BROADBAND BREAKFAST INSIGHT: With Jeffrey Katzenberg getting into the game, we now see a multitude of video entities and many over-the-top outfits promoting an array of content offerings. Katzenberg's take? Short-form TV. Let a thousand flowers bloom!
Katzenberg’s NewTV Video Startup Raises $800 Million, from Bloomberg
Hollywood mogul Jeffrey Katzenberg has secured about $800 million in financing for his video startup NewTV, which the company will use to fund high-end TV series that have YouTube-length episodes, according to people with knowledge of the matter.
NewTV will use the money to finance shows that are roughly the duration of a typical YouTube clip, but at a cost more on a par with a Netflix Inc. series. Each NewTV series will cost about $5 million to $6 million per hour, the people said, but individual episodes won’t run much longer than 15 minutes.
(Photo of Jeffrey Katzenberg talking at the 2014 World Travel & Tourism Council's Global Summit in Hainan, China by World Travel & Tourism Council used with permission.)