VENN

Last updated
VENN
Venn TV logo.png
Broadcast areaWorldwide
Headquarters Playa Vista, California United States
Programming
Language(s) English
Picture format HDTV (1080p/720p 16:9)
Ownership
OwnerGaming 24/7, Inc.
History
LaunchedAugust 5, 2020 (2020-08-05)
ClosedAugust 2021[ citation needed ]
Links
Website www.venn.tv

VENN (short for The Video Game Entertainment & News Network) [1] was an American streaming television network based in Playa Vista, California. [2] Launched on August 5, 2020, the network was dedicated to gaming and pop culture content geared towards Millennial and Generation Z audiences. [3] [4]

Contents

History

VENN was co-founded in 2019 by former EA Brand Marketer Ben Kusin and Riot Games' former Head of Esports Content Ariel Horn. [5] The network raised $17 million in a seed funding round led by Bitkraft Esports Ventures and private investment firm Eldridge Industries. [6]

VENN was officially announced in April 2020 as a gaming TV network that provides a "mix of gaming, news, entertainment, and music, as well as original series featuring creators and influencers." [7] The network built a studio in Playa Vista, California with another one being constructed in New York City, [8] located inside 3 World Trade Center. [9] However, due to the COVID-19 pandemic, the completion and opening of the New York studio was delayed until further notice. [10]

VENN beta launched on August 5, 2020, featured over 30+ hours of new content weekly, and was available on Twitch and YouTube. [11] [12] The network is broadcast on Twitch, YouTube, Facebook Gaming, Xumo, Samsung TV Plus, The Roku Channel, Vizio, Plex, Distro TV, and Stirr. [13] All of its programming prioritize live community interaction, either through polls or the hosts reading comments and answering questions from the Twitch chat or the official Discord server.

On October 20, 2020, it was announced that VENN had raised over $26 million during its Series A round of financing. The added investments bring its company total to $43 million and will be used to further expand its business. [14] The company also announced the hiring of former MTV employee Jeff Jacobs as their new EVP and general manager. [14]

In 2021, Horn announced a recalibration of VENN's content creation and distribution. These include a heavy focus on its Esports coverage, a simulcasting deal with Fan Controlled Football, [15] the launch of two new YouTube channels (VENN Download and VENN Esports, with its main channel being rebranded as VENN Plays), and the retooling of The Download and Guest House into more short-form series. [16] Horn also revealed they are in talks with linear television outlets for syndication deals and plan on producing more content for streaming platforms. [16] In July, VENN retained accounting firm Armanino LLP to seek a possible acquisition. The following month, the network cut half of their staff and Facecheck, a show that was acquired for its 3rd Season by Venn, then became acquired by G4 for its 4th Season. [17] [18] VENN's YouTube and social media accounts have since been inactive, with the network's website taken offline. VENN has since been considered defunct. [19]

One May 5, 2022, an article from the outlet Input revealed allegations from former VENN employees that claim that mismanagement led to the company shutting down. [20]

See also

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References

  1. ↑ Snider, Mike. "Video game TV network VENN launches 24/7 coverage of esports, pop culture and technology". USA Today. Retrieved 5 August 2020.
  2. ↑ Goldsmith, Jill (9 April 2020). "Gaming Network VENN Sets July Launch From Playa Vista Studio; Kroenke Sports Is New Backer". Deadline. Retrieved 9 April 2020.
  3. ↑ Takahashi, Dean (9 July 2020). "VENN unveils 20 hours of weekly video game programming for broadcast TV". Venture Beat. Retrieved 9 July 2020.
  4. ↑ Oscar, Zach. "What VENN Launch Means For Gamers And Advertisers". MediaPost. Retrieved 28 July 2020.
  5. ↑ Wolf, Jacob (17 September 2019). "New esports network VENN to launch in 2020". ESPN. Retrieved 17 September 2019.
  6. ↑ Perez, Matt. "Video Game Network Launches With $17 Million In Funding And Backing Of Riot, Twitch And Blizzard Cofounders". Forbes. Retrieved 17 September 2019.
  7. ↑ Henry, Jasmine (13 April 2020). "New Gaming TV Network VENN Announced". Game Rant. Retrieved 13 April 2020.
  8. ↑ Zeitchik, Steven. "Network seeks to become MTV for the gamer generation". Washington Post. Retrieved 17 September 2019.
  9. ↑ Novy-Williams, Eben (9 April 2020). "The Would-Be MTV of Esports Hastens Launch During Lockdown". Bloomberg.com. Retrieved 9 April 2020.
  10. ↑ Dachman, Jason (5 August 2020). "Inside the Launch of VENN 24/7 Gaming-Lifestyle Network in the Midst of the Pandemic". Sports Video Group. Retrieved 5 August 2020.
  11. ↑ Lee, Wendy; Sakoui, Anousha (11 April 2020). "Hollywood has few jobs, but these companies are hiring workers idled by the coronavirus". Los Angeles Times. Retrieved 11 April 2020.
  12. ↑ Browne, Ryan (5 August 2020). "TECH A new TV network aims to lure a generation brought up on video games in the coronavirus era". CNBC. Retrieved 5 August 2020.
  13. ↑ "VENN | WHERE TO WATCH". VENN. Retrieved 5 November 2020.
  14. 1 2 Spangler, Todd (2020-10-20). "VENN Raises $26 Million in Funding to Expand Gaming and Esports Network". Variety. Retrieved 2020-11-01.
  15. ↑ "Johnny Manziel is playing Fan Controlled Football. Here's what that means". WRBL 3 - Columbus. 23 February 2021.
  16. 1 2 Fudge, James (2021-02-17). "VENN's Ariel Horn on Lessons Learned From the First Six Months of Operation – The Esports Observer". The Esports Observer. Retrieved 2021-05-09.{{cite web}}: CS1 maint: url-status (link)
  17. ↑ "VENN hires accounting firm for 'accelerated' acquisition process amid pivoting business, financial struggles". Daily Dot . 2021-07-30. Retrieved 2021-11-03.{{cite web}}: CS1 maint: url-status (link)
  18. ↑ "VENN furlough nearly half of staff, cancel 'Facecheck' show". Daily Dot . 2021-08-18. Retrieved 2021-11-03.{{cite web}}: CS1 maint: url-status (link)
  19. ↑ "How esports broadcaster Erin Ashley Simon managed to stand out from the crowd". NME. 2021-11-29. Retrieved 2021-12-04.{{cite web}}: CS1 maint: url-status (link)
  20. ↑ "Inside the colossal failure of VENN, the 'MTV of video games'". 5 May 2022.
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