MyVideoRights rebrands to Base79
MyVideoRights has secured a funding injection of £2.75 million and is today rebranding as Base79.
The digital rights management and monetisation company has secured £2.75 million funding led by its principal investor MMC Ventures. The board and its existing angel investors have also participated in the funding round.
The company manages content for companies and artists including the Football Association, Mr Bean and Ministry of Sound, licensing content to online publishers including YouTube, Hulu and Netflix. Base79 currently manages a network of content that generates over 375 million views per month.
The funding will be used to accelerate both the company’s international expansion across the US and Europe as well as significant product development initiatives to distribute premium quality content across multiple platforms and devices.
The rebrand and funding announcement comes as the company posted growth in revenues of 805% over the last two years, placing it as the second fastest growing media company in Europe according to the GP Bullhound 2011 Media Momentum List.
Ashley MacKenzie, founder & CEO of Base79, said: “Our offer is playing very well. We’re excited at the opportunities presented by an ever more connected world and there is no doubt in my mind that smart TV’s will revolutionise the TV value chain within five years, allowing our video content to eventually reach a huge and engaged audience of billions, seamlessly.”