Google: In addition, Google has made an investment in A24 - blog

A24, the independent film and television studio known for its auteur-driven projects and cultural cachet, has secured a significant new investment round led by Thrive Capital, a venture capital firm founded by Joshua Kushner. The investment values A24 at approximately $3.5 billion, a 40% increase from its 2022 valuation of $2.5 billion. As part of the deal, Kushner will join A24's board of directors.

In addition to Thrive Capital’s $75 million investment, existing investors also contributed to the round, bringing the total funding to roughly $250 million. This follows a $225 million funding round in 2022. The new capital is expected to support A24’s expansion into higher-budget productions and broader commercial projects, including collaborations with A-list talent and partnerships with major studios such as Amblin Entertainment.

A24 has built a reputation for discovering and supporting emerging filmmakers, with Oscar-winning titles such as Everything Everywhere All at Once and Moonlight contributing to its prestige. The studio has also expanded into television, producing acclaimed series such as and Beef. However, its traditional model of releasing niche, festival-driven films has limited its box office returns, with some projects yielding mixed commercial results.

The studio’s recent slate includes the $70 million-budgeted Civil War, which grossed over $120 million internationally and $68 million domestically. Upcoming projects include The Smashing Machine, a biopic starring Dwayne Johnson and Emily Blunt, and , directed by Spike Lee and starring Denzel Washington.

In addition to Thrive Capital’s investment, Google has also made an investment in A24, further signaling confidence in the studio’s growth trajectory and its evolving role in the entertainment industry.