We are excited to announce Pride Fund I’s investment into Revry!
Revry is a streaming platform that provides trusted, authentic, and convenient premium LGBTQ+ content to queer audiences.
This investment is a fractional fulfillment of Pride Fund I’s mission to empower phenomenal entrepreneurs & invest in unique and under-tapped communities. As an extension of LOUD Capital, we focus on early-stage startups led by members of the LGBTQ+ community and help them scale their ideas to the stratosphere. It is our honor to partner with founders that have the authenticity, focus, and expertise of Damian and Christoper.
Great content is being pushed to consumers every day but is extremely fragmented across multiple platforms. Big-name streaming services like Netflix, Hulu, and Amazon Prime Video are focused on horizontals instead of verticals (the “everything for everyone” model). Community-focused content has been a trend in recent years and has led to the success of niche streaming platforms like Cheddar, Crunchyroll, and Pluto TV. In general, the success of niche streaming services is based on:
- Demand of content by the specific community
- Ability of the service to provide a majority of the content in the niche
- Value for content creators who could give exclusivity rights to other platforms
Revry has been steadily building a community over the past 2 years to meet the demand for premium LGBTQ+ content and currently has more than 2 million monthly active users. The service is available in +250 million households and is on track to reach 1 billion by the end of 2021. Their catalog includes over 1500 hours of LGBTQ+ content in the form of original content, movies, shows, music, news, and podcasts. They currently offer live and on-demand streaming options. Revry provides content creators with the opportunity to build a deeper connection with fans on an authentic platform with strong brand loyalty. Their unique offering also presents an opportunity for advertisers and brands. LGBTQ+ consumers can be targeted with a precision that is not offered by big-name streaming services. Ultimately, advertising on Revry provides brands with a better understanding of what consumers want.
We love companies that are built for people. Revry’s team has built an amazing product that services millions of people around the world and connects them with content produced for them by people who look just like them. When we first met Damian, we resonated with his stories about building community within large companies like YouTube and Chevrolet. We were amazed by the growth in the past 2 years. We’re excited to be a part of the journey.
Prepared by David Malloy
