Entertainment producers like 21st Century Fox and Warner Bros have reportedly supplied $200m of an $800m round that will support high-budget, short-form video, as content continues to draw in big bucks.
US-based video production startup NewTV has raised about $800m in financing from investors including several media and entertainment groups, Bloomberg reported on Friday, illustrating once again the pull of video content in the tech sphere right now.
NewTV is looking to develop video content with episodes divided into a length similar to that of a YouTube clip, but with high-level production values comparable to professionally made television shows.
The company was founded by Jeffrey Katzenberg, formerly the chairman of film producers Paramount and Walt Disney Studios, and a co-founder of multimedia studio Dreamworks with Steven Spielberg and David Geffen. Katzenberg also launched a new media and technology holding company called WndrCo in 2016.
The corporate investors in question, which include 21st Century Fox and Warner Bros, are providing about $200m of the funding, people with knowledge of the matter told Bloomberg. WndrCo supplied an undisclosed sum that Bloomberg reports represents…
