Machinima has named Chad E. Gutstein its new CEO, the company announced Monday. Gutstein most recently served as COO of the Ovation television network.
“Machinima is ready for the next level, and Chad has all of the unique qualities we were seeking in a new CEO to bring us there,” said Machinima co-founder and chairman, Allen DeBevoise. “His fresh and respected outlook, deep knowledge of the TV and digital business, and proven track record will all benefit Machinima as we enter our next phase of growth."
During Gutstein’s tenure, Ovation grew from 5 million to 55 million households.
“I’m humbled by the opportunity and excited by the promise at Machinima,” said Gutstein. “Machinima is a pioneer in the online video space and virtually invented the MCN business model. It isn’t every day one is offered the chance to grow a global, category leading consumer TV brand with a massive and highly engaged audience.”
Prior to his time at Ovation, Gutstein founded Entertainment Media Advisors. Previous stints included BuyTV, WaterView Advisors, and Alex Brown & Sons and Rothschild.
Gutstein’s hire is the most recent big announcement from Machinima, a multi-channel network that distributes original video content through YouTube. Earlier this month, the company completed an $18 million round of financing led by Warner Bros. A week later, the company announced that former Fox Networks Group CEO Anthony Vinciquerra had joined its board of directors.
DeBevoise chimed last week at the Content Industry Connect summit in West Hollywood, Calif., regarding the recently announced deal by The Walt Disney Co. to purchase Maker Studios, another YouTube multi-channel network, for $500 million, calling it “fantastic, obviously.” He added, “It’s a thesis that will play out more often, which is media companies getting involved in these YouTube brands."