From left: Dude Perfect's Coby Cotton, Cody Jones, Tyler Toney, Garrett Hilbert and Corey Cotton at the 2021 ESPY Awards on the Rooftop of Pier 17 in New York City on July 10, 2021 Attended.
Michael Loccisano/Getty Images
One of YouTube's biggest brands is planning a major expansion and has secured a huge investment to do so.
Dude Perfect, perhaps best known for its elaborate trick shot videos on YouTube and other video platforms, has received a nine-figure investment from Highmount Capital to build its business in new areas and expand its core program. has been secured.
Terms of the deal were not disclosed, but sources said the investment was estimated at more than $100 million, a huge sum for a brand originally built on YouTube.
“We had a lot of dreams and big visions that we weren't able to tackle yet with our team size or the capital we had, so this is something we've been working on for the past year.” We've been looking into it, and when Highmount came out, we were really excited,” Coby Cotton, one of Dude Perfect's co-founders, said in an interview. hollywood reporter.
In addition to expanding the group's content output, Dude Perfect wants to create more live experiences and explore more consumer product opportunities, Cotton said. “We want to further expand what we can create for families to actually use in their homes. We feel the possibilities are endless.”
“The nine-figure investment is important, but I think it's because there's so much potential in what Dude and the others are doing,” said Jason Irian, co-founder and general partner at Highmount Capital. talk. “So the creator's economic size is he's $250 billion, and he's going to double that in the next few years.
“When you talk to teenagers and kids and people who watch The Dudes, they're all influenced and three out of four kids say they want to be influencers and creators, so they “I don't think that's going to happen in the near future. They're going to call it the creator economy, but they're going to just call it media, because that's what it is and Dudes is at the forefront of it.” added. “We want to make sure we have enough capital to do it well given everything we have in front of us: sports teams, retailers, event opportunities, etc., so a large investment makes sense. I thought it was appropriate.''
Founded in 2009 by five Texas A&M friends (twins Koby and Cory Cotton, Tyler Toney, Cody Jones, and Garrett Hilbert), Dude Perfect is the most popular YouTube channel with over 60 million followers. It has become one of the Dude Perfect previously had TV series on CMT and Nickelodeon, as well as an alternate run on Amazon. thursday night footballis also touring nationally and plans to build a new headquarters in Frisco, Texas, where visitors can create content and attend live events.
They also plan to welcome new talent, which has already begun quietly through the free Dude Perfect app and streaming service, which will allow users to submit and showcase their own trick shots .
“[Highmount] We really captured the vision that this is a brand that will outlast just the five of us – as fun as it is to still be flipping water bottles with the five of us in our 70s – we're committed to that. I agree. We're really excited to welcome new talent and showcase other talent from creators around the world, and this has the potential to become much bigger than just the five of us.” says Cotton.
The ultimate goal is to create a Dude Perfect brand that will last for decades, and Irian likens Dude to Walt Disney.
“When they drew the first Mickey Mouse, I don't know if they understood that Disneyland and movies and everything else was going to be there at that time,” he says. “But I see them doing the same thing in this family-friendly space. I was driving by the other day and there was a line outside Smoothie King. I've seen lines outside Smoothie King. No, but 9 out of 10 kids came out with a Dude Perfect Smoothie. [as created in a recent video by the dudes]. And I think that speaks to what they do and whether that applies to animated series or TV series or movies or even product lines and things that come with it. There's a lot on the table and it's going to require capital and resources, and we're here to serve and support them. ”
In a world where family entertainment is in high demand, Highmount and the Dude Perfect team believe there is significant growth opportunity.
“Our mission is to create the most trusted entertainment on the planet,” Cotton says. “Families are always looking for ways to come together and actually share moments and memories.”
CAA Evolution served as exclusive financial advisor to Dude Perfect, and King & Spalding served as legal advisor. Highmount Capital was represented by Stinson LLP.
