European YouTube multi-channel network Mediakraft Networks just raised $23 million in a second round of financing. If you live and/or make videos in North America and primarily generate revenue in the online video industry from domestic endeavors, this news will probably have a marginable, if not negligible impact on your business. If, however, you live and/or make videos in Central Europe and primarily generate revenue in the online video industry from local endeavors, this is big news.

The German self-described “online TV broadcaster” is headquarted in Munich, has offices in Cologne, Berlin, Hamburg, Amsterdam, Warsaw, and Istanbul, and boasts more than 36 million subscribers across more than 2,000 channels, which generate a combined 350 million monthly views on platforms like YouTube, Yahoo, and ClipFish (which is a German online video destination). Those numbers are huge (by comparison, when Fullscreen closed its big $30 million funding round back in April 2013, the American MCN had over 5,000 channels, 100 million subscribers, and 2.2 billion monthly views), but it’s still a sizable footprint. That’s especially true once you consider the most popular channels in Mediakraft’s network feature German-speaking personalities, gamers, and programming, and that Germany has roughly one-fourth the population of the US.

Mediakraft plans to use the cash from the funding round led by “pan-European venture capital investor” Iris Capital to beef up its infrastructure and content development.  “For our brand customers, our artists and their channels, this is great news. They will benefit from even better production capabilities and marketing power to crank up awareness and maximize reach” said President of Mediakraft Networks, Christoph Krachten in the release. “Mediakraft is the home of online video’s top digital stars, channels and content. We are dedicated to developing talent, creating premium programming, and building lasting brand-relationships with engaged audiences.”

The news comes the same week that UK-based MCN Rightster announced its multimillion-dollar acquisition of fellow UK-based MCNs Base79 and ViralSpiral. The online video industry is definitely heating up across the pond.

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