Versant Media wants to sweat the short stuff. The media company, which owns MS NOW and CNBC and was spun off from NBCUniversal earlier this year, has taken part in a Series A funding round that will establish a partnership with GammaTime, a microdrama streaming platform. Under terms of the agreement, GammaTime will work with Versant to develop a slate of originals with top showrunners and also utilize content from part of the company’s entertainment library.
“Versant’s investment is a turning point for GammaTime and the category,” said Bill Block, founder and CEO of GammaTime. “We’re pairing unparalleled audience scale and engagement with premium marketing. We’re building originals at scale, and Versant gives us the IP, brand equity, and creative DNA to do it right.” Block, who got his start in the entertainment business as an agent at ICM, is a former president of Artisan Entertainment and former CEO of Miramax.
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Versant will become a minority, non-controlling investor in the company.
Microdramas are growing in importance to the media sector, with advertisers ranging from Procter & Gamble to JCPenney growing more interested in the quick-hit format. Several companies have begun to supply bite-sized dramas and serials for venues like TikTok or Meta’s Reels. In China, the content capsules have already proven quite popular. Microdramas could generate as much as $11 billion in 2026, according to estimates from Omdia, a London consultancy.
Versant’s investment in GammaTime follows a $14 million seed round in October 2025, which was
led by vgames and Pitango, both of whom also participated in the Series A, alongside Alexis
Ohanian, Kris Jenner, Kim Kardashian, and Traverse Ventures. GammaTime has since its launch debuted
microdramas centerd around romance, true crime and fantasy, The company has also struck a deal with the National Enquirer to utilize its archives for original content.
“GammaTime is reimagining short-form storytelling for a new generation of viewers,” said Mark
Lazarus, CEO of Versant, in a statement. “Their mobile-first approach and focus on original content make this a natural partnership for Versant as we continue to extend our iconic brands, deep content library
and storytelling.”
Versant is working to expand its revenue beyond the legacy cable networks. under its umbrella. In recent months, the company has acquired assets including FreeTV Networks, a portfolio of FAST channels and free over-the-air outlets, and StockStory, an AI financial-data analysis platform it intends to use with CNBC. The company intends to launch new streaming products tied to MS NOW and other parts of its operations.