Warner Bros has led a $24m round of financing in the online gaming and content titan.

The other investors in the round were existing stakeholders Redpoint Ventures, MK Capital, Coffin Capital and Machinima co-founder Allen DeBevoise.

Warner Bros led an $18m funding round in March 2014 and continues to shy away from purchasing a YouTube network outright, as other Hollywood studios have done.

Machinima reportedly reaches 170m unique viewers and operates a YouTube channel that commands more than 430m subscribers.

CEO Kevin Tsujihara told attendees at the Code/Media conference in California on Thursday (February 19) that he and his team had still not found a model to make money from owning a network.

What appears to be in little doubt is the value Warner Bros top brass place on Machinima as a content delivery platform.

The companies partnered on the live-action web series Mortal Kombat: Legacy (pictured) and are preparing to release the animated series Justice League: Gods And Monsters Chronicles.

Topics