LOS ANGELES, CA / ACCESSWIRE / March 23, 2023 / Proxima, the media and entertainment company founded by Ryan Kavanaugh, has announced the acquisition of a significant stake in ROW8. This strategic investment marks an exciting new chapter for both Proxima and ROW8, as they join forces to expand their reach and enhance their offerings in the ever-evolving entertainment landscape. With Proxima's expertise in content creation and distribution, and ROW8's state-of-the-art technology platform, the partnership is poised to transform the way audiences experience cinema around the world.
Kavanaugh, one of the most prolific figures in Hollywood, has produced and/or financed over 200 feature films grossing over $20 billion at the box office, including "300," "The Fast and The Furious," "The Girl With The Dragon Tattoo," "Mama Mia!," "Limitless," "The Fighter," "Talladega Nights," "Stepbrothers," and many others. Kavanaugh also was responsible for over 20 television shows airing across 20 plus networks and was the first to convert feature film into television with "Catfish" and "Limitless." Kavanaugh, named the Billion Dollar Producer by Variety and Showman of the Year by Variety, was also the youngest billionaire on Forbes in 2014. Kavanaugh was the key architect of Marvel Studios in 2005, and was the first to do a deal with Netflix in 2010 lauded as the creation of the subscription video on demand (SVOD) window.
Kavanaugh's company Proxima Media most recently launched a sub-label in partnership with Life Boat Productions, ‘The Quad', and has just completed production on its highly anticipated slasher-thriller Skill House, starring social media influencer Bryce Hall and renowned rapper and actor 50 Cent. They have announced a robust slate of "influencer-driven movies," including the King Bach action-thriller Myles Ryder, Home School, Sway House and a number of other films. Kavanaugh also most recently was a credited producer on Hunter Killer, Strangers 2, and Den Of Thieves.
Kavanaugh has significant experience in genre films having led the acquisition of Rogue from Universal in 2010 which made and distributed over 60 horror/genre films including Strangers, The Unborn, Wes Craven's My Soul to take and many others such as the Lazurus Effect with Blumhouse.
Ryan Kavanaugh, Founder and CEO of Proxima, expressed his enthusiasm for the partnership, stating, "ROW8's innovative technology and forward-thinking approach to event cinema distribution make them an ideal partner for Proxima. We are thrilled to be joining forces with such a dynamic and ambitious company, and we look forward to working together to bring even more exciting cinematic experiences to audiences around the globe."
For ROW8, the investment represents a significant opportunity to accelerate the growth and expand their footprint in the market. "We are excited to partner with Proxima and tap into their expertise in content creation and distribution," said Tony Mugavero, CEO of ROW8. "Together, we are building the future of Hollywood and content, and we look forward to working closely with Ryan and Proxima to achieve our shared vision."
"This partnership between ROW8 and Proxima marks an exciting step forward for both companies, as we seek to leverage the power of social media and data-driven insights to create a more engaging and personalized experience for our audiences. By working together, we hope to build a stronger relationship with our customers, while also driving usage, traffic, and transactions in Web3 with no middleman" remarked Jasmina Christoph, Founder & President at ROW8.
Kavanaugh also notes that this partnership will allow Proxima to reduce marketing costs while maximizing revenues on highly commercial genre-specific films.
Kavanaugh, the co-founder of Triller, has built deep relationships with most of the top 100-plus influencers. Kavanaugh most recently, through a partnership with Snoop Dogg, launched Fight Club where he envisioned, produced, and created the most successful digital PPV event in history, Tyson v. Jones, and brought Jake Paul from a YouTube blogger to a household sports name in boxing, and shortly thereafter conceptualizing and producing the highly successful Paul V Askren event.
ROW8, the largest independent digital Premium Video On Demand (PVOD) movie platform, has agreements with virtually every major studio including Universal, Warner Brothers, Disney, Fox, Lionsgate, MGM, Paramount and others and has quickly become a leader in the industry with its Movie Love Guarantee and patented technology. They offer their customers access to a vast library of high-quality movies available to stream instantly on their favorite devices. ROW8 recently merged with Rad, the innovative blockchain-based streaming platform, with a presence on most major streaming devices, VR headsets, and gaming consoles such as PlayStation.
With the new stake, Proxima and ROW8 are building a first-of-its-kind partnership and channel, dubbed ‘Proxima 8,' with the goal of providing a home for highly commercial and cost effective horror, thriller, action, love stories, and American comedies. The partnership aims to target a youth-focused genre play, where they can provide the combined billions of followers their influencer stars command with one home. "It is the first platform built by today's generation for today's generation where the audience and followers are involved from the day a movie starts until well after it is being viewed. It is the future of social movies" stated Kavanaugh.
Proxima 8 will offer interactive movie experiences, from participating in the creative, access to content, all the way to walk-on parts and joining premieres to allowing viewers to interact with stars and directors. It will have everything to allow today's generation to create their own unique cinematic experience.
As social media platforms like Triller, Instagram, TikTok, Snap, and YouTube continue to gain popularity, they provide a powerful marketing tool for films. Influencers can promote their movies to their followers, building buzz in advance of their releases.
About Proxima Media and Ryan Kavanaugh
Founder of Proxima Media, the controlling shareholder of Triller, Ryan Kavanaugh, is one of the most accomplished, prolific, and honored executives in entertainment industry history. Using an intelligent model of film finance, he was dubbed the creator of "Moneyball for movies." He produced, distributed, and/or structured financing for more than 200 films, generating more than $20 billion in worldwide box office revenue and earning 60 Oscar nominations. He is the 25th highest-grossing film producer of all time. He was involved in movies such as Fast and Furious 2-6, 300, Social Network, Limitless, Fighter, Talladega Nights, Step Brothers, and Mama Mia! Kavanaugh and Proxima pioneered an innovative finance deal for post-bankruptcy Marvel, making the studio and finance structure that led to Marvel Cinematic Universe. He built the SVOD (streaming) category with Netflix, which boosted that company's market capitalization from $2 to $10 billion. Kavanaugh is the co-founder of Triller, one of the three fastest-growing social media apps. He recently led the acquisition, merger, and re-launch of the social media and music app.
He also created the powerhouse television company, now known as Critical Content, producing hit shows like Catfish on MTV and Limitless on CBS, which he sold for $200M. The company had 40 television series across 19 networks before its sale. Kavanaugh has earned several achievements and awards, from Variety's Producer of the Year Award to The Hollywood Reporter's Leadership Award, from Fortune's 40 Under 40 Most Influential People in Business to Forbes' Fortune 400, Billion-Dollar Producer by the Daily Variety and the 100 Most Influential People in the World by Vanity Fair. Proxima and Kavanaugh are repped by Neil Sacker.
About ROW8
ROW8 is a subscription-free movie only OTT service featuring both new and catalog titles and has distribution deals with all major Hollywood studios. It also features its proprietary "Movie Love Guarantee" allowing customers to return their film within the first 30 minutes and exchange it for another without any additional fees, and its patent pending "Scene Alert" monitoring system which alerts parents to inappropriate scenes before they air, giving them control over what content their children see. Visit ROW8 at
About Rad
Rad NFTV is the first streaming platform powered by NFTs. Rad's suite of apps allows you to stream Live TV, Premium Video, and Live Events all unlocked through NFTs. Discover content in ESports, Music, Comedy, and Sports Entertainment from companies like Complex, Whistle, CoinDesk, DeadHeads, Knights of Degen, and Virtue Animation Studio. Rad NFTV's library of fast and loud content, NFTs, crypto rewards, and OTT footprint creates a streaming metaverse for the next generation of creators and fans.
The platform can deliver a broad range of NFT and content experiences, with 2D, 3D, 4K, Live, 360° / 180° VR, and traditional video across devices like PlayStation 5, PSVR, Oculus Quest, iOS, Google TV, and more. Viewers can earn ARA rewards and become peers in the network powered by Ara's blockchain and P2P networking technology, and the company's Stream Pass NFT can be used to unlock lifetime subscriptions as well as get additional ARA rewards.
https://rad.live || https://ara.one
Contact:
Proxima Media
SOURCE: Proxima Media
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