Versant Media wants to focus on short-term tasks.
The media company, which owns MS NOW and CNBC and was spun off from NBCUniversal earlier this year, participated in a Series A funding round that will include a partnership with GammaTime, a micro-series streaming platform. Under the agreement, GammaTime will collaborate with Versant to develop a slate of original projects featuring leading showrunners and also utilize content from a portion of the company's entertainment library.
More from Variety
-
Conecta Magaluf-Mallorca: popular series, AI, shocking moments on TV, the microdrama boom in Latin America, and other findings.
-
The series "She Means Justice 2: Breakout" is released on the FlareFlow and GammaTime platforms as a continuation of the popular micro-drama.
-
CNBC appoints Ken Brown as managing editor of digital and editorial strategy.
«"Versant's investment is a turning point for GammaTime and the entire category," said Bill Block, founder and CEO of GammaTime. "We combine unprecedented audience scale and engagement with premium marketing. We create original projects at scale, and Versant provides us with the intellectual property, brand recognition, and creative DNA to do it right." Block, who began his entertainment career as an agent at UTA, previously served as president of Artisan Entertainment and CEO of Miramax.
Versant will become a minority, non-controlling investor in this company.
Micro-series are becoming increasingly important for the media sector, with advertisers from Procter & Gamble to JCPenney showing increasing interest in this format, which allows for rapid content creation. Several companies have begun producing short-form series and dramas for platforms like TikTok and Meta's Reels. In China, such content capsules have already proven popular. London-based consultancy Omdia estimates that micro-series could generate up to $11 billion in revenue by 2026.
Versant's investment in GammaTime follows a $14 million seed round in October 2025, led by vgames and Pitango, which also participated in the Series A round, along with Alexis Ohanian, Kris Jenner, Kim Kardashian, and Traverse Ventures. Since its launch, GammaTime has released microdramas focusing on romance, crime, and fantasy. The company also entered into an agreement with the National Enquirer to use its archives to create original content.
«"GammaTime is reimagining short-form storytelling for a new generation of viewers," said Mark Lazarus, CEO of Versant, in a statement. "Their mobile-first approach and focus on original content make this partnership a natural fit for Versant as we continue to expand our iconic brands, extensive content library, and storytelling capabilities.".
Versant is working to expand its revenue beyond the traditional cable networks it operates. In recent months, the company has acquired assets including FreeTV Networks, a portfolio of FAST channels and free-to-air channels, and StockStory, an AI-powered financial data analytics platform it intends to use with CNBC. The company plans to launch new streaming products related to MS NOW and other divisions of its operations.
The best of variety
-
What's Coming to Disney+ in June 2026?
-
What's Coming to Netflix in June 2026?
-
Tony Awards Predictions: Early Predictions Including 'Death of a Salesman' and 'The Lost Boys,' Plus Possible Records for Squibb, Lithgow, and Apple.
Subscribe to the Variety newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.