Non-Fiction Studio XTR Secures $17.5M Investment From Ex-Zappos CEO Tony Hsieh To Bolster Doc Plans

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XTR, the non-fiction studio behind films including wrestling doc You Cannot Kill David Arquette and the upcoming Magic Johnson feature doc, has secured a multi-million dollar investment from former Zappos CEO Tony Hsieh

“The thing that has been constant throughout the pandemic is that documentaries are still in production, still being finished, they’re what people are watching and so I think from an industry standpoint, documentaries are not only going strong, but they’re actually stronger than they’ve ever been,” Mooser told Deadline.

Most doc films are funded piecemeal but XTR hopes that by using its brand, it will help a number of projects. Head of film Kathryn Everett said, “In terms of raising financing for more of a slate than opposed to individual films… we were really hoping that XTR becomes synonymous with incredible nonfiction content and the best documentary films, and so packaging our films as an XTR slate and putting everything under this XTR banner is definitely strategic.

“There were very few homes for documentaries over five years ago and that all changed as streaming started to make original documentaries. But up until that point, there weren’t a lot of homes, so when you look back into the kind of history of great documentaries, most documentaries are available to license… and it is not easy to find those great documentaries as much as you would think it would be.

 

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