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Thursday, April 17, 2008

$5 Million to Lonelygirl15 creators: What it means

People who invest in digital media and Internet video content have one belief: that creatives are gonna find a way to produce really compelling content that attracts big audiences much more cheaply than the studios. When you've attracted a big audience, advertising dollars will follow.

That has been the thinking behind Vuguru, 60Frames, MyDamnChannel, FunnyOrDie, and now, EQAL, a micro-studio formed by the guys behind the lonelygirl15 series and KateModern.

EQAL just raised $5 million from Spark Capital in Boston; Marc Andreessen, co-founder of Netscape; and Ron Conway, one of the original investors behind Google. Here's the Wall Street Journal coverage ... the NewTeeVee story .... and TechCrunch.

From Rebecca Buckman's piece in the Journal:

    Todd Dagres, a partner at Spark Capital, the Boston-based firm that led EQAL's round of financing, said the studio understands that "the Web is not TV, and you can't advertise like you do on TV."

    Instead, EQAL, formerly known as LG15 Studios and led by Chief Executive Miles Beckett and President Greg Goodfried, plans to weave advertising into the content of their shows, Mr. Dagres said, and also to interact with its community of viewers.

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