Digital Media Investment Firm, Dimensional Associates, Purchases Controlling Interest and Recapitalizes MetaMedia for Next Phase of Network and Content Expansion
LOS ANGELES, July 25, 2023 — MetaMedia today announced a significant strategic investment from Dimensional Associates, which will drive the next phase of MetaMedia’s mission to provide cinemas, movie studios and other content producers with a global, cloud-based entertainment network that delivers cost-savings, operational efficiencies, access to expanded content and additional revenue opportunities.
Dimensional Associates is the private equity arm of JDS Capital and is an owner/operator of companies at the crossroads of media and technology. Its principals bring significant expertise in content distribution over the internet. This capital infusion enables MetaMedia to complete the rollout of its network to its cinema partners who collectively represent more than a quarter of U.S. and Canadian cinemas, including Cinemark Theatres, Cinépolis, Marcus Theatres, B&B Theatres, Emagine Entertainment, Landmark Cinemas, CGV Cinemas, Fridley Theatres, Premiere Cinemas, Southern Theatres, TCL Chinese Theatre, CW Theaters and members of the Independent Cinema Alliance. Currently, MetaMedia’s network delivers premium films, live events, and advertising to 400 cinemas reaching more than 5,000 screens in most major cities throughout the U.S. and Canada. Dimensional Associates’ investment will enable the MetaMedia network to expand to 2,000 additional cinemas across the U.S. and Canada, and, ultimately, reach cinemas internationally.
Danny Stein, the CEO of Dimensional Associates, has joined MetaMedia in the role of executive chairman. Stein brings a wealth of experience in digital distribution, having represented Dimensional as The Orchard’s lead shareholder and executive chairman from 2003-2014 before the company was purchased by Sony Music Entertainment. The Orchard also had a film and television distribution business, and a global commercial distribution platform for indie film and TV content creators. In 2015-2016, Stein was senior vice president of growth investments at MacAndrews and Forbes, the holding company that previously owned and operated Deluxe Entertainment Group, a wholly-owned subsidiary in which Stein served as president of Deluxe New Media overseeing global corporate development, strategy and innovation.
MetaMedia’s platform creates a managed, last-mile broadband connection for cinemas that reduces delivery times and removes hundreds of millions in expenses for cinema owners and studios. The platform provides material and measurable environmental benefits over the traditional methods of delivery, while providing best-in-class intellectual property protection. MetaMedia’s platform is even more cost-effective for smaller, targeted film releases or platform releases from independent or international film studios. In 2022, MetaMedia delivered more than 350 films to cinemas across its network, allowing content producers and cinemas to save millions of dollars.
“We are at a watershed moment in cinema, where broadband and the cloud have been proven to benefit cinemas and premium content producers by expanding box office opportunities and providing massive operational and cost-savings, much in the same way these technologies have been used by Netflix, Disney and other streamers of content into homes,” said MetaMedia Founder and CEO Jason Brenek. “I am pleased that Dimensional will help fulfill MetaMedia’s vision and that Danny joins MetaMedia as executive chairman to augment MetaMedia’s existing leadership team, who will stay with the company and who collectively have more experience than anyone in internet delivery of premium live and pre-recorded content to entertainment venues in North America.”
MetaMedia has also enabled new and varied marketing and revenue-generating opportunities for its studio and cinema partners by enabling expanded programming choices, new cinematic content formats and enhanced release targeting. In addition to delivering feature films, the MetaMedia network exclusively delivered to cinemas the 2023 NCAA College Football Playoff and National Championship games from ESPN, numerous Esports tournaments from Activision/Blizzard, concerts from BTS, Coldplay, Garth Brooks, Metallica and others, and produced live fan events, including Q&A sessions with celebrities and content creators to help promote upcoming content releases.
About MetaMedia:
MetaMedia is the first global cloud-based entertainment platform that delivers movies, premium content and live events to cinemas and other venues around the world. MetaMedia’s global cloud-based platform provides for the secure, rapid, targeted and cost-effective delivery of big-screen premium entertainment to cinemas, drive-ins, arenas, and other commercial venues. MetaMedia is headquartered in Los Angeles. For more information, please visit www.metamedia.global.
Media Contact: Charles Chamberlayne
(202) 302-7612
SOURCE MetaMedia
