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The celebrated YouTube transmission Dude Perfect announced Tuesday it landed an finance of much than $100 cardinal from backstage finance patient Highmount Capital arsenic nan group looks to grow into a larger media company.
Dude Perfect began successful April 2009 arsenic a YouTube transmission started by 5 roommates astatine Texas A&M University that featured them performing instrumentality hoops shots. In nan years since, Coby and Cory Cotton, Tyler Toney, Cody Jones and Garrett Hilbert person expanded Dude Perfect into 1 of nan astir celebrated channels connected YouTube, pinch much than 60 cardinal subscribers to their main transmission connected nan level that features sports stunts and comedy.
Dude Perfect has entered into marketing partnerships pinch clients specified arsenic Walmart, Nike, nan U.S. Olympic Team, Southwest Airlines and more, according to nan group's website. It's besides gone connected nationwide tours and is readying to adhd a unit shop astatine its 3rd office that will complement an online store.
"Our ngo astatine Highmount is to put successful transformational companies pinch awesome founders who are building scalable and influential platforms," Highmount co-founder and wide partner Jason Illian wrote successful a station announcing nan investment. "While it wasn't evident astatine first, Dude Perfect is transforming from YouTubers to a media powerhouse. As we dug in, we had to shed immoderate preconceived notions and peel backmost layers of accepted reasoning to get to nan truth."
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YouTube's Dude Perfect landed an finance of much than $100 cardinal from Highmount Capital. (Noam Galai/FilmMagic for YouTube / Getty Images)
Illian explained that successful Highmount's investigation into Dude Perfect's business model, it recovered nan full addressable marketplace for nan creator economy is adjacent to $250 cardinal and is projected to astir double to astir $480 cardinal successful nan adjacent 2 to 3 years, according to Goldman Sachs.
He added that astir one-third of each adults, and astir half of Gen Z and millennials, person their purchasing decisions wished by influencers, according to LInktree, and noted an Oxford Economics study that recovered YouTube's imaginative ecosystem contributes $35 cardinal to U.S. GDP and supports complete 400,000 full-time balanced jobs successful nan U.S.
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Cory Cotton of Dude Perfect astatine nan taping of Nickelodeon's Superstar Slime Showdown astatine nan Super Bowl successful Houston. (Kevin Winter/Getty Images for Nickelodeon / Getty Images)
"We didn't conscionable put successful nan Dudes; we are partnering pinch them. Highmount is investing 9-figures of capital truthful that, together pinch nan Dudes, we tin build a world-class guidance team, capitalize connected existent and early opportunities and, astir importantly, thief them prosecute pinch their fans successful caller magical ways. We are present to service and thief them steward their increasing level successful ways that toggle shape culture," Illian added.
The Wall Street Journal reported successful February 2023 that Dude Perfect had gross of astir $25 cardinal successful 2022, up from $20 cardinal successful 2021, and that overmuch of that gross came from nan group's ventures extracurricular of YouTube, specified arsenic their unrecorded performances and merchandise sales.
YouTube Creators Dude Perfect onstage astatine YouTube Brandcast 2019 astatine Radio City Music Hall May 02, 2019, successful New York City. (Taylor Hill/FilmMagic for YouTube / Getty Images)
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The Journal's study noted that nan group is readying a taxable park, which has a moving sanction of Dude Perfect World, which is expected to costs astatine slightest $100 cardinal and return complete 2 years to build.
