Break.com, a video website based in Beverly Hills, Calif. has raised a substantial amount of money. Since the company’s inception in 1998, it has been self-funded and constantly serving videos for the general Internet public.
The website receives roughly 17 million unique visitors per month and may possibly have some of its video uploaders hired for production deals.
The amount of funding received is $21 million and was invested by Lionsgate Entertainment Corporation for a 42% stake in Break.com. Lionsgate is known for producing films such as The Descent, horror movie Hostel: Part II, and Academy Award winner CRASH.
“We see this as a good opportunity,” stated Lionsgate spokesman Peter Wilkes. “It’s a smart, savvy site that’s targeted to a young male demographic with which we’re very familiar.”
Lions Gate’s library includes 11,000 motion pictures and TV episodes. And Lionsgate will be utilizing Break.com’s technology in getting some of this content online.
“Break is one of the freshest and most original platforms for content in the new media space,” added Lionsgate’s CEO and Co-Chairman Jon Feltheimer. “They immediately appealed to us as an ideal fit. They serve a large niche that we know well, and they are another entrepreneurial partner whose culture, business plan, and creative sensibilities blend seamlessly with our own.”
According to Hitwise Media, Break.com ranks at 11th place for males as it is seeing 17 million unique visitors, 550 million page views, and 300 million streamed videos per month. Break.com also currently has partnerships with NBC, Endemol, and Twisted Pictures.
