The picture is getting brighter for YouTube network Fullscreen.
The digital media company, which operates thousands of channels on Google’s video-sharing site, is getting an influx of cash to fuel its expansion.
The Chernin Group, headed by media veteran Peter Chernin, led the Series A round of funding that included big-media backers Comcast Ventures and WPP Digital.
Fullscreen helps brands and content creators increase viewership on YouTube. The Culver City, Calif.-based company has a whopping 150 million subscribers and 10,000 YouTube channels, accounting for about 2 percent of YouTube’s monthly views.
Although the deal amount wasn’t disclosed, AllThingsD reported in April that investors were working on a $30 million deal that would value the company at around $110 million.
While it been a struggle for most online content producers to make a profit and increase viewership, Fullscreen has done well at both. It helps that founder and CEO George Strompolos is a former employee of Google and the co-creator of YouTube’s Partner Program.
“We feel that the media company of the future ultimately won’t be built on a satellite in the sky, it’ll be built on software,” said Strompolos. “There’s so much we can do to empower this next generation of creators.”
Fullscreen has assisted with the YouTube presence of major brands, including NBCUniversal and Ryan Seacrest Productions.
abeasley@nypost.com