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Once solely focused on financing for SaaS companies, Pipe is now looking to other verticals with different financing needs and cost structures. By purchasing Purely Capital, Pipe has now created a new media and entertainment division on its platform, giving independent distributors the opportunity to trade their revenue streams in the same way a SaaS company could.
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“There was $220 billion spent on streaming content in 2020, and $250 billion in 2021,” Hurst said. “That’s huge year-over-year growth. And independently produced content versus major film studios makes up over 65% of that spent, meaning it’s the majority of the market. This is a vertical that is incredibly interesting to, and a gigantic opportunity for, us.”
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