MOVIECLIPS Secures $3M as Online Video Ads Stabalize as an Industry
Premium online video destination MOVIECLIPS today announced that it raised $3 Million in a series A round of financing. This will capitalize the development of tools that will advance the technology for discovering best movie scenes in a pitch of curated clips.
The line-up of investors include Shasta Ventures and First Round Capital and some angel investors which includes Jeff Clavier of SoftTech VC, Aydin Senkut of Felicis Ventures, Naval Ravikant, Jeff Kearl, Tom McInerney, and former investor Richmond Park Partners.
“We were looking for venture partners that understood both product and the consumer,” said Movieclips Co-Founder Zach James. “We are very pleased to have Shasta, First Round, and our great Angels join us on the mission to delight our users with the best movie moments in the history of cinema.”
With the largest collection of licensed Hollywood movie scenes on the internet, the site assigns up to 1,000 points of relevant data points to every scene, breaking the limits of browsing clips of a single movie with a line of a hundred related clips which are categorized by actor movie, action, mood, setting, theme, director, prop, cinematographer, and many more. Page views have surged by over 200% prior to the launching of the feature.
“The way we’ve collected data and curated the scenes makes browsing through movies more natural and intuitive than ever before,” said Movieclips Co-Founder Richard Raddon, former director of the Los Angeles Film Festival.
“The Internet is the ideal medium to showcase short-form movie clips. Consumers can never get enough of their favorite movies, premium advertisers want to connect with this audience, and movie studios need trusted partners to showcase the best of their libraries,” said Tod Francis, Managing Director of Shasta Ventures. “Movieclips is the destination where this all comes together.”
MOVIECLIPS is also open to clip feeds from third-party developers and websites. For instance, AOL’s Moviefone has delivered to its users “Iconic Horror Scenes” and “Best Break-Ups” content clips.
The funding speaks to the growing interest in video content, and it presents a new method of video advertising, which is a hugely growing sector right now. But while online video advertising is rapidly growing in the US, with a $1.5 billion increase on spending this year, more analysis & metrics is needed around video advertising, as the industry becomes more standardized.
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