Ben Silverman and Howard Owens’ Propagate Content has secured a $50 million investment from Ares Management, valuing the studio at more than $200 million.
The fresh funds will be used to accelerate the company’s ongoing expansion across digital, studio, and creator representation, as well as its traditional talent management. It will give Propagate the ability to provide services to scale their talent’s brands and businesses across sponsorships, affiliate marketing, podcasts, productions, ventures, events, and more.
Additionally, the investment will be used to pursue strategic opportunities and evaluate larger-scale acquisitions.
Since its founding in 2015, Propagate has built a portfolio spanning premium scripted and unscripted content, documentaries, and talent representation across traditional and digital platforms.
Its notable credits include CNN’s “I’m Chevy Chase and You’re Not,” Apple TV’s “Stick” starring Owen Wilson, Prime Video’s “Capital One Skins Game,” Food Network’s “Chopped” franchise, the Netflix documentaries “In Her Hands” and “Untold” and documentaries about Sam Bankman-Fried and the late NBA legend Jerry West. It also represents thousands of creators, actors, writers, and digital influencers across Artists First, Authentic Talent & Literary Management, Select Management Group and Parker Management, including Mikey Madison, “Wicked” director Jon M. Chu and members of the cast of Hulu’s “Secret Lives of Mormon Wives.”
“We are thrilled to partner with Ares. They bring us incredible financial acuity as well as access to growth capital that will fuel the continued expansion of our independent, next-generation studio,” Silverman said in a statement. “We’re grateful to have Ares backing our vision for the future of entertainment.”
It marks the latest investment in sports, media and entertainment for Ares, following deals with GoldState Music, Inter Miami CF, Atlético de Madrid, League One Volleyball and McLaren Racing, among others.
“Propagate has established itself as a dynamic force in entertainment by building a leading digitally diversified talent representation business while consistently delivering premium content across multiple platforms,”Ares sports, media and entertainment co-head Jim Miller said. “Ben, Howard, and their team have created a differentiated company positioned at the intersection of traditional media and the creator economy. We’re excited to support their ambitious growth plans and help them capitalize on the significant opportunities ahead.”
The transaction was led by Propagate’s Group President and COO Drew Buckley and CFO Noah Nusinow, with counsel from Skadden Arps and Proskauer Rose LLP representing Ares.
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