LOS ANGELES – Indie studio Propagate Content has secured a significant financial investment from global merchant bank, The Raine Group. The investment will be used by Propagate to accelerate the company’s growth globally through the launch of innovative new ventures and targeted acquisitions, further cementing its reputation as a transformational content studio.
Propagate is helmed by Chairman & Co-CEO, Ben Silverman and Founding Partner & Co-CEO, Howard T. Owens. The company and its executives have a 25-year market leadership position in international content development, global distribution, and production having run networks, studios, talent agencies and independent production and distribution companies. Founded in 2015, Propagate has quickly become a major indie studio with 17 series in production and 40 projects in development at over 21 networks and streaming services, including Apple’s first series, “Planet of the Apps,” starring Jessica Alba, Gwyneth Paltrow, Gary Vaynerchuk and will.i.am.
The Raine Group is well known for its partnerships with creator-driven media and entertainment companies which help drive growth objectives. Past Raine investments include Vice Media, Imagine Entertainment, Matt Stone and Trey Parker’s Important Studios, fantasy sports operator Draft Kings, and action sports company Nitro Circus.
The Raine investment will allow Propagate to expand its worldwide production, distribution and digital businesses, including the formation of a branded content studio division and podcast network. Propagate’s ambitions for the coming year include growing its global footprint with the launch of business units in Latin America, Asia, India and the Middle East. Through these units, the company will partner with local production communities to develop, produce and distribute original formats as well as target potential acquisitions.