EXCLUSIVE: The Asylum, whose roster of film and TV productions includes Sharknado, Black Summer and Z Nation, has sold rights to its library to MEP Capital.
The companies describe the transaction as a strategic partnership aimed at fueling The Asylum’s output while also maximizing the value of the library of more than 300 titles. The Asylum opened its doors in 1997.
“With MEP’s capital and its enthusiasm for the exploding global VOD market, The Asylum looks to take its high-concept, over-the-top brand to the next level of production and distribution,” said Asylum partner David Rimawi.
The investment is the latest in a series of investments in the film and TV IP/rights by MEP.
“The rise of digital video on-demand consumption has given tremendous uplift and stability to the value of film & TV content libraries” said Jameson Latko of MEP Capital. “The Asylum team has built a timeless, well-known brand and, notably, develops and owns all IP for its content. The combination of brand popularity and IP ownership is an impressive outlier across the Hollywood production & distribution landscape. We are thrilled to work closely with The Asylum team to help continue their long and successful track record.”
The Asylum finances and produces 25 releases a year. It has teamed with distributors and networks including Netflix, Tubi, Syfy, Lifetime, Ion Television, Animal Planet, Hallmark Channel, Sony Television, BET, and Universal Television. The company has also branched into the FAST sector, drawing more than 2 million hours of monthly viewing to The Asylum Movie Channel.
As it continues to identify potential investment opportunities across film & TV, music, gaming, live events, sports and digital media, MEP last year also launched a film and TV distribution shingle, West Side Pictures. Run by former Screen Media chief David Fannon, the outfit specializes in handling vintage film and TV titles.
