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The company that has movie and TV projects in the works based on viral YouTube sensation Skibidi Toilet has just banked a roll of cash — and it’s eyeing additional capital to move forward with other digital creators’
intellectual property as well.
Invisible Narratives, an entertainment company focused on helping digital creators build global franchises, announced that it has received $25 million in investment from funds managed by affiliates of BC Partners Credit, the credit arm of BC Partners, and Verance Capital, a growth-oriented private equity firm investing in media, sports and entertainment.
In addition to the funding, Invisible Narratives announced that it has appointed Mark Shedletsky, who has more than 25 years of experience at digital media and entertainment companies, as president.
The Santa Monica-based company said the initial $25 million is tied to Invisible Narratives’ majority acquisition of Skibidi Toilet. The two investment firms also will provide expertise across media and entertainment to Invisible Narratives. Longer term, BC Partners Credit envisions investing more than $300 million of capital into the creator economy through the Invisible Narratives platform.
Invisible Narratives was founded in 2018 by Adam Goodman, former head of Paramount Pictures and DreamWorks Studios, who has enlisted producer and director Michael Bay as creative adviser.
About the “Skibidi Toilet” film and TV projects, Goodman said the company is “in active conversations with a number of studios and partners.” “‘Skibidi’ is one of the most globally recognized original franchises to emerge from that world, so choosing the right home is critical, and there is real momentum around that process,” he said.
Invisible Narratives has been developing Skibidi Toilet into a multiplatform entertainment franchise over the past two years. Skibidi Toilet now has more than 47 million subscribers, 20 billion-plus views to date and 8.7 billion visits across licensed Roblox experiences, as well as a line of licensed consumer products. The franchise was created by YouTuber Alexey Gerasimov, who started with an 11-second video showing a head emerging from a toilet singing posted to his DaFuq!?Boom! channel. It has since expanded into an ongoing sci-fi saga about the escalating war between alien invaders (who look like toilets with human heads) and an alliance of cyborgs (humanoid characters with devices like TV sets and cameras for heads).
Goodman, who is CEO of Invisible Narratives, coined the term “tradigital” to describe a new kind of studio to back creators who embrace the “nimbleness and creative freedom of digitally native content with the proven franchise model, development discipline and operational infrastructure associated with traditional Hollywood studios.” The company’s focus is on partnering with creators to help them build and scale IP and formats across their digital channels as well as expand into film, TV, gaming and licensing.
Shedletsky, as president of Invisible Narratives, will lead business operations and M&A strategy, identifying creator and IP partners, YouTube channels, brands and games with the potential to scale into global franchises. Previously, Shedletsky built and sold several start-ups and held senior executive roles at MTV and Simon Fuller’s XIX Entertainment.
Goodman said that “Mark is the rarest kind of operator — someone who has repeatedly and successfully scaled companies across film, TV, music, digital media, talent management, and live entertainment. As Invisible Narratives becomes the defining studio of the creator era, there is no one more uniquely qualified to serve as president.”
Shedletsky, about why he’s joining Invisible Narratives, said audiences have “definitively migrated” to platforms like YouTube, TikTok, Steam and Roblox, “where visionary creatives are building the most valuable IP.”
Shedletsky had been an adviser to the company for a few years, “and I had a front-row seat to what the company was building,” he said. He recently saw that “the company hit an inflection point where there’s a massive opportunity in front of us.”
Shedletsky added, “Adam and Michael Bay are two of the most talented creative executives in Hollywood who have already established a successful track record of partnering with the top talent in the creator economy. Along with our capital partners Verance and BC Partners, Invisible Narratives is uniquely positioned to become the studio of the future.”
Shedletsky said Invisible Narratives is in active negotiations with about a dozen creators about inking partnerships, but he declined to name them.
With the funding in Invisible Narratives, Ted Goldthorpe, partner and head of BC Partners Credit, has joined the company’s board of directors. “BC Partners sees a significant opportunity in the creator economy and has strong conviction in platforms with deeply engaged, loyal audiences,” Goldthorpe said in a statement. “Invisible Narratives has demonstrated an ability to cultivate and scale creator-led businesses. We look forward to working with the team to deploy additional capital as they build a billion-dollar studio that extends the confines of traditional film and television. Following our investment in other digital IP platforms, we are doubling down on the creator economy with Invisible Narratives as our platform of choice.”
Lyle Ayes, managing partner of Verance Capital, commented: “Invisible Narratives has developed an incredibly exciting platform for creator properties. It’s undeniable that these new mediums are where the next generation of IP is being developed, and they have the right DNA and playbook to partner with creators to increase the opportunity for everyone. The team is best-in-class with a proven background of identifying talent and building billion-dollar franchises, and we’re thrilled to partner with them to scale existing projects and acquire new, exciting content.”
In addition to Skibidi Toilet, Invisible Narratives’ work to date includes a Telly Award-winning livestream format produced for Twitch; “Crimson,” a horror film led by FaZe Clan creators; and projects with HBO Max and STX Studios.
