*Digital media startup Mars Reel recently completed its initial round of funding of $4.7 million with donations from Drake, Dwyane Wade, and Otter Media, now part of AT&T’s WarnerMedia, Variety reports.
Launched in 2010, Mars Reel blends clips of high school basketball athletes with hip-hop in its short videos. The company, founded by Brandon and Bradley Deyo, focuses on sharing its content across several social platforms but aims to produce longer-form content, including video diary series Mars Reel Chronicles and documentary series Life on Mars.
The facility is one of many startup companies that are specifically targeting Gen Z; on track to become the largest generation of consumers by the year 2020.
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“Sports brings out a passion and engagement in fans that is unmatched, and Mars Reel is super-serving the younger generation of sports enthusiasts by giving them authentic sports content that is organic to their world and designed specifically to their unique viewing habits,” Tony Goncalves, chief executive officer of Otter Media, said in a statement. “Mars Reel is a true innovator and we are excited to invest in young, passionate entrepreneurs like Brandon and Bradley who know and understand their audience.”
VP of consumer intelligence at Barkley, Joe Cardador PhD., said when speaking to Forbes that, according to his research, “Gen Z is on track to become the largest generation of consumers in just a few short years. They already represent up to $143 billion in buying power – and that’s without accounting for the influence they have on household spending.”
Steph Wissink, managing director and consumer research analyst at Jefferies, also noted to the publication: “Gen-Zers are showing a willingness to explore and discover, to consume information/media exponentially more than products, and to insert themselves into the consumption conversation – in their households, online and among digital social circles.”
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