Here Comes The Money – $217 million raised for Online Video in 2008
Every day I see another new online video start-up enter the emerging world of New Media 2.0. It’s no wonder why, as NewTeeVee writes:
“Profits may not have arrived for online video, but venture capitalists are still happy to pick up the bill. More and more U.S.-based, venture-backed online video companies are attracting more and more financing each year, according to Dow Jones VentureSource. Some $460.5 million was invested in such startups in 2007, up from $266.9 million in 2006. And already, in the first quarter of 2008, another $217.3 million rained down on the category.”
But why do most seem like “me too” endeavors? Coming from my experience as a writer and director on Lonelygirl15, and the interactive side of things with OpAphid, I am well aware what a struggle it can be to do something “different” in this business and get people excited about putting money behind it–at least that was the case a little over a year ago.
But perhaps it’s all a matter of timing, because these past few months with REDEARTH88, the ways that it is “different” seem to make it more attractive as an independent online series. Needless to say, it’s definitely an exciting time to be a creator in the online video business.
Read More at NewTeeVee – Exclusive: U.S. Online Video Startups Raised $461M in 2007