Dec 5, 2023 - Economy

Exclusive: Production studio FazeWorld raises seed round

Adam Faze. Photo: Anna Koblish

FazeWorld, a production studio that's created viral TikTok shows, has raised a $750,000 seed round at a $7.5 million valuation from a slew of big names in media, studio chief Adam Faze exclusively tells Axios.

Why it matters: The round underscores the interest in short-form video content, especially from younger audiences.

Of note: Investors include UTA CEO Jeremy Zimmer, Sinai Capital Partners' Jordan Fudge, Adobe's Scott Belsky, Sam Teller, Kevin Johannesen, Steal The Moon Ventures and Kareem Rahma.

How it works: FazeWorld's content strategy involves creating shows for digital platforms like TikTok, Instagram and YouTube with high production quality on low budgets.

  • It plans to make money through show sponsorships, merchandising, licensing and a content studio for brands. Faze tells Axios that the business is already profitable through that white label business.
  • FazeWorld's pitch deck lists three unscripted shows — Keep The Meter Running, Buying Time, and Einstein Elementary — that Faze produced last fall for $18,268 and garnered more than 150 million views across TikTok and Instagram.
  • His studio's first series, Clockwork Dynasty, garnered 100,000 followers and more than 12 million views in its eight-episode first season this past summer. The second season launched last week.

What's next: FazeWorld's upcoming slate includes a game show hosted by Kareem Rahma, a talk show with nail artist Ameya Okamoto and Fifty Stars, a political network with Bird Aren't Real co-founder Peter McIndoe.

Catch up quick: Faze, 26, grew up in Los Angeles and moved to New York to work at studio Mad Realities in January 2022. He co-founded FazeWorld with Saheer Mathrani, formerly of Authentic Brands Group, in early 2023. It has two other full-time employees, Ari Cagan and Damion Bucenec.

The big picture: FazeWorld's pitch deck notes the audience decline of television and the growth in digital. More people are going to apps like TikTok for news and entertainment, giving rise to new content creators.

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