MRC II Distribution Company, L.P.,[2]doing business asMRC (formerly Media Rights Capital), is an American film and television studio founded by Modi Wiczyk and Asif Satchu in 2004. Based in West Hollywood, California, MRC develops, finances, and produces film and television in partnership with the industry's leading creative artists.[3]
The original business plan, called Another New Ballgame, was written in 1999[4] as part of a class assignment while the two attended Harvard Business School.[5] The plan quickly gained notoriety throughout Hollywood and was deemed controversial for predicting the decline of the traditional "Hollywood system" alongside the emergence of a new order driven by internet-based distribution and independent studios fueled by talent agencies.
MRC is famous for many firsts in Hollywood. It was the first studio to establish a deeply-integrated partnership with major talent agency, Endeavor Talent Agency, which would become a model for future alliances between agencies and studios.[6] Their deals for Alejandro González Iñárritu's Babel and Sacha Baron Cohen's Brüno,[5] the follow-up to Borat, were early examples of artists owning copyrights, selling films for significantly more than their cost, and having true control over production and marketing.[7]
The company was an early innovator in the creator economy. It produced Seth MacFarlane's Cavalcade of Cartoon Comedy (2008) for YouTube, the platform's earliest Hollywood-backed scripted series.[8] The show became Youtube's second-most-subscribed-to sponsor channel during its run and was notable for being the first show distributed exclusively online through Google's AdSense network, syndicating content across thousands of partner sites.[9] The success of Cavalcade positioned MRC as one of the first studios to merge storytelling with tech-driven distribution.
MRC's Television division developed, produced, and financed House of Cards (2013), the first original series ordered directly by Netflix, launching the streaming era of prestige television.[10] The series was the first streaming-exclusive drama to receive Emmy nominations and introduced the "binge" model of releasing all episode simultaneously.[11]
Since then, MRC has developed a reputation for financing and producing critically acclaimed films and series while maintaining a philosophy centered on supporting artists and filmmakers.[12] The company's continued success[13] has been attributed to its ability to challenge traditional Hollywood conventions,[5] to embrace emerging technologies and business models, and to maintain close partnerships[14] with creative visionaries.[15]
To date, MRC's productions have been nominated for 120 Emmy Awards, 38 Golden Globe Awards, 17 Academy Awards, and 5 GRAMMY Awards. Its films have grossed over $6 billion worldwide at the box office.[3]
History
Early history
MRC was founded by Modi Wiczyk and Asif Satchu in 2006,[17] and its early investors included Guggenheim Partners, AT&T, WPP Group, Goldman Sachs and ABRY Partners.[18][19] The company was established as a financer-producer, packaging film projects for sale to film studios, and holding ownership stakes in the production.[20][21]
In 2008, The CW leased its Sunday-night schedule to MRC beginning in the 2008–09 television season. MRC scheduled the reality show In Harm's Way and the dramas Valentine and Easy Money.[25] In November 2008, after all four shows drew poor viewership, The CW announced that it would withdraw from the agreement.[26] The network returned the Sunday timeslots to its affiliates in the 2009–10 season.[27]
In March 2010, it was reported that MRC had made an offer to acquire Focus Features from Universal Pictures, but that the deal had fallen through.[28] In April of that year, MRC sold the upcoming Seth MacFarlane film Ted to Universal.[29] Later in December, MRC would reach a distribution agreement with Universal, under which it would provide distribution and marketing services for up to 20 MRC films over the next five years. The agreement would give the option for Universal to invest in the films, but was not a first-look deal, and also gave MRC the option to pre-sell distribution rights in specific territories.[30][21]
On February 1, 2018, Eldridge Industries, a holding company owned by former Guggenheim Partners president Todd Boehly, announced that it would contribute its media assets — including The Hollywood Reporter, Dick Clark Productions, and Billboard, and merge them with MRC into a new company known as Valence Media.[34] In October 2018, MRC formed a joint venture with United Talent Agency known as Civic Center Media, which seeks to back projects involving its members via MRC.[35][36]
On September 23, 2020, it was announced that Penske Media Corporation, owner of The Hollywood Reporter's main competitor Variety, would assume operations of the MRC Media & Info publications under a joint venture with MRC known as PMRC. In turn, MRC would form a second joint venture to develop content tied to PMRC publications.[39]
In September 2021, former E! president Adam Stotsky became the new president of MRC Live & Alternative, replacing the outgoing Amy Thurlow. At this time, Dick Clark Productions was folded into MRC Live & Alternative and discontinued as a brand.[40]
2022–present: Unwinding of the Valence merger
In August 2022, Eldridge agreed with Wiczyk and Satchu to divide MRC's assets, effectively undoing the 2018 Valence Media merger. Eldridge re-acquired the company's live and alternative division (which reinstated the Dick Clark Productions banner), as well as MRC's share of the PMRC joint venture, Luminate (the former MRC Data), and investments in studios including A24 and Fulwell 73. The remaining MRC entity, in which Eldridge will retain a minority stake, will retain its scripted film and TV production entity as well as investments in Civic Center Media and T-Street Productions.[41] Wiczyk and Satchu became chairmen of the company in 2023.[42]
SpinMedia
SpinMedia (formerly BuzzMedia) was an American digital publisher that owned a number of pop culture websites, including Spin, Stereogum, Vibe, and The Frisky.[43] It was founded in 1999 by Anthony Batt, Marc Brown, Kevin Woolery, and Steve Haldane under the name Buzznet,[44] and by 2006, Buzznet had a total of nine employees in the Los Angeles, California, area.[44] The BuzzMedia name was created as the company started to acquire more pop-culture and music blogs.
The company acquired Spin Media, publisher of Spin magazine, in July 2012.[45] After shutting down the print version of the magazine, reducing its staff to about 200, and focusing on advertising, it rebranded itself as SpinMedia in March 2013.[46] At that time, Steve Hansen became its chief executive.[46] In April 2013, it acquired Vibe magazine.[47][48]
In September 2016, SpinMedia sold Buzznet, Idolator, and PureVolume to startup corporation Hive Media.[51] In December of that year, Eldridge Industries acquired Spin, Vibe, Stereogum, and Death and Taxes via the Hollywood Reporter-Billboard Media Group for an undisclosed amount, making Billboard the world's largest music brand in terms of digital traffic and audience share.[52][53]Celebuzz, The Frisky, and The Superficial were sold to CPX Interactive.[54][bettersourceneeded] In January 2020, Spin and Stereogum were sold to Next Management Partners and the site's management, respectively, as part of a larger focus on Vibe and a music data business.[55]
↑Stelter, Brian (January 18, 2013). "A Drama's Streaming Premiere". The New York Times. Archived from the original on January 24, 2013. Retrieved January 25, 2013.
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