StreamElements has continued to grow as one of the most major livestream support and data groups around, aiding creators in boosting their presence and growing their channels throughout Twitch and other livestream platforms. After a successful funding round, the company is set to expand and has done so with the acquisition of gaming-centered YouTube multi-channel network (MCN) Paragon.
StreamElements announced the acquisition of Paragon in a press release on October 1, 2021. Paragon is a group that helps digital content creators and creator collectives strengthen their channels and careers by way of partnership services including content strategy, channel management, rights management, support, and optimization. The MCN has fostered a hundreds-strong roster of clients featuring notable influencers such as SypherPK, xNestorio, and Kiingtong.
As Paragon becomes part of StreamElements, several changes will be coming, including a change in the partnership model that will cease taking of commissions from UGC, transactional, or standard ad revenue streams, which has been a common practice among MCN models. Members being brought over to StreamElements’ purview will also have access to its broadcasting monetization and audience engagement technology and support.
StreamElements CEO Gil Hirsch was thrilled to speak to the partnership, not only happy to have Paragon under the company’s umbrella, but also to make a change in the usual MCN model to keep partnerships creator-focused.
“One of our goals is to grow our footprint in the Video on Demand space by introducing new features alongside our renowned community support,” said Hirsch. “By making Paragon part of the StreamElements family, we are able to directly help many popular YouTube creators evolve their offerings and increase their audiences even more. This includes not taking a cut of their commissions from standard ad revenue which ties in with our mission of being a creator-first company.”
This transaction was heavily made possible by StreamElements’ recent round of funding, which brought in $100 million to help the company towards continual livestream platform support growth and VOD tool development. The company has also continued to provide always-interesting analytics from the livestream space via the State of the Stream presentations in conjunction with its analytics partner, Rainmaker.gg.
As StreamElements goes through with the Paragon acquisition, the livestreaming and creator support platform continues to grow in major ways. This is likely not the last major move by StreamElements, but it is a notable one as the company broadens its efforts to aid and support livestreamers throughout various platforms and scenes.