MyVideoRights Gains Funding, Changes Name to Base79
New funding and a new name will help drive the company's international growth.
Online video professionals know MyVideoRights as a London- and New York City-based digital rights management and monetization company. Now they'll have to get used to calling it Base79, as the company has rebranded.
The move comes as MyVideoRights/Base79 gains £2.75 million in funding from MMC Ventures, the company's main investor. Existing angel investors and the company's board also participated in the funding round.
Base79 will use the money to expand internationally in both the United States and Europe. It also plans to develop new products and improve its ability to stream content to multiple device and platforms.
As for the rebranding, the company only said that it "reflects the company's vision to be the leading creators of content driven value online."
Base79 manages content for the Football Association, Mr. Bean, and Ministry of Sound. It licenses digital content to sites and services such as YouTube, Hulu, and Netflix. Its network of content currently gains over 375 million views each month.
"We're excited at the opportunities presented by an ever more connected world and there is no doubt in my mind that smart TVs will revolutionize the TV value chain within five years, allowing our video content to eventually reach a huge and engaged audience of billions, seamlessly. Our rebrand to Base79 is an exciting step in our evolution as a company with the vision to be the world's leading creators and generators of content value online," says Ashley MacKenzie, founder & CEO of Base79
After great success in the U.K., MyVideoRights is working to manage usage of major content libraries in the U.S., with clients including the Reda Archives