ROW8 acquires Rad to power its premium movie streaming service with NFTs
LOS ANGELES , Dec. 21, 2022 /PRNewswire/ — ROW8, the Premium Movie Streaming service featuring the latest Hollywood films such as Black Adam with Dwayne “The Rock” Johnson, Ticket to Paradise with George Clooney and Bullet Train with Brad Pitt, has acquired the metaverse and web3 streaming platform Rad. ROW8 features premium video on demand films from all major studios on the platform, with all studio partners exploring NFTs in one way or another. Rad has been building immersive streaming technology and leveraging smart contracts for over 5 years, and has many of the same studio partners for VR and blockchain-based content. Together, the two companies will work with major studios and the best NFT projects for web3 and metaverse.
“Rad’s suite of web3 creator tools together with ROW8’s library of Hollywood movies will make our platform the premier destination for both digital collectibles and your favorite movies,” said Jasmina Christoph, founder and president of ROW8.
“ROW8 is easily the best-positioned company in the world to bring Hollywood into the future, with its patented technology, app footprint and deep relationships with the biggest studios in the world,” said Tony Mugavero, CEO of Rad. “They have the highest pipeline of content you can have in the entertainment industry, and Rad works with the same studios in web3 and XR, which means we can accelerate the use of forward-looking distribution from a place of trust.”
ROW8 has streaming deals in place with all major movie studios including Disney, Universal, Warner Brothers, Paramount Pictures, Sony Pictures Entertainment and it offers over 1,800 theatrical release movies. ROW8’s patented technology includes the ability to geo-locate viewers and share revenue with nearby theater chains, dynamic “Scene Alerts” to give viewers a peek to see if the next scene is scary or has adult themes, and their proprietary “Movie Love Guarantee” that allows viewers return a movie and exchange it for another if they didn’t like it.
Rad has streamed innovative content with all major studios and broadcasters globally by licensing content or powering experiences in VR and web3, and has streaming apps on PlayStation 4 and 5, Android TV, iOS and Meta Quest, building a global leadership position in VR. distribute content to devices such as PlayStation VR, HTC Vive and Windows Mixed Reality. Rad was the first streaming service to offer an NFT subscription and is launching its full NFT Stream Pass in December 2022. Rad has done NFT releases with companies like DKNY, Hacksmith, Cinedigm, and directly with creators like Elliot Sloan and platinum rapper Calboy. Rad also worked with ConsenSys to build its blockchain-based platform Ara with the ARA token, which will power ROW8’s NFT platform. In addition, Rad has a number of studio and well-known media investors such as Disney, Sony Innovation Fund, A+E Networks, WWE, Warner Music Group, Gary Vaynerchuk and more.
Tony Mugavero will become CEO of the combined companies, and Rad’s management team will all remain as part of the transaction.
“We couldn’t be more excited to join forces with ROW8,” said Brooklyn Earick, Chief Marketing Officer at Rad, who will continue as Chief Strategy Officer following the acquisition. “Combined, we will be the first platform to offer movies like Avatar and Top Gun alongside NFTs from Hollywood studios and web3 creatives.”
The combined companies have secured financing in a round led by Ayre Ventures.
Ayre Ventures founder Calvin Ayre celebrated the acquisition, calling it “the perfect marriage of content and delivery, the intersection of preparation and opportunity. ROW8’s vast library of marquee content will discover new ways to reach consumers through Rad’s BSV-based NFTs.” BSV is the only blockchain with the scaling capacity and ultra-low transaction fees to realize the promise that web3 holds for creators, distributors and consumers.”
Also participating in the round are Intersect VC, who are investors in Dapper Labs and Triller; former New England Patriot Super Bowl Champion and Pro Bowler Richard Seymour’s 93 Ventures; Alvin Kwan, former head of corporate development at Fox and board member of Fubo TV; Rusty Matveev, who is CSO at Calaxy and former partner at MSG Ventures; Revere VC; stacks; and Jason Campbell, former quarterback for the Washington Redskins and Oakland Raiders.
Following completion of the acquisition, Paul Rajchgod, Managing Director, Private Equity for Ayre Ventures, will be appointed to ROW8’s Board of Directors.
About Rad
Rad NFTV is the first streaming platform powered by NFTs. Rad’s suite of apps lets you 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 footprints create a streaming metaverse for the next generation of creators and fans.
The platform can deliver a wide range of NFT and content experiences, with 2D, 3D, 4K, Live, 360° / 180° VR and traditional video across devices such as 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 network technology, and the company’s Rad Pandas can be used to unlock lifetime subscriptions as well as earn additional ARA rewards.
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About ROW8
ROW8 is a subscription-free movie-only OTT service with both new and catalog titles and has distribution deals with all major Hollywood studios. It also has its proprietary “Movie Love Guarantee” that allows customers to return their movie within the first 30 minutes and exchange it for another one without additional fees, and the patent-pending “Scene Alert” monitoring system that alerts parents to inappropriate scenes before they air, and giving them control over what content their children see. Visit ROW8 at
www.row8.com
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