Hart's Heartbeat Raises $100M

A story about Kevin Hart's production company Heartbeat and its massive valuation.

"Kevin Hart has something called Heartbeat. He raised $100 million from private equity for 15% of the company - $650 million valuation. 50% of their revenue comes from the studio arm where they produce shows for Peacock and Netflix.

They make movies and shows, and basically what happens is Kevin Hart can walk into 6 studios and say 'It's a movie where me and a tall guy, we're coworkers that don't like each other but then we get trapped in an elevator' and they're like 'love it, we'll take it.'

Then you figure out how much it needs - maybe $100 million to produce this. The production company gets paid millions to produce the movie, there's some margin in that, and then they get some split of the revenue or upside from the project."