SummaryEdit
NextUp aims to propel stand-up comedy into the £40 billion subscription video market. VC backed, they provide live gig streaming for comedy fans and preserve live shows for artists via their subscription video-on-demand platform.
- £1.5m funding raised to date including from VC and media executives
- 27% share value increase from 2019 round
- Scalable economics: £25 CAC
- Co-Founded by the former Head of Comedy for BBC Worldwide
IdeaEdit
The subscription VOD market is fast-growing at 10% YOY. As we have more choice than ever over what to watch, it's broken off into genres e.g. HayU (reality) and Shudder (horror).
NextUp is a destination content source for the est. 5.8m UK comedy fans and beyond. Unlike other genres, comedy costs little to produce, meaning we release content reflecting the true comedy circuit, with original content produced by us that would otherwise be lost.
We monetise our content for fans to enjoy worldwide, sharing revenue with the acts. NextUp streams via web, mobile & TV apps for £59.99p/year with a 7-day free trial. With 3yrs of development and user experience behind us, we've scalable unit economics with an ave. £25 CAC.
We also support acts through free practice space, fronting diversity initiatives and COVID-19 support with virtual gigs and a JustGiving campaign that raised £120k+.
Our share value has increased 27% since 2019 due to amazing progress:
- Increased users to c.5,000
- Launching a podcast and festival
- MRR from subscriptions grew 173% to £25k (YTD EBITDA of -£361k)
- 200+ shows catalogue from 120
- Partnerships inc O2, McDonalds, The Telegraph
We’re raising to cement our UK position whilst upgrading NextUp to grow reach via direct-to-app live streaming. The round is being led by Velocity with a view to position us for a Series A in 2021, and we'd love you to join us on our journey.
TeamEdit
Our team has worked together since 2010 at YouTube channel ‘ComComedy’, where we formed relationships in the stand-up comedy industry. Since our last round we have built our team for further growth, adding to our already strong 42 years collective experience in comedy production and digital to include marketing and finance.
DANIEL BERG - CEO
Daniel is BAFTA-winning comedy producer with an in-depth understanding of the Edinburgh Fringe and who has previously worked with Comedy Central, E4 and Cartoon Network.
SARAH HENLEY - COO
Part of BBC's New Talent Hotlist and qualified NLP Master Trainer, Sarah has a background in law, having worked at Citibank and WilmerHale. She also produced a Time Out 'Critics Choice' comedy night for five years.
KENNY CAVEY - CPO
Cannes Lions shortlist and Drum Marketing Award Winner Kenny has produced shoots for Channel 4, The BRITs and Sony.
STUART SNAITH - Co-Founder & Special Advisor
Former Director of Comedy at BBC Worldwide and Managing Director of 2Entertain, Stuart is incredibly well connected amongst rights holders, broadcast executives and distributors.
BRUCE TUCHMAN - Investor & Special Advisor
Former President of MGM Worldwide and AMC Networks, Bruce is highly experienced in licensing deals and strategic territory expansion.