Mashable receives $15 million investment led by Turner
Turner, parent company to networks including TNT and TBS, has spearheaded a $15m investment into digital publisher Mashable.
The partnership will give Turner the opportunity to distribute some of its programming to Mashable’s large digital audience. According to Mashable, its site has 45 million monthly unique visitors and it has 28 million followers on social media.
It will also allow Turner to leverage Mashable’s Velocity graph, which uses predictive analytics to determine which posts will perform best.
For Mashable, the partnership will allow it to expand its video content to more platforms, including TV. The funding will also be used to grow Mashable’s branded video division.
Both Turner and Mashable will collaborate on advertising efforts as well, specifically ones that provide marketers with cross-platform capabilities.
Of the partnership, Mashable’s CEO and founder Pete Cashmore said: "The most exciting thing right now is the future of TV. Turner, home to the top rated cable networks, is the perfect partner to bring the best of tech and digital culture to TV in fresh ways.”
Kevin Reilly, chief creative officer for Turner Entertainment and president of TBS and TNT, added that the partnership will “increase the cultural relevance of Turner and Mashable content.”
“Just as we are redefining these networks and continue to innovate beyond the traditional television universe, Mashable is redefining digital storytelling, making us ideal partners in today's rapidly evolving media ecosystem,” he said.
Reilly will now join Mashable’s board of directors.