Kevin Hart Merges Laugh Out Loud And Hartbeat Productions to Form HARTBEAT, Raises $100M Investment

Kevin Hart Merges Laugh Out Loud And Hartbeat Productions to Form HARTBEAT, Raises $100M Investment

Kevin Hart Merges Laugh Out Loud And Hartbeat Productions to Form HARTBEAT, Raises $100M Investment

Comedian Kevin Hart announced today that he has merged his two entertainment companies HartBeat Productions and Laugh Out Loud together to form HARTBEAT. The combining of his entities has allowed him to raise $100 million to fuel the mission to keep the world laughing together.

The entrepreneur has stated that the new company, HARTBEAT, is a global, multi-platform media company creating entertainment at the intersection of comedy and culture with a mission to keep the world laughing together.

HARTBEAT is launching with a $100 million investment from private equity firm Abry Partners, giving them a minority stake in the new company. Abry Partners partner Nicolas Massard is taking a seat on the HARTBEAT board. Peacock, NBCUniversal’s streaming service, which already had an equity stake in Laugh Out Loud in 2020, will remain a shareholder.

“The creation of HARTBEAT and our capital raise with Abry represent a new era in comedy. This all started out with a mission to keep the world laughing together and I’m so proud our teams have delivered on that, putting in the hard work to build the most innovative and inclusive comedic storytelling company,” says Hart in a written statement. “In an industry that loves to say no and close doors, I’ve been bullish about forging our own path and using our success to open doors for others. With this merger and funding, we’re taking the new blueprint we’ve built in entertainment to the next level and creating opportunities for a new generation of comedic talent. I can’t wait to bring the world more comedians, experiences, and stories with humor and heart.”

The existing leadership team from Hartbeat Productions and Laugh Out Loud will continue to oversee day-to-day operations. Hart will serve as Chairman of the new company as Thai Randolph, who helped raise the capital and held positions as President & COO of Laugh Out Loud and COO of Hartbeat Productions, is now CEO of HARTBEAT. Hartbeat Productions’ Bryan Smiley will move to President & Chief Content Officer, as  Laugh Out Loud’s Jeff Clanagan becomes President & Chief Distribution Officer.  HartBeat Productions co-founder Leland Wigington will move to lead a new production banner under HARTBEAT.

HARTBEAT operates under three divisions:

  • HARTBEAT Studios, which will be led by Smiley, will finance, develop and produce film, TV,  content at the intersection of comedy and culture

  • HARTBEAT Media, led by Clanagan, plans to connect with consumers around the world through events, gaming, music publishing, Web3 initiatives, and an expansive distribution network

  • PULSE, the company’s branded entertainment studio, is going to serve as a creative and cultural consultancy to brands such as P&G, Lyft, Sam’s Club, Chase, and Verizon.

Kevin Hart Merges Laugh Out Loud And Hartbeat Productions to Form HARTBEAT, Raises $100M Investment

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