FUBU Studios announces $450 million partnership to champion diverse voices in entertainment

BY Preta Peace Namasaba May 22, 2024 9:24 AM EDT
Daymond John (left) is the founder of fashion brand FUBU, which has holdings in entertainment production too.

FUBU Studios has formed a $450 million, 30-picture partnership with Pantheum Studios, a subsidiary of Euldora Financial. The three-year deal aims to highlight diverse voices and perspectives, push creative boundaries, and inspire audiences worldwide. It brings together industry leaders from entertainment, human resources, and finance.

“Partnering with Euldora Financial and Pantheum Studios is a tremendous opportunity for For Us By Us Studios. We are thrilled to bring our diverse perspectives and unwavering commitment to authenticity to this collaborative venture. Collectively, we will create groundbreaking content that celebrates inclusivity and resonates with audiences worldwide,” J. Alexander Martin, CEO of FUBU Studios said about the partnership.

The partnership presents a significant opportunity for FUBU Studios to expand into the film industry and create impactful content that resonates with global audiences. While Euldora Financial specializes in strategic investments in the entertainment industry, offering lucrative film financing and asset management opportunities, Pantheum Studios produces films and creates cinematic experiences. This collaboration signifies the parties’ shared commitment to championing diversity, excellence, and innovation in entertainment production. Together, they intend to shape the future of entertainment production and inspire audiences.

The entertainment industry still struggles with the representation and inclusion of diverse voices. According to McKinsey & Co., the television industry could generate an additional $10 billion in annual revenue by featuring more stories led by Black characters and consistently supporting Black creators. FUBU’s $450 million partnership has the potential to significantly improve the experience of Black professionals working in the entertainment industry.

FUBU was established in 1992 by J. Alexander Martin, Daymond John, Keith Perrin, and Carlton Brown. It is one of the most successful urban fashion brands in history. FUBU gained popularity in the street-wear scene during the 1990s and achieved worldwide recognition by the early 2000s. At its peak in 1998, FUBU reached $350 million in annual sales and had an estimated $6 billion by 2004. The brand is renowned for its bold designs and commitment to diversity. Even after three decades, it continues to push the boundaries of creativity and self-expression.

“I found a lot of examples of people who harness the power of togetherness, the power of respecting each other and coming together for a common goal. Again, with FUBU and how we have grown from selling a hat to over $6 billion in sales, countless awards, and being in museums and history books. It’s like, who got us here? The people got us. The culture that is here, us coming together or people supporting each other, and us supporting each other, all you guys got us here, and that’s really what the book’s about,” Martin explained the importance of community.

In recent years, the FUBU brand has expanded, with each founder branching out to start other ventures. Daymond John features on ABC’s “Shark Tank,” while Keith C. Perrin runs FUBU Radio. Carlton Brown is in charge of HotelFUBU and FUBUvillage, and J. Alexander Martin is the CEO and co-founder of the FUBU Network. FUBU Studios creates films across diverse genres, such as scripted, reality, documentaries, and music shows, that resonate with the African American consumer.