Jeffrey Katzenberg is looking to raise $2B for a new video startup
As tech giants like Apple and Facebook put together to spend billions of on motion pictures and TV, longtime Hollywood govt Jeffrey Katzenberg is looking to write some massive checks for unique content material, too.
Katzenberg started his profession at Paramount Pictures (the place he labored on Star Trek: The Motion Picture), however is greatest recognized for working Disney’s movement image division in the course of the interval within the late 1980s and early 1990s that noticed the discharge of classics like The Little Mermaid and Beauty and the Beast, after which for founding DreamWorks and main DreamWorks Animation, which was acquired final 12 months by NBCUniversal.
Katzenberg instructed The New York Times that he’s constructing a new firm that may develop high-quality, short-form video video for smartphones and tablets. The title of the corporate is WndrCo, whose sparse web site presently describes it as a new media and technology company that’s primarily based in Los Angeles and San Francisco.
Apparently Katzenberg is looking to raise $2 billion for the corporate (which he admits is a high bar), and he’s had conferences with everybody from Apple to Disney to Google.
With all of the spending that he’s hoping to do to create new content material, Katzenberg stated it’s critically vital to personal the distribution platform as nicely: Content is the king maker, it’s not the king. The king is the platform. HBO is the king. Netflix is the king. Spotify is the king.
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