Discovery Leads $40 Million Round for Thrillist Owner Group Nine

How is the Facebook Watch platform going? Let's ask Group Nine Media, publisher of Thrillist and NowThis, into which Discovery Communications Inc. just led a $40 million funding round:

So far, Discovery is seeing “huge traction” with Group Nine’s audience, Zaslav told Bloomberg TV last month. Group Nine is one of the most eager participants in Facebook’s Watch platform, creating two dozen video series for the service.
“The challenge is it’s not making money yet,” Zaslav said. Discovery is working with Facebook and Snapchat on ways to generate more revenue, he said.

That does sound like a challenge!


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