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Red Arrow Entertainment acquires 20% stake in US production firm
MUMBAI: Red Arrow Entertainment Group has invested a minority stake in Band of Outsiders (BOO), a US production company for broadcast, digital and sponsored entertainment. The deal further strengthens Red Arrow’s footprint in digital content production and English-speaking markets.
Red Arrow Entertainment holds a minority stake of 20 per cent in BOO.
Red Arrow International will distribute the projects internationally.
BOO is based in Los Angeles and founded by CEO Jay Faires. The company partners with leading entrepreneurs, scalable platforms and nascent networks.
BOO develops, produces and distributes premium content with companies including Galore Media, a content creator reaching 40 million of gen Y&Z women daily, and Seed & Spark, the most successful film and television crowdfunding platform with distribution in 100 million homes.
Other projects currently in development include “Dope Nation”, a show that will change the conversation around big pharma, and “American Hate”, a factual series that explores the immigration crisis through the rehabilitation of hate-based extremist in America. BOO thus operates across the four quadrants of linear TV, mobile, branded entertainment and international platforms.
Red Arrow Entertainment Group chairman, CEO Jan Frouman said, “Our deal with Band of Outsiders is part of an ongoing strategy to thoughtfully and deliberately expand our presence in the US content market. Jay is a pure entrepreneur. Anyone who spends 30 minutes with the guy will see that. He’s got great things brewing in linear, digital and branded. We like the idea of joining forces with him at the earliest stage. We think this can be a very cool partnership.”
Band of Outsiders CEO Jay Faires said, “It’s been fun getting to know Jan and his Red Arrow and ProSiebenSat.1 executive team. It’s probably the deepest diligence we’ve ever done on a company and the more we learn, the more we like them. Creative always leads with them, but it’s backed up by strong processes and a team that adds value and has a deeply entrepreneurial spirit. This partnership will undoubtedly strengthen Band of Outsiders’ slate of projects and I’m very excited to be partnering with Red Arrow as they continue to grow in North America.”
BOO is a further step in strengthening Red Arrow’s global digital presence. In 2015, the Group already launched Ripple Entertainment, a digital media company based in Los Angeles.