Adaptive Studios, a pioneering entertainment studio founded by Perrin Chiles, TJ Barrack and Marc Joubert, announced today that AMC Networks Inc. (NASDAQ: AMCX), the company behind several of the most recognizable networks in entertainment including AMC, BBC America, WE tv, SundanceTV, IFC, and IFC Films, has made a minority investment in Adaptive Studios along with Atwater Capital, raising a total of $16.5 million in the studio’s Series B funding.
These new investments will allow the studio to continue its rapid development of high-quality content for distribution across traditional and digital platforms. Adaptive has seen success in various mediums with series like HBO’s “Project Greenlight,” film “Coin Heist” on Netflix and digital series that have debuted at Sundance, Tribeca and SXSW film festivals.
Perrin Chiles, CEO of Adaptive, adds, “AMC Networks and Atwater Capital have been incredibly strategic and forward thinking about investments in this ever-changing media landscape. With our growing library of diverse IP, we could not ask for better investors to help expand our business and secure new partnerships.”
“AMC Networks views this investment as a key component as we expand our expertise beyond premium long-form scripted television into developing and producing short-form and other types of content for all platforms,” said Ed Carroll, AMC Networks Chief Operating Officer.
“Adaptive Studios is a truly unique content creator, generating narrative-centered IP across both traditional and digital distribution channels. We are excited to partner with the management team to continue Adaptive’s tradition of driving innovation in the sector,” said Vania Schlogel, Managing Partner of Atwater Capital.
Adaptive Studios completed its Series A funding in December 2013; its roster of private investors includes Thomas J. Barrack Jr., executive chairman of Colony Northstar; Joe Steinberg, co-founder of Leucadia National; Roger McNamee, founding partner of Elevation Partners; and Todd Wagner, co-owner of 2929 Entertainment, Magnolia Pictures, and Landmark Theaters; all remain inventors in the company.
About Adaptive Studios
Adaptive Studios is an Emmy-winning entertainment studio taking a story-first approach to creating premium content for emerging and traditional platforms. The company acquires undervalued intellectual property from the Hollywood system in addition to incubating fresh ideas from a community of passionate, emerging filmmakers. Adaptive reimagines how film, television, books and digital projects are developed, produced and distributed.
Adaptive’s partners include high profile collaborators and distributors including AMC Networks, HBO, Netflix, Verizon, Miramax, FX Networks, YouTube Red, Fox Animation, 21 Laps, Lionsgate, blackpills and many more. Visit adaptivestudios.com for more information.
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