Exclusive: Anonymous Content CEO says firm is open to outside investment
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Anonymous Content CEO Darren Walker speaks with Axios' Sara Fischer at Media Trends Live on Oct. 20 in New York City. Photo: Jonathan Heisler for Axios
Anonymous Content, the independent production studio behind Oscar-winning hits like "Spotlight" and "The Revenant," is open to raising private capital from third-party investors, president and CEO Darren Walker told Axios on stage at its annual Media Trends Live event in New York City on Tuesday.
Why it matters: New funding would expand its backing beyond its primary investor, Laurene Powell Jobs' Emerson Collective, and could empower it to better compete for premium projects as it expands internationally.
What he's saying: Asked whether Anonymous Content would consider outside investment, Walker said there's "no doubt" that the studio would be open to it.
- He said, however, "much of the capital in the market today, certainly in Hollywood, is private equity" and that kind of investor wouldn't be a candidate.
- Walker explained that PE investors want to "get your money back and get that alpha return, and clients are happy and we get rich."
- But Anonymous and Emerson "have a very long-term strategy for capital renewal, for return on investment, and so our horizon is not the usual three- to five-year horizon," he said.
Catch up quick: Anonymous Content was founded in 1999 by the late Steve Golin, an acclaimed Hollywood producer.
- It's known for producing a diverse range of prestige TV and film content, including "Mr. Robot," "True Detective," "Babel" and "Eternal Sunshine of the Spotless Mind."
- Emerson Collective first acquired a substantial minority stake in Anonymous Content in 2016 and has since become its controlling investor.
- Its financial commitment to Anonymous Content deepened when Walker became president and CEO. Powell Jobs has served on the Ford Foundation's board of trustees since 2021, and overlapped with Walker (the foundation's former CEO) there.
The big picture: Walker, who took over the studio in January after leading the Ford Foundation, has outlined plans to double the company's European film productions, reflecting a broader push into global markets.
- Walker pointed to European countries that offer economic incentives like rebates instead of tax credits to attract production budgets. He noted these countries also have skilled labor and English-speaking local staff, plus far lower costs.
- Asked about efforts in the U.S. to create a federal film tax credit to keep production jobs in the country, Walker said: "They are a way towards getting the right incentive structure in place, but we've got to start somewhere."
The intrigue: In the absence of a federal credit, Walker said the system is "sort of a race to the bottom among the states" that is an "irrational, dysfunctional system that needs coherence."
