Marking a rare foray into the world of film and media, Sequoia Capital has led a $100 million investment into Mubi, the London-based indie streaming service. This marks Sequoia’s first major investment in a European streaming company and its most significant bet on the entertainment sector in recent years. This round values the company at $1 billion, making it a unicorn. Known for backing tech giants like Google, YouTube, and Apple, Sequoia is now betting on the global demand for art house cinema and highbrow content, an unusual pivot for the venture giant.
Sequoia now joins a notable list of existing backers, including Summit Partners and Chinese billionaire Zhang Xin’s Closer Media, which invested last year. Zhang Xin, a prominent real estate mogul and co-founder of SOHO China, brings capital and strategic connections in Asia’s rapidly growing film market. Xin also holds a board seat at the company.
The investment from Sequoia will enable Mubi to scale further, building out its global distribution network and investing in a robust pipeline of original and acquired films. With over 400 employees and offices in 15 countries, Mubi aims to deepen its cinematic footprint.
The company has recently expanded its presence in Latin America and Italy, launching localised content and partnerships with local filmmakers. It plans to release several high-profile films this year, including its first original production, The Mastermind by director Kelly Reichardt, alongside La Grazia by Paolo Sorrentino and Father, Mother, Sister, Brother by Jim Jarmusch. Mubi’s move into original production signals a shift from being a curator and distributor to a full-fledged studio, with ambitions to rival established indie powerhouses like A24 and Neon.
From niche platform to global film powerhouse
Founded in 2007 by Turkish entrepreneur Efe Cakarel, a former investment banker and tech entrepreneur, Mubi has transformed from a niche indie film streaming platform into a full-fledged Hollywood player. Cakarel launched Mubi after frustration with the lack of online access to international cinema—a problem he experienced while trying to stream Wong Kar-wai’s In the Mood for Love in Tokyo.
The platform, which now boasts 20 million registered users globally, curates a rotating selection of international and independent films. Its signature “Film of the Day” model, where one new film is added daily and available for just 30 days, has created a sense of urgency and exclusivity, driving engagement and subscriber loyalty. What sets Mubi apart is its blend of streaming with traditional film distribution: the company releases films in cinemas across the UK, US, Canada, Germany, Latin America, and now Italy.
Beyond curation, Mubi has been moving aggressively into production and acquisition. It recently stunned the film world by outbidding Apple and Netflix for the Cannes buzz title Die, My Love, a $24 million acquisition starring Jennifer Lawrence. This was the biggest deal to emerge from the festival, signalling Mubi’s ambition to be more than just a boutique streamer. Mubi’s recent acquisitions include The Match Factory, a Berlin-based sales and production company, and a majority stake in Benelux distributor Cinéart, further solidifying its position as a vertically integrated film company.
Industry challenges: A box office in flux
Mubi’s ascent comes at a time when the traditional film industry is facing considerable headwinds. The box office continues to struggle post-pandemic, and streaming platforms are recalibrating content spending. For indie films, finding an audience in a market dominated by franchise blockbusters has become increasingly difficult.
But Mubi is banking on data that shows persistent demand for quality indie content: this year, seven of the Best Picture Oscar nominees were independent films, including Anora, The Brutalist, and The Substance, which was acquired and released by Mubi, grossing $84 million globally. Mubi’s hybrid model, releasing films in cinemas and online, has helped it capture box office revenue and streaming subscriptions. This strategy is increasingly seen as a best practice for indie distributors.
Our thoughts: a bet on taste, not algorithms
In an age where data-driven algorithms and cost-cutting lead mainstream platforms, Mubi’s success is refreshing. Its curated, director-led approach has turned what was once a niche subscription service into a global tastemaker. The company is proving that audiences are still willing to pay for thoughtful content, if it’s marketed right and made accessible. Mubi’s “MUBI GO” program, which offers subscribers weekly cinema tickets to curated films, has been a hit in the UK and US, further blurring the lines between streaming and theatrical experiences and fostering a loyal community of cinephiles.
Sequoia’s investment is a vote of confidence not only in Mubi but in the broader indie film ecosystem. It reflects a belief that the next frontier in content is not necessarily scale for scale’s sake, but depth, diversity, and cultural resonance. With fresh capital, an ambitious slate, and a rising reputation, Mubi could very well become the A24 of the streaming world: thoughtful, bold, and increasingly mainstream.
