Former YouTube exec unveils Next 10 Ventures, a $50M fund to back online creators – TechCrunch

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Subsequent 10 Ventures is a brand new agency that’s raised $50 million to spend money on new digital content material, and in addition in new instruments and companies for the creators of that content material.

The agency was based by Benjamin Grubbs, beforehand world director of prime creator partnerships at YouTube, who additionally serves as Subsequent 10’s CEO. He’s joined by COO Paul Condolora, who was previously co-head of the Harry Potter franchise at Warner Bros., and who was additionally in control of digital and shopper merchandise at Cartoon Community and Grownup Swim.

Grubbs informed me the agency’s title refers to supporting the subsequent 10 years of a creator’s profession, and that it emerges from conversations he’d been having with profitable on-line creators.

“They ask, ‘How do I take this to the subsequent degree?’” Grubbs mentioned. “‘I actually take pleasure in what I’m doing, how do I construct a profession out of this?’”

He added that he’s seeking to work with a “diversified mixture of creators” — they don’t essentially have to have an enormous following already, however they need to have demonstrated that they will produce compelling movies and they need to be “actually making an attempt to make a long-term profession on this area.”

It seems like Subsequent 10’s investments can be structured in various other ways. In some circumstances they’ll seem like a standard seed-stage startup funding. In others, the agency will fund its personal services. And in nonetheless others, will probably be funding content material and partnering with creators.

The agency says it’s targeted on three broad areas: video content material and IP creation, e-commerce and community-based services. And there can be a fund targeted particularly on creators of instructional content material.

Actually, Grubbs mentioned one of many massive alternatives is bringing extra instructional content material to Asia. He mentioned that because the younger individuals in international locations like Indonesia and the Philippines transfer on-line, “schooling content material is missing on the availability facet.”

“What we need to do is not only look ahead to this market to develop up and graduate, however truly … be an lively participant,” he mentioned. “The mission of the corporate is basically to complement and encourage and entertain — and sort of in that order.”



Supply hyperlink – https://techcrunch.com/2018/05/16/next-10-ventures/

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