A24's Valuation Surges to $3.5 Billion Amid Partnerships with Luxury Brands and Google

A24's valuation has more than doubled in two years, reaching $3.5 billion after Thrive Capital led a funding round that valued the movie studio at about $3.5 billion in 2024.

Josh Kushner, founder and CEO of Thrive Capital, joined A24's board after the funding round and saw potential for the studio to combine 'extraordinary talent and creativity with innovation in its business model and technology,' according to a statement from Thrive at the time.

A24 has since seen significant growth, including the success of films like Backrooms, which grossed about $400 million worldwide, and Marty Supreme, which earned $191 million worldwide and nine Oscar nominations. The studio's revenue has more than doubled over the past two years, according to the Wall Street Journal.

A24 has also expanded its reach beyond film, partnering with luxury brands like Dior on a creative partnership that spans film, theater, and live events, as well as with Google through an A.I. research partnership with DeepMind, which valued at roughly $75 million.

The deal between A24 and Google drew immediate backlash on social media due to concerns over the displacement of creative labor by A.I., but A24 spokesperson Sophia Shin responded by casting the partnership as a way for the studio to dictate which tools get built for artists rather than having those tools handed to them.