Back in October Ryan Kavanaugh’s Proxima Media bought a majority investment in Triller, worth $28 million. The artists’ equity investments announced on Thursday also involve a strategic partnership with Triller, which also has licensing partnerships with the majority of the top studios, including Warner Music Group, Sony Music Entertainment, and Universal Music Group. Because there are no ad placements in Triller, the app’s revenue is driven by brand partnerships. Total amount raised across all funding rounds, Total number of current team members an organization has on Crunchbase, Total number of investment firms and individual investors, Descriptive keyword for an Organization (e.g. Video-sharing platform Triller, which is owned by Century City-based Proxima Media, has acquired Halogen Networks. LOS ANGELES, Oct. 23, 2019 /PRNewswire/ -- Triller, the AI-powered music video platform, today announced a new round of funding, led by Proxima Media, … “We are truly putting the music business back together, and artists recognize the importance of Triller to the future of the industry.”, Also Read: Ryan Kavanaugh's Proxima Media Invests $28 Million in TikTok Rival Triller (Exclusive).
Seed, Series A, Private Equity), Whether an Organization is for profit or non-profit, General contact email for the organization. Proxima Media acquired Triller and U.K.-based music video platform MashTraxx in September and combined the two platforms, according to Kavanaugh. “We are incredibly fortunate to work with some of the largest artists on the planet, and today’s announcement about our increasing portfolio of partnerships and collaborations with top labels and artists marks perhaps the most significant shift in music since the creation of streaming,” Triller CEO Mike Lu said. “We don’t think we compete with TikTok. The Triller app, which is considered by some to be a rival to TikTok, allows users to create lip-synching music videos with its in-app editing tools. Triller General Information Description. Triller relies solely on organic growth and has more than 23 million downloads, with celebrities from Kevin Hart to Vanessa Hudgens regularly using the app to create their own music videos. That could put it on track to surpass TikTok domestically; the Chinese company reports 26.5 million monthly active users in the U.S. Triller is an American social media company based in Los Angeles. Developer of a social video sharing platform designed to create engaging media content. We actually look at a world where we coexist,” Kavanaugh said. An insider also told TheWrap WWE talent have been instructed to promote the event -- but not its location -- for two weeks now. Triller raised a $4.5M seed round in May 2016 and a $5M Series A funding round in February 2018, with plans to expand its AI technology and develop the brand as a talent discovery platform. Vox declined to comment. WWE, which is due to return to Saudi Arabia on Nov. 2 for its "Crown Jewel" wrestling event, told TheWrap in statement that it’s "currently monitoring the situation." He said Triller will announce a new brand partnership in the near future. '” Triller vice president of content and strategy Lauren Braun Diamont said. We are proud to have the most functionality in this category and will be announcing even more increased feature sets regularly,” he added.
You are viewing your complimentary article.Subscribe to get unlimited access. The company declined to comment about whether it will reassess the investment. Terms of the deal, which was announced on July 14, were not disclosed. In April, National Geographic announced it was partnering with the General Entertainment Authority of Saudi Arabia to develop and launch several locations for its walk-through virtual-reality zoo. Pick a song, select the portion of the song you want to use, snap a few takes and with the tap of a button you have a celebrity-quality music video starring you and your friends. Death of dissident journalist Jamal Khashoggi threatens kingdom’s modernization plans, Last Updated: December 20, 2019 @ 5:05 PM, Ryan Kavanaugh's Proxima Media Invests $28 Million in TikTok Rival Triller (Exclusive), 26.5 million monthly active users in the U.S, Trump #MAGAChallenge at TikTok Rival Triller Sparks Resignations, Protests (Exclusive), TikTok Under National Security Review From U.S. Government, TikTok Pulls Ban on Teen Who Called Out Chinese Government’s Mistreatment of Muslims. Triller said it will use Halogen’s technology to deliver livestreamed events. Reps for the company did not respond to a request for comment from TheWrap. Triller says it has the highest engagement of any music social platform in terms of daily time spent on the app, reporting that users spend an average of 20 minutes per day and creators spend over one hour. At the time Proxima also brought in a number of strategic investors, including Silicon Valley veteran, Mahi de Silva, who assumed the role of chairman at Triller. The performing arts, social media, and festival and events management company signed a letter of intent to bring large-scale festivals to the kingdom. Triller said it has more than 80 million downloads, with celebrities such as Cardi B and Marshmello using the app to create their own music videos. “As we recently became the most downloaded app in India and one of the largest in the U.S., this acquisition is key in allowing our global users to go live. Triller raised a $4.5M seed round in May 2016 and a $5M Series A funding round in February 2018, with plans to expand its AI technology and develop the brand as a talent discovery platform. Notable music industry executives such as Shawn Gee (President of Live Nation Urban), Anthony “Top Dawg” Tiffith (Chief Executive Officer of TDE), Abe Burns (President of Maverick Digital), James Prince (CEO of Rap-a-Lot Records), and Believe Digital, among others, have also invested in Triller. Here is a list of Hollywood and media deals with Saudi Arabia -- and where they stand now. British entrepreneur Richard Branson announced he would step down as chairman of Virgin Hyperloop, a planned supersonic transport system in the United Arab Emirates and other countries, CNBC reported. “I couldn’t be more pleased about the new home for Halogen on the Triller platform,” said Steve Miller, founder and chief executive of Halogen Networks. View Company. Triller stock price, funding rounds, valuation and financials.
Leading D.C. lobbying firm representing the Saudi government’s interests, the Harbour Group, announced on Oct. 11 it was terminating its $80,000-a-month contract with the kingdom. Triller, a music-focused social video platform rivaling TikTok, has secured strategic investments from major music industry figures amounting to more than $10 million. Back in October Ryan Kavanaugh’s Proxima Media bought a majority investment in Triller, worth $28 million.