New media investors are now setting their sights on… YouTube channels?
Indeed: this is part of a growing trend that includes companies like DreamWorks and Comcast. The latest entrant is AMC Networks , which has teamed up with other investors to put $4 million into DanceOn, a dance focused YouTube channel.
DanceOn serves as a home base for a network of dance-related YouTube channels and also creates original web series, including Dance Showdown and The Edge.
According to Variety, other investors include the producer of “So You Think You Can Dance,” Madonna’s manager, and the CMO of Roku, among others. The DanceOn Youtube channel also received funding from YouTube itself in 2011 and earlier this year.
Now, DanceOn now plans to use the funding to grow beyond the confines of YouTube. “To the extent we are generating premium content, we want to be on all devices,” said CEO Amanda Taylor said.
So, is a YouTube channel worth millions?