Summary:

Thought there was no money in producing original content for YouTube’s audience? The folks at Bedrocket Entertainment beg to differ — and just invested in What’s Trending.

Shira Lazar on set during a "Whats Trending" rehearsal.

Shira Lazar’s What’s Trending, the daily pop culture live show on YouTube,has raised funding from Bedrocket Entertainment, the digital entertainment company headed by TV veteran Brian Bedol and co-founded by Huffington Post co-founder Ken Lerer. The amount of funding wasn’t disclosed, but we’ve heard that it’s a seven-figure number.

What’s Trending wants to use the new cash infusion to scale its production and invest in ad sales and multi-platform distribution. The funding comes as a kind of validation that What’s Trending’s YouTube strategy is working. What’s Trending originally launched in 2011 as a web format for CBS, but severed ties with the network soon after and briefly tried its luck as a weekly pop culture show online, only to turn into a daily YouTube format a year ago.

The funding announcement comes just a day after news broke that Fullscreen Networks has raised an undisclosed amount from the Chernin Group, Comcast Ventures and WPP, and adds to a number of funding announcements for YouTube-based businesses in recent months. Which goes to show that — despite all the recent talk to the contrary — at least investors still think there’s money in producing content for YouTube.

Speaking of which: Bedrocket’s Lerer came to our recent paidContent Live conference to share his thoughts about investing in digital media. Check out the video below:

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