with additional investors participating including LionTree and Slow Ventures.
Previous DigiTour investors include producer-entrepreneur-host Ryan Seacrest; Advance Publications, parent of Condé Nast Publications; talent manager Guy Oseary; Machinima co-founder Allen DeDebovoise; and Ben Silverman, founder and CEO of Electus.
“Partnering with a premiere entertainment company like Viacom and its powerhouse brands is something I have always envisioned for DigiTour,” Meridith Valiando Rojas, co-founder and CEO of DigiTour, said in a prepared statement. “We believe that this pairing will lead to opportunities to combine our authentic connection to Generation Z with Viacom’s unparalleled television, film, digital and international resources in order to help accelerate and scale our media brand globally.”
DigiTour’s “in real life” events — aimed at tween and teen fans — include concerts and festivals across the U.S. and internationally. Past performers at its tours and fests have included Fifth Harmony, Hayes Grier, Nash Grier, Jack & Jack, Demi Lovato, Trevor Moran, O2L and Andrea Russett.
In connection with the funding, Viacom will get a seat on DigiTour’s board, alongside DigiTour founders Meridith Valiando Rojas and Chris Rojas, Ryan Seacrest and Andrew Siegel of AV Partners, the investment arm of Advance Publications.
L.A.-based DigiTour disclosed that it raised $1.675 million in a Sept. 15 SEC filing, but that financing is unrelated to the latest Viacom-led round.
The company was founded in 2010 by Valiando Rojas, a former music A&R executive at Columbia Records, and music producer Chris Rojas; the couple married in 2014.