Fixated Secures $10 Million Investment to Empower Content Creators
Fixated, a burgeoning content creator management firm established last year, has successfully obtained a substantial $10 million investment from Eldridge Industries, as announced on Wednesday. The company is known for its impressive roster of talent, which includes popular figures such as Zach Justice and Twitch streamer Sketch.
Investment Details and Company Valuation
Although Fixated chose not to disclose its valuation or the exact ownership stake Eldridge acquired, co-founders Zach Katz and Jason Wilhelm mentioned that Eldridge holds a “vast minority” share in the company. In total, Fixated raised $12.8 million in this funding round, with an additional $2.8 million sourced from other investors. Eldridge, under the leadership of CEO Todd Boehly, has a diversified investment portfolio that includes notable brands such as A24 and the Los Angeles Dodgers, as well as a stake in The Hollywood Reporter through a joint venture with Penske Media Corporation.
Founders’ Vision for the Creator Economy
Katz, a seasoned professional from the music industry who previously served as the president of esports and entertainment brand FaZe Clan, co-founded Fixated alongside Jason Wilhelm, who has experience with TikTok creator management through TalentX. They established Fixated to fill what they perceive as a significant gap in the content creator economy, where insufficient representation exists to assist creators in navigating and growing their businesses.
Expanding Opportunities for Content Creators
Many creators are diversifying their career paths beyond single platforms, venturing into various mediums such as podcasting, livestreaming video games, and producing short-form videos on platforms like TikTok. Katz and Wilhelm observe that while many managers primarily focus on securing brand deals, the industry lacks comprehensive strategies tailored to foster content creation.
The Need for Stronger Support Systems
Katz reflects on his transition from the music industry, where artists receive extensive support from dedicated managers, to the digital entertainment sector, where such support is often lacking. He emphasizes that unlike musicians, content creators must innovate daily, akin to producing a “hit song,” keeping their output fresh and engaging for their audiences.
Adapting to the Evolving Creator Landscape
Wilhelm points out that many agents continue to focus on traditional brand deals, often overlooking that content generation is where creators generate the majority of their income. They advocate for helping content creators across diverse platforms such as Snapchat, Facebook, YouTube, and various streaming services, recognizing the unique demands each platform presents.
Shifting Perceptions of Content Creators
Katz also stresses the outdated view that reduces content creators to mere influencers, advocating for a recognition of their professional status akin to traditional entertainers. As the creator economy gains mainstream recognition, he observes a shift in aspirations among his clients, moving away from seeking Hollywood opportunities to building sustainable businesses that leverage their engaged audiences across multiple platforms.
“If Hollywood was the major leagues, this digital entertainment industry was the minor leagues,” Katz expressed. “The big ambition has changed from wanting a show on platforms like Netflix or Hulu to figuring out how to cultivate a business that harnesses the attention of those gazillion eyeballs out there.”
This evolution reflects a broader trend where creators are now prioritizing their established environments, recognizing the value of their digital influence and adjusting their objectives accordingly.