MetaMedia announced Thursday an 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.
Currently, MetaMedia’s network delivers films, live events, and advertising to 400 cinemas reaching more than 5,000 screens in most major cities throughout the U.S. and Canada. In 2022, MetaMedia delivered more than 350 films to cinemas across its network.
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.
Dimensional Associates is the private equity arm of JDS Capital. Danny Stein, CEO of Dimensional Associates, has joined MetaMedia in the role of executive chairman.
“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 Founder and CEO Jason Brenek said in a press release.
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, and Metallica; and produced live fan events, including Q&A sessions with celebrities and content creators to help promote upcoming content releases.
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 Cinema of Canada, CGV Cinemas, Fridley Theatres, Premiere Cinemas, Southern Theatres, TCL Chinese Theatre, and members of the Independent Cinema Alliance.