Good morning. It’s Tuesday October 13, 2015, and this is your first early morning digital briefing.
Automotive multi-channel network GarageMonkey has entered into a financial partnership with financial services firm Harper. (Harper’s area of focus is YouTube and video content-creators.) Under the deal, Harper will extend credit to any GarageMonkey YouTube channel partner on the basis of the channel’s past earnings. Harper will then set repayment terms on the basis of future YouTube earnings. Cynopsis Digital spoke with GarageMonkey co-founder Joe Franzetta, who explained the reasoning behind the partnership. “A lot of [digital] creators…are trying to build their businesses, but they’re hamstrung by the availability of financing,” he said.