Hot on the heels of a new round of layoffs, YouTube entertainment channel Machinima has managed to secure new funding to the tune of $18 million in a funding round led by Warner Bros.
In its announcement concerning the investment Warner Bros. CEO and chairman Allen DeBevoise said that his company has invested in Machinima because there "are myriad opportunities to connect Warner Bros.' content to our audience across YouTube and our highly successful apps, and similarly to maximize the value of our content by utilizing Warner Bros.' expertise in global distribution beyond YouTube."
The funding round also included MK Capital, Redpoint Ventures, and Google Capital — all existing investors. In the last round of funding the company secured rakes in $35 million in May of 2012.
Warner Bros. chief digital officer and EVP of strategy and business development Thomas Gewecke called the company a "pioneer and category leader" in the YouTube space and that Warner Bros. has been "impressed with Machinima as a distribution partner" so far.
Machinima produces a variety of shows that it distributes on YouTube; along with publisher and developer-provided trailers for upcoming games. According to Machinima, its videos are viewed over 2 billion times a month.
In recent months the company has laid off a large percentage of its staff. Hopefully this new funding will keep it from doing that for awhile.