Strictly Business Podcast: Group Nine’s Ben Lerer on How Digital Publishers Deal with Facebook

It’s not easy for any digital publisher to make money in the age of the very powerful platforms that dictate the terms of the content business. Despite the challenges, Group Nine CEO Ben Lerer is sanguine about the future of the digital media eco…

It’s not easy for any digital publisher to make money in the age of the very powerful platforms that dictate the terms of the content business. Despite the challenges, Group Nine CEO Ben Lerer is sanguine about the future of the digital media ecosystem. In the latest episode of Variety‘s “Strictly Business” podcast, Lerer acknowledges […]

Enterprise Drives to Science Channel, Seeker to Talk Technology

TV viewers may know Enterprise best for its TV commercials featuring Joel McHale and Kristen Bell. Now the company hopes people will recognize it for short videos it has produced that address disaster relief and intriguing technology. To accomplish its…

TV viewers may know Enterprise best for its TV commercials featuring Joel McHale and Kristen Bell. Now the company hopes people will recognize it for short videos it has produced that address disaster relief and intriguing technology. To accomplish its goal, the transportation company is placing a three-part video series across venues operated by Discovery […]

Group Nine Media Hires Marketing Vet Christa Carone as President

Group Nine Media, the digital-media rollup play that includes Thrillist, NowThis, and The Dodo, has hired Christa Carone as president. At Group Nine, Carone will oversee the company’s sales and marketing teams as well as its data insights group. Formed about a year ago, Group Nine this week announced $40 million in new funding from existing […]

Group Nine Media, the digital-media rollup play that includes Thrillist, NowThis, and The Dodo, has hired Christa Carone as president. At Group Nine, Carone will oversee the company’s sales and marketing teams as well as its data insights group. Formed about a year ago, Group Nine this week announced $40 million in new funding from existing […]

Discovery Communications Leads $40 Million Raise for Group Nine Media

Discovery Communications gave Group Nine Media another vote of confidence on Tuesday, leading a $40 million raise that the company plans on using to boost its digital video content.

The cash infusion comes a year after Discovery put $100 million into the budding media company, which includes video news creator NowThis and food and travel site Thrillist in its arsenal.

“Group Nine has quickly become a Big Three digital-first media company and, with 5 billion monthly streams, an integral part of Discovery’s strategy to nourish audiences across all screens and services,” said Discovery President and CEO David Zaslav in a statement. “The company is completely on track, led by a terrific management team, with superfan brands, strong tech and data and a strategic growth plan. We are proud to make this additional investment to help Group Nine continue its momentum.”

Also Read: Daniel Day-Lewis Teases Plans After Retirement From Acting: ‘I’m Not Going to Stay Idle’

Discovery — parent company of Discovery Channel and Animal Planet — has been rocked by cord-cutting, with shares of its stock falling 40 percent in the last year. Group Nine gives Discovery a pipeline to a younger demo, posting short videos of its heralded “Shark Week” on Snapchat earlier this year.

Group Nine said in a statement accompanying the raise it has 120 million social engagements and 40 million unique visitors to its sites each month. CEO Ben Lerer added the $40 million investment will help the brand invest in “quality content and original IP” moving forward.

The company’s $600 million valuation remains the same. Axel Springer SE and Lerer Hippeau also participated in the raise.

Related stories from TheWrap:

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‘Pokemon Go’ Caused Up to $7.3 Billion in Traffic Accident Damages, New Study Says

Steven Spielberg’s ‘The Post’ Boasts Buzzy Early Reactions: ‘Exhilarating,’ ‘Fantastic,’ ‘Dynamite’

Discovery Communications gave Group Nine Media another vote of confidence on Tuesday, leading a $40 million raise that the company plans on using to boost its digital video content.

The cash infusion comes a year after Discovery put $100 million into the budding media company, which includes video news creator NowThis and food and travel site Thrillist in its arsenal.

“Group Nine has quickly become a Big Three digital-first media company and, with 5 billion monthly streams, an integral part of Discovery’s strategy to nourish audiences across all screens and services,” said Discovery President and CEO David Zaslav in a statement. “The company is completely on track, led by a terrific management team, with superfan brands, strong tech and data and a strategic growth plan. We are proud to make this additional investment to help Group Nine continue its momentum.”

Discovery — parent company of Discovery Channel and Animal Planet — has been rocked by cord-cutting, with shares of its stock falling 40 percent in the last year. Group Nine gives Discovery a pipeline to a younger demo, posting short videos of its heralded “Shark Week” on Snapchat earlier this year.

Group Nine said in a statement accompanying the raise it has 120 million social engagements and 40 million unique visitors to its sites each month. CEO Ben Lerer added the $40 million investment will help the brand invest in “quality content and original IP” moving forward.

The company’s $600 million valuation remains the same. Axel Springer SE and Lerer Hippeau also participated in the raise.

Related stories from TheWrap:

Jimmy Fallon Drops Some Hilarious Holiday Spirit With 'The Little Trumper Boys' (Video)

'Pokemon Go' Caused Up to $7.3 Billion in Traffic Accident Damages, New Study Says

Steven Spielberg's 'The Post' Boasts Buzzy Early Reactions: 'Exhilarating,' 'Fantastic,' 'Dynamite'

Group Nine Media Raises $40 Million From Discovery, Axel Springer, Lerer Hippeau

Group Nine Media announced that it has raised a $40 million follow-on round in new funding from Discovery Communications, German media conglomerate Axel Springer and venture-capital firm Lerer Hippeau Ventures. The company was formed last year with a $100 million investment from Discovery, combining three startups backed by Lerer Hippeau Ventures — Thrillist, NowThis Media […]

Group Nine Media announced that it has raised a $40 million follow-on round in new funding from Discovery Communications, German media conglomerate Axel Springer and venture-capital firm Lerer Hippeau Ventures. The company was formed last year with a $100 million investment from Discovery, combining three startups backed by Lerer Hippeau Ventures — Thrillist, NowThis Media […]

Group Nine Media Buys Jash, Digital Comedy Studio Whose Partners Include Sarah Silverman

Discovery Communications-based Group Nine Media has acquired Jash, the digital comedy studio founded by Sarah Silverman, Michael Cera, Tim Heidecker, Eric Wareheim, and Reggie Watts. Terms of the deal were not disclosed. New York-based Group Nine was formed last year with a $100 million investment from Discovery, combining three startups backed by Lerer Hippeau Ventures […]

Discovery Communications-based Group Nine Media has acquired Jash, the digital comedy studio founded by Sarah Silverman, Michael Cera, Tim Heidecker, Eric Wareheim, and Reggie Watts. Terms of the deal were not disclosed. New York-based Group Nine was formed last year with a $100 million investment from Discovery, combining three startups backed by Lerer Hippeau Ventures […]

Can Ben Lerer Turn Discovery-Backed Digital Roll-Up Into the Next Vice?

Shane Smith’s Vice Media has been the poster dude for how to build a next-generation media brand: amass a big digital audience — albeit with bumps in the road — and migrate the internet-incubated content and editorial style over to TV. A key ingredient in Vice’s growth has been millions in investment from Disney and A+E Networks. Now… Read more »

Shane Smith’s Vice Media has been the poster dude for how to build a next-generation media brand: amass a big digital audience — albeit with bumps in the road — and migrate the internet-incubated content and editorial style over to TV. A key ingredient in Vice’s growth has been millions in investment from Disney and A+E Networks. Now... Read more »