Summary List Placement
Less than two months after his sudden departure from TikTok, Kevin Mayer has quietly reemerged as a rookie investor in the music and technology space.
Mayer was quietly revealed Tuesday as a participant in a $1.5 million seed funding round for Moment House, a new platform designed for artists to host ticketed concerts and live events — but virtually. Mayer was just one of the investors listed alongside celebrity figures like “Suicide Squad” actor Jared Leto, music producer Scooter Braun, and music artist Kygo.
It’s been a whirlwind 2020 for Mayer, who kicked off the year as a high-powered, 15-year-tenured executive at Disney widely seen as next in line to succeed outgoing CEO Bob Iger. His decision to leave his cushy role for a chance as TikTok’s first CEO seemed promising, but he lasted less than three months in the job as the company faced a tumultuous summer fueled by political tensions and billion-dollar deal negotiations. Now, Mayer is following the path of other Hollywood moguls looking to put their own money behind the entertainment industry’s next big thing.
On its face, Mayer’s debut as an investor could be surprising. Mayer is perhaps most well-known for heading up the successful launch of the Disney Plus streaming service, which surpassed analyst expectations and generated more than 50 million paying subscribers by the time it turned six months old.
But prior to becoming head of Disney’s direct-to-consumer offerings in 2018, Mayer devoted more than a decade to leading the company’s corporate strategy and business development. He was in charge of Disney’s deal-making strategy when it acquired multichannel YouTube network Maker Studios for $500 million in 2014. He’s credited with orchestrating Disney’s massive purchases of Pixar, Lucasfilm, and Marvel, as well as the $71-billion acquisition of 21st Century Fox. Even before Disney, Mayer was a partner at a global consulting firm overseeing its media and entertainment projects.
In the wake of Disney and TikTok, Mayer is sticking with the industry he knows best. Moment House is one of the many platforms who have launched or pivoted to serve the need for virtual replacements to in-person live events in the wake of the coronavirus pandemic. Mayer’s involvement with Moment House stands as a seed investor among many high-profile ones helping the new platform get off the ground.
Through a spokesperson, Moment House CEO Arjun Mehta told Business Insider that Mayer “believes in the vision of Moment House and believes the team can execute this digital experience.” His monetary support behind the startup is “great validation from someone that deeply understands media,” the spokesperson said.
Mayer was unable to be reached for comment.
Mayer’s name has also been linked to other investment projects beyond Moment House in the less than two months since he resigned from his unusually public role at TikTok. Recent filings with the Securities and Exchange Commission listed Mayer as a strategic adviser for a new company trying to raise money in the media and entertainment space. Forest Road Acquisition is a newly …read more
Source:: Businessinsider – Tech