WarnerMedia and Discovery will be under pressure to divest some assets, especially outside the U.S., to secure approval for the $43 billion spinoff pact with AT&T that will bring WarnerMedia and Discovery together. AT&T’s eagerness to move on from its swan dive into the entertainment arena could make the company a willing seller of discrete assets in order to get the complicated transaction over the finish line.
Source: Biden’s Antitrust Squeeze May Grease the Wheels for TV Deals (Column)
Podimo – which offers podcasters the choice of exclusive and non-exclusive distribution – intends to put this latest capital influx towards expanding its market presence, founder and CEO Morten Strunge indicated in a statement. Moreover, Strunge, the founder of e-book and audiobook subscription service Mofibo, likewise emphasized his ambitious vision for (non-music) audio entertainment’s growth potential.
Source: Podcast and Audiobook Platform Podimo Completes $78M Series B
According to the company’s annual report, which was filed with the SEC Wednesday afternoon, Disney plans to spend approximately $33 billion on content over the next year, inclusive of its streaming programming, linear programming, and sports content.
Epic Games, the maker of hit video game Fortnite and Unreal Engine, has acquired Harmonix, creator of the popular Rock Band and Dance Central franchises for an undisclosed sum. The buyout of the Boston-based music-related game studio Harmonix follows a period of successful fraternization with the music industry for Epic.
Chinese technology giant NetEase Inc. has confirmed that its subsidiary Cloud Village – which operates music streaming service NetEase Cloud Music – will list on the Main Board of the Hong Kong Stock Exchange on December 2 under the symbol “9899.HK.” A pre-IPO prospectus reveals three “cornerstone investors” are backing Cloud Village’s listing: current parent company NetEase, Orbis Investment Management Limited, and last – but definitely not least – Sony Music Entertainment.
The round was led by Octopus Ventures, with participation from existing management and shareholders. Synchtank’s latest investment round follows a total of $750,000 seed funding from management, shareholders, and Juno Capital Partners in 2020, bringing the total raised in the past year to $6.6 million.
Source: Synchtank raises $5.8m in Series A funding round led by Octopus Ventures
Aimi says that its platform offers listeners “endless, bespoke experiences” created by DJs and producers “in collaboration” with the platform’s artificial intelligence. Following a limited free period this fall, the premium service of Aimi+ will shift to a paid model, using blockchain technology and smart contracts to administer royalties and revenue to artists using the platform.
Source: AI-powered music platform Aimi raises $20m in Series B funding round
Royal is a blockchain startup trying to bring about such a change. Launched this summer by Justin Blau—better known by his stage name DJ 3lau—Royal helps artists create and sell NFTs, but also offers a new business model where fans can invest in an artist’s work and receive royalties in return.
In today’s complex content ecosystem, studios are spending more and more to lure general audiences to theaters with blockbuster franchise films while the streamers are primarily trying to keep their fragmented audiences glued to their services by offering niche content. Teen comedies might not have enough consistent commercial potential for the studios, but Mr. Garelick thought that if he could offer a consistent flow of films, surely a streaming service would bite.
Source: How Do You Make Teen Comedies Today? Buy a High School.
“Fresh Kills” will have nontraditional financing; the project intends to be the first feature film to be funded and traded by a global group of fan investors. It will be financed by an offering on the Upstream Exchange, which on Thursday announced a $3.5 million IPO.
Source: Annabella Sciorra to Star in Crime Drama ‘Fresh Kills’ (EXCLUSIVE)