Atlanta esports and events startup Cxmmunity snags investment to grow
Atlanta-based Cxmmunity Media wants to be the largest Black-owned entertainment media company in the world. A hefty investment from a live event heavyweight could help it get there.
Live Nation Urban, a division under the well-known Live Nation ticket promoter and venue operator, has announced a six-figure investment in Cxmmunity as part of its capital investment fund supporting Black entrepreneurs in entertainment. The investment will enable Cxmmunity, pronounced “community,” to expand its live events and media properties.
Cxmmunity co-founder and Chief Marketing Officer Chris Peay said the two organizations share the same goal: to change what Black entertainment looks like in America.
“I think the partnerships that we’ve landed in the past, they were transactional in a way,” Peay said. “In business you expect some transactional relationships. For this one, we serve the exact same purpose.”
Peay declined to comment on the specific investment number.
Founded in 2020, Cxmmunity is a media brand and live events company focused primarily on the gaming, anime and music industries. It produces branded content for companies looking to reach younger generations, as well as plays host to events. Its flagship “Kickback” event, which combines educational panels with gaming tournaments and musical performances, expanded beyond Atlanta for the first time last year.
Cxmmunity also founded and owns the HBCU Esports League, the country’s first and only competitive esports league for historically Black colleges and universities.
Live Nation Urban launched its fund, dubbed Black Lily Capital, earlier this year. Its first investment backed another Atlanta-based music technology company: Breakr.
The relationship between Cxmmunity and Live Nation first came about last November, Peay said. The company’s cofounder and CEO Ryan Johnson was invited to speak on a panel as part of Live Nation Urban’s Lil’ WeezyAna Fest. He and Peay learned that Live Nation Urban wasn’t doing much in the way of media, and they saw an opportunity in helping them scale.
The two organizations bring value to the table, Peay said. Live Nation Urban has access to venues, artists and record labels, as well as decades of experience in hosting live events. Cxmmunity brings expertise in media, advertising and digital storytelling, and can help Live Nation Urban produce content around events.
“[Live Nation Urban] says ‘What do you want to do?’ And we come back with an idea,” Peay said. “They’ll say, ‘Think bigger.’ That’s what you want to hear as an entrepreneur, is that, one, your partners are on the same page, and two, that they can open the floodgates and bring your ideas to life.”
About the Author
Savannah Sicurella is an entertainment business reporter with The Atlanta Journal-Constitution.
