×
You will be redirected back to your article in seconds

Jeffrey Katzenberg-Led WndrCo Invests $11.5 Million in U.K. Audio Streamer Mixcloud

Mixcloud announced that it closed $11.5 million from WndrCo, the next-generation media investment company whose founders include longtime Hollywood player Jeffrey Katzenberg.

It’s the first outside fundraise for the U.K.-based long-form audio streaming company, whose tagline is “making radio better.” Mixcloud said it will use the capital to expand the company globally — including in the U.S. — and diversify the platform, which may potentially include subscription-based offerings.

With the funding, two WndrCo partners will join Mixcloud’s board: Ann Daly, former president of DreamWorks Animation (which was headed by Katzenberg), and Anthony Saleh, manager of hip-hop stars Nas and Future.

Last fall, Mixcloud entered into a direct licensing agreement with Warner Music Group and Mixcloud is said to be in talks with Sony and Universal Music Group as well. For its audio programming, Mixcloud has used statutory radio licenses to cover its music use.

Founded in 2008 and based in London, Mixcloud says it has more than 1 million audio creators. Mixcloud was founded in London in 2008 by Nico Perez, Nikhil Shah, Mat Clayton, and Sam Cooke. The company offers a lineup of serialized, long-form and exclusive audio shows, produced by DJs including David Guetta and Tiësto; musicians like Talking Heads frontman David Byrne; indie radio stations like London’s NTS; and The Guardian Podcasts.

Mixcloud co-founder Shah said that WndrCo is “the ideal partner” for the company. “They are highly accomplished, and they are true operators with experience at some of the world’s leading media, entertainment and tech companies,” he said in announcing the funding.

WndrCo last year raised $591.5 million, and in January tapped Silicon Valley veteran Meg Whitman as CEO of the venture, which is aiming to build out a portfolio of premium, short-form entertainment content investments optimized for mobile consumption. WndrCo’s other investments to date have included equity stakes in TYT Networks, Axios, and Whistle Sports.

Mixcloud’s proprietary content-identification system can identify individual tracks within radio shows and mixes. That, according to the company, ensures “proper payment to the underlying rights holders.”

More Digital

  • THE UMBRELLA ACADEMY

    'The Umbrella Academy' Superheroes Series Premiere Date Set on Netflix

    The dysfunctional-family superheroes of “The Umbrella Academy” are landing on Netflix worldwide on Feb. 15, 2019. The live-action series is based on the “Umbrella Academy” comic books created and written by Gerard Way and illustrated by Gabriel Bá, published by Dark Horse Comics. The Netflix original series comprises 10 one-hour episodes. “The Umbrella Academy” stars [...]

  • ATF: Hooq Adds Trio of Original

    ATF: Hooq Adds Trio of Original Series, Partnership With Vice Media

    Asian video-on-demand service, Hooq has unveiled three Indonesian-made original series, and a partnership with online content group Vice. The new shows range from a talk show “TL;DR” that will be co-produced with Vice, to a full-length series, “Check Out The Store Next Door” (“Cek Toko Sebelah the Series”) and a short form series. The partnership [...]

  • ATF: Indian Streamer Eros Now Launches

    ATF: Indian Streamer Eros Now Launches 'Flesh' as Original Series

    Eros Now, the video streaming arm of Indian film production and distribution giant Eros International, has begun production of an original web TV series. Its human trafficking drama “Flesh” will air in early 2019. “Flesh” stars Swara Bhaskar (“Raanjhanaa,” “Veera Di Wedding”) as a belligerent female cop who takes matters into her own hands in [...]

  • Avengers End Game Trailer

    'Avengers: Endgame' Trailer Smashes 24-Hour Video Views Record

    With the Marvel fandom’s anticipation leading up to “Avengers: Endgame,” it’s no surprise that the trailer drop set a new record for most views in its first 24 hours. The “Avengers: Endgame” trailer was viewed 289 million times in its first 24 hours, after it was released around 5 a.m. PT Friday, according to Marvel [...]

  • Fandor Logo

    Fandor Lays Off Staff, Sells Assets of Indie-Film Streaming Service (EXCLUSIVE)

    Fandor, the independent-film streaming service, has laid off nearly all of its employees and has sold its assets, Variety has learned. Reached for comment, Fandor CEO/chairman Chris Kelly sent a statement in which he said Fandor has a deal in place that will let a “new entity” continue to operate the service. He declined to [...]

  • ESL And Oculus Partner For VR

    ESL And Oculus Partner For VR Charity Challenge Game Show

    Esports company ESL is teaming up with Oculus for the Change the Game VR Charity Challenge (VRCC), it announced on Friday. Two teams of influencers will compete for a $100,000 prize during the event. Each will represent one of two gaming charities — Stack Up or Take This. Stack Up is a nonprofit that works [...]

More From Our Brands

Access exclusive content