LONDON — Video distribution outfit Rightster is targeting growth through acquisition and platform investment using some of the money it earned by becoming the first YouTube multi-channel network (MCN) to go public last month.
The UK-based company raised £20.4 million ($36.7 million) by floating on London’s AIM market and has already started pumping that market with positive growth developments. Last week, it announced it had signed a deal to power live-streaming of the Australian Football League (AFL) for four years, and to add celebrity news agency Splash News and acclaimed content marketers RedBull Media House to its roster.
“We’re looking at some acquisitions,” CEO Charlie Muirhead tells Beet.TV. “We’re in discussion with a number of potential targets already.”
Muirhead says loss-making but fast-growing Rightster raised the money to continue financing its distribution platform, grow in to new countries, add specific expertise and accelerate monetization.