Turner Broadcasting's TBS and TNT unit has started a business strategy unit aimed at building new businesses in a changing media environment that will be headed by David Beck and Jesse Redniss, founding partners of BRaVe Ventures, a media technology advisory and investment firm.
Turner has acquired BRaVe’s advisory business, which has been working with TNT and TBS to help launch the eSports league ELeague, develop Turner Ignite—an ad sales data team—and Launchpad, which optimizes social media.
Beck becomes chief strategy and venture officer for TBS and TNT. Redniss will be chief innovation officer. Both report to Kevin Reilly, president of TBS and TNT and chief creative officer for Turner Entertainment.
"We have benefited from the expertise of David and Jesse in both business development and consumer experience over the past year," said Reilly. "With the guys now exclusively in our corner we can accelerate the evolution of TNT and TBS into dynamic omni-channel brands distinguished by top-notch content, as well as premium experiences and consumer connections."
Turner has been working to transform TBS and TNT, making them more millennial focused with new original programming. New original series will be part of a company-wide effort to reduce the commercial loads in shows, which it expects will improve the consumer experience and make the advertising more memorable and effective.
Prior to founding BRaVe, Beck was senior VP and head of social media for Univision. Before that he was with Bain & Co.
Redniss was senior VP of digital at USA Network, where he managed second-screen initiatives, developed digital content and created monetization strategies.
"We founded BRaVe with a clear vision to help companies navigate the rapidly evolving and confusing entertainment ecosystem," said Beck and Redniss. "Turner's leadership is both aggressive and fearless in their approach to dealing with these challenges. After spending the past two years deeply entrenched with their teams and helping them define their vision, we couldn't be happier with this outcome. The speed at which Turner is bringing change to the marketplace is unprecedented, and our goal is to ensure that TBS & TNT reach tomorrow first."
The BRaVe Media Ventures brand will still exist as a stand alone entity housing the various investments it made as well as several of the shows and incubated businesses that are at various stages of development with partners. Many of the initial investments have gone on to subsequent rounds of financing and they're confident in their continued success.