MIL OSI – Source: Axel Springer in English – Press Release/Statement
Headline: Axel Springer continues to invest in the US digital offering Group Nine Media
Axel Springer, together with the other investors Discovery Communications Inc. and Lerer Hippeau, participated in a USD 40 million follow-on round in funding of Group Nine Media. Additional funds will among others be used for expanding the video content across existing platforms. Group Nine Media is a purely digital offering for the target group of 18- to 34-year-old users. The company was created in 2016 by merging the platforms The Dodo, NowThis, Thrillist and Seeker of Discovery Communications Inc., Axel Springer and Lerer Hippeau. The US group is a leading digital media company and has increased its monthly video views in one year market presence from 3.5 to over 5 billion. The platforms of Group Nine Media reach daily 40 million people in the US and have 120 million social engagements each month.
“Group Nine had ambitious plans and is exceeding expectations on every front. They have strong brands and the management team has achieved significant revenue and audience growth quarter after quarter. With this follow-on financing, we want to accelerate the further growth of Group Nine Media”, says Dr. Jens Müffelmann, President Axel Springer USA and CEO Axel Springer Digital Ventures.
“We founded Group Nine with the strongly held belief that the media industry was at the beginning of a massive and definitive shift to digital video. We are convinced that quality content will be key for our further success. With this financing, our partners give us the opportunity to boost our brands and to grow faster,” said Ben Lerer, CEO of Group Nine Media.
Group Nine Media is a joined company of Discovery Communications Inc., Axel Springer und Lerer Hippeau which includes the platforms The Dodo, NowThis, Thrillist und Seeker. These have over 5 billion monthly video views (source: Crowd platform specific analytics modules), reach daily 40 million people in the US (source: Nielsen) and see over 120 million social engagements each month (source: ListenFirst Media). Viewers consume over 2.5 billion minutes of video monthly on the platforms of Group Nine (source: Crowdtangle + platform specific analytics). The brands of Group Nine Media reach 81 percent of 18- to 34-year-old users in the US (source: Nielsen). Group Nine recently acquired Emmy nominated, Cannes Lion and Sundance Film Festival award-winning production studio, JASH.