Syfy and USA owner Versant invests in microdrama outfit

USA Network and Syfy owner Versant Media has taken a minority stake in microdrama streamer GammaTime and struck a content pact with the company.

Versant, which was spun off from former owner NBC Universal last year, made the investment as part of GammaTime’s Series A funding.

The deal will see the microdrama streamer working with Versant’s talent and showrunners on shortform originals, as well as using IP from the network operator to create programming. CNBC and MSNow are not part of the deal.

GammaTime was launched in October by former ICM agent and Miramax chief exec Bill Block, alongside former Google Gaming exec Slava Mudrykh and Quibi’s Alex Montalvo, who oversees content.

Its series include The Vengeance Affair and Fatal Love Triangle, and the company has also struck a pact with National Enquirer to leverage the US publisher’s archives for shows.

It also agreed a deal with CSI creator Anthony E. Zuiker, who has been behind series including Lust Cop and The Temptress for the streamer.

Financial details for the Series A round have not been revealed but it comes just nine months since GammaTime secured $14m in seed funding. Venture capital firms Vgames and Pitango were involved in that round, alongside Alexis Ohanian, Kim Kardashian and Kris Jenner.

Versant chief exec, Mark Lazarus, said GammaTime’s “mobile-first approach and focus on original content make this a natural partnership for Versant as we continue to extend our iconic brands, deep content library and storytelling.”

Block descrbed Versant’s investment as “a turning point” for his company and microdramas more broadly.

“We’re pairing unparalleled audience scale and engagement with premium marketing. We’re building originals at scale, and Versant gives us the IP, brand equity, and creative DNA to do it right.”

Microdramas have boomed in China and the US over recent years, while streamers such as Netflix and Disney+ are also looking to move into the genre.