"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 Machinima co-founder Allen DeBevoise. "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." DeBevoise cites Gutstein's work as COO of Ovation, an online network aimed at the arts, where Gutstein had great success in driving home the value of online streaming content to advertisers more familiar with traditional video broadcasting.
"Machinima is a pioneer in the online video space and virtually invented the MCN business model," Gutstein said of his new employer. "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."
Allen DeBevoise previously served as Machinima's CEO. He voluntarily vacated the position last November amid the company's mounting financial woes in the hopes that Machinima could attract more "professional management."
"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. "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 lead the charge in evolving Machinima's network and brand strategy. He will oversee all aspects of the business, including programming, sales, marketing, strategic partnerships, product development, and diversification of distribution and revenue.
"I'm humbled by the opportunity and excited by the promise at Machinima," said Gutstein. "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."
"We are very pleased to partner with Chad on this next phase of Machinima," said Geoff Yang of Redpoint Ventures. "He quickly emerged as the clear choice to lead the business. As big believers in online video, we were looking for someone with a proven track record in media and digital who has equal parts operator and entrepreneur. Chad perfectly fit that bill."
"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, Inc.
Prior to Machinima, Gutstein served as Chief Operating Officer of Ovation, America's only arts network. Under his stewardship, the network's distribution grew to nearly 55M households from 5M. As COO, Gutstein led the senior executive team in developing and executing the company's business objectives and had responsibility for the overall P&L of the business. Prior to the acquisition of Ovation, Gutstein founded Entertainment Media Advisors, a media focused consultancy. Previously, Gutstein served as Senior Vice President of BuyTV and Principal at WaterView Advisors, a stage agnostic media investment fund. Gutstein started his career in investment banking with the firms Alex Brown & Sons and Rothschild, where he completed transactions totaling nearly $8 billion.
Gutstein holds an MBA from Columbia Business School and a BA in Economics from The Johns Hopkins University.
Machinima is the leading video entertainment network for young males and video gamers around the world. One of the top entertainment networks on YouTube, Machinima delivers more than 2 billion video views per month and reaches more than 170 million viewers monthly. The network features scripted series, original content, weekly and daily shows, official publisher content, and gameplay videos, all aimed at the coveted 18-34 year-old male demographic. The company is headquartered in Los Angeles, California and backed by MK Capital, Redpoint Ventures, Warner Bros. Entertainment Inc. and Google Capital.
For more information, please visit www.Machinima.com and YouTube.com/Machinima.