Machinima, a leader in videos for fanboys and fangirls and gamers, has named television veteran Chad Gutstein as its new chief executive.
Gutstein, former chief operating officer of the Ovation television network, will replace Machinima cofounder Allen DeBevoise, who announced last fall he was searching for a replacement.
“Machinima is ready for the next level, and Chad has all of the unique qualities we were seeking in a new CEO to bring us there,” said DeBevoise in a statement. “His fresh and respected outlook, deep knowledge of the TV and digital business, and proven track record will all benefit Machinima as we enter our next phase of growth. Chad’s most recent experience building Ovation’s brand and audience, and translating the value of its audience and programming to TV distributors and tier one advertisers, will help Machinima exponentially accelerate its mission.”
As Machinima’s new CEO, Gutstein will over see Machinima’s strategy for all aspects of its business, which is famous for user-generated shows about video games and talkshows such as Inside Gaming.
“I’m humbled by the opportunity and excited by the promise at Machinima,” said Gutstein in a statement. “Machinima is a pioneer in the online video space and virtually invented the MCN business model. It isn’t every day one is offered the chance to grow a global, category leading consumer TV brand with a massive and highly engaged audience. We plan to profitably grow our business with engaging original programming, nurturing the best affiliate channel partner program, and creating innovative solutions to help marketers reach our young, male, and highly mobile audience.”
Machinima recently raised $18 million from Warner Bros. Entertainment and existing investors MK Capital, Redpoint Ventures, and Google Capital. Machinima also laid off dozens of employees in a restructuring.
“As Machinima’s newest investor, we are impressed with Chad’s experience leading a premium content business which built a brand with value to both audiences and advertisers. He brings great energy and dedication and we’re excited to partner with him and the team at Machinima,” said Thomas Gewecke, chief digital officer of Warner Bros. Entertainment.
Before joining Machinima, Gutstein was COO at Ovation, America’s arts television network. He helped grow the network from five million households to nearly 55 million.