Passionflix, the romance-focused streaming video service, has raised $9.4 million in a new financing round led by AMC Networks. Over the next couple of years, the streaming service hopes to release close to 20 movies
“Two years goes by real fast when you are making movies because it takes so long to make them,” Musk says.
“We are fortunate that we are making money, so we are able to continue to make content and grow. Maybe not as fast as we would like, but we were able to continue. And for me this next round was really about the right strategic partner,” Musk says. “Having AMC, which has such a strong knowledge base in growing niche streaming platforms, was really important to me.”
Passionflix had raised more than $22 million in multiple rounds since its founding in 2017. Early investors included Norman Lear, Kimbal Musk, and First Look Media. First Look is also participating in the latest round, as is bestselling romance author Bella Andre, per Musk.
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