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Jonathan Carson & Rameez Tase, Co-founders of ANTENNA

Antenna, a new streaming measurement company, has raised a $4.2 million seed round from Raine Ventures, the venture arm of The Raine Group, which has invested in high-profile media and tech companies like Soundcloud and Foursquare.

Why it matters: The transition to digital streaming and mobile phones has created an opportunity for new entrants to disrupt the media measurement industry.

Details: Raine is being joined by a group of angel investors, including other media industry startup founders and thought leaders.

  • The money will be used to launch online client tools and to expand its measurement coverage into consumer subscription verticals outside of entertainment streaming, such as gaming, audio and health and wellness.

Between the lines: Antenna, which launched in February, entered the space ahead of the biggest streaming boom in recent history, driven by the pandemic.

  • The company has risen to quick prominence among media insiders, who use Antenna's data to help measure user purchase behavior and key subscription metrics across the subscription media landscape.
  • Most notably, the company measures churn, or how often people cancel their subscription services.
  • The company was co-founded by veteran digital media and measurement executive Jonathan Carson and former Axios and Mic head of audience and analytics Rameez Tase.

The big picture: Amid the pandemic, with so much more traditional media businesses pivoting to digital, a lot more money has been flowing into media measurement companies.

  • DoubleVerify, an ad fraud measurement company, raised $350 million last month.
  • SimilarWeb, an Israeli-based internet measurement company, raised $120 million last month, bringing its total funding to-date to $240 million.

Editor's note: Rameez Tase is a former Axios executive.

Go deeper

Jan 25, 2021 - Economy & Business

The podcast business is booming, but few are making money

Data: PwC Global Entertainment & Media Outlook; Chart: Michelle McGhee/Axios

Nearly every major media and entertainment company is pouring lots of cash into launching new podcasts. But many of them aren't making big money — at least not yet.

Why it matters: As is the case with most new technologies, when it comes to podcasts, consumer adoption has outpaced monetization.

Updated 9 hours ago - Politics & Policy

U.S. sounds alarm on Ukraine

Conscripts line up at a Russian railway station yesterday before departing for Army service. Photo: Sergei Malgavko/TASS via Getty Images

The Biden administration is "deeply concerned" by new intelligence — detailed for Axios and other outlets — showing Russia stepping up preparations to invade Ukraine as soon as early 2022.

Why it matters: Most of this was known from public sources and satellite imagery, but the administration is sending a stronger signal by releasing specific details from the intelligence community.

10 hours ago - Economy & Business

CNN fires Chris Cuomo

Photo: Kevin Mazur/Getty Images for CNN

CNN said Saturday evening it has fired one of its star anchors, Chris Cuomo, following new revelations from a legal review made by the company into Cuomo's involvement in the management of his brother's sexual harassment scandal.

Why it matters: Saturday's firing speaks to how much pressure CNN was under by employees and critics to address Cuomo's behavior.