Propagate secures Raine investment

Propagate Content, the US production company founded by Ben Silverman and Howard T Owens with backing from A+E Networks, has secured investment from global merchant bank The Raine Group.

Ben Silverman

Propagate says the undisclosed amount will be used to accelerate its growth globally through new ventures and acquisitions.

Plans include expansion of its worldwide production, distribution and digital businesses, including the formation of a branded content studio division and podcast network.

The company is also eyeing launches in Latin America, Asia, India and the Middle East, setting up units that partner with local prodcos to develop, produce and distribute original formats and target potential acquisitions.

Following recent partnerships with actress Gwyneth Paltrow and Grammy winner Zac Brown’s Southern Ground to produce content based on their respective lifestyle brands, Propagate is also eyeing further opportunities with A-list talent.

Propagate was founded in 2015 by Reveille founders Silverman and Owens, reuniting the pair after their respective stints at Electus and National Geographic.

Howard T Owens

It has 17 series in production, including Apple’s first original Planet of the Apps, starring Jessica Alba, Paltrow, Gary Vaynerchuk and will.i.am. It also has its first straight-to-series scripted order, Blood & Treasure for CBS.

Raine co-founder Joe Ravitch and Erik Hodge, who heads the firm’s entertainment practice, will join the Propagate board.

In the past, Raine has invested in companies including Vice Media, Imagine Entertainment, Matt Stone and Trey Parker’s Important Studios, fantasy sports operator Draft Kings and action sports company Nitro Circus.

Silverman and Owens said in a statement today: “Over the past few years we have seen massive shifts in the media industry that have changed the way production companies have traditionally done business.

“The world of media and technology continues to evolve rapidly, and we want to have the capital and partners in place to help us grow even faster, allowing us to continue to deliver premium content to audiences around the world. Nancy Dubuc and the team at A+E Networks have been fantastic partners, and Joe Ravitch and the team at Raine bring incredible experience and access.”