Atmosphere (www.atmosphere.tv),
an ambient TV entertainment platform known for its network of content
channels (including CHIVE TV), today announced it has closed a $10
million Series A financing round. The investment is led by Austin-based
S3 Ventures with participation from Capstar Capital. The funding will go
toward ramping up B2B distribution, technology, data and monetization.
The investment accelerates a new paradigm in entertainment dubbed
‘ambient TV’— with audio-optional content catered specifically to brick
and mortar businesses that want to entertain and captivate their patrons
or for consumers who want to enjoy background TV at home. In addition to
the content, the platform allows venues to run promotions on their TVs
that drive customer engagement and behavior. The company’s flagship
channel, CHIVE
TV, is currently streaming in over 4,300 restaurants, bars, gyms and
other venues. The network has grown by an annual rate of 170% since the
start of 2017 and is currently adding approximately 450 new venues per
month. Atmosphere’s viewership is currently over 31,000 people in an
average minute and is rated #1 in overall dwell time for millennials
versus its place-based video peers, according to Nielsen.
“As a society, people are migrating to urban areas and are growing
increasingly mobile, with 70% of our waking hours now being spent
outside the home,” said Leo Resig, Co-founder and CEO of
Atmosphere. “There are screens everywhere with sub-par content. We are
helping business establishments take control of their screens with
content that’s superior to current programming options that are designed
for in-home viewing with audio—leading to improved customer experience,
increased visitors and dwell-time.”
While there is heated competition between media powerhouses for in-home
OTT viewership across apps and vMVPD ‘skinny bundles’, no one has
addressed TV programming that is created specifically for out-of-home
viewing. Atmosphere provides the only OTT multi-channel platform that is
designed and licensed for businesses.
Atmosphere monetizes through SaaS fees and advertisements. “Atmosphere
blends the best of traditional TV and digital advertising. No other
advertising medium can deliver an engaged audience, mass reach, precise
targetability and industry-leading ROIs on big screen TVs,” said
Atmosphere Co-founder and President John Resig. “Our positive and
family-friendly programming appeals to everyone. We are captivating
audiences and getting people to lift their heads from their phones and
engage with the content.”
“I have yet to meet someone who enjoys watching closed-captioning or
talking heads at their favorite establishments, said S3 Ventures Partner Charlie
Plauche, who will be joining the board as part of the financing.
“Yet, that is the best option most businesses have to entertain patrons.
That all changes with Atmosphere, who offers engaging content to viewers
of all ages with no audio needed. It is a transformative media platform
and advertisers are quickly figuring that out.”
About Atmosphere
Atmosphere is a first-of-its-kind OTT streaming platform for businesses
and consumers, offering original, owned and operated ambient TV
channels. The platform has been built from the ground up with
proprietary content, technology and data to deliver unparalleled
experiences for businesses, consumers and advertisers. The platform also
provides a digital signage feature for businesses to run their house
promotions within the content. The business was incubated under Chive
Media Group and spun out in 2019. For more information, visit www.atmosphere.tv.
About Chive Media Group
Chive Media Group is a multiplatform digital media and eCommerce
company. The company’s flagship brand, theCHIVE,
is home to the world’s funniest photo galleries and viral videos,
reaching more than 30 million people each month and amasses over 8
billion content views annually. The company’s eCommerce site, The
Chivery, is a content-driven commerce site that has sold over 5
million t-shirts and apparel items since its launch in 2011. The
company’s 501(c)3 Chive Charities has raised over $15M through
flash-donation campaigns for orphaned causes. Visit www.chivemediagroup.com
for more information.
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