UTA and advertising agency Spot Runner have teamed up to launch 60Frames Entertainment, a company that will finance and syndicate professionally-produced online content. UTA’s Brent Weinstein will helm.
Take that, YouTube.
LOS ANGELES (July 11, 2007) — 60Frames Entertainment, a new company dedicated to the financing, ad sales and syndication of professionally-produced online content, launched today. 60Frames provides professional content creators access to financing, speed to market, greater ownership over their intellectual property and participation in all revenue streams including advertising. The company will also collaborate with advertisers to create immersive online branding to better connect their company and products to targeted audiences. Consumers will be able to view 60Frames’ original programming through top video portals, social network Web sites, and mobile and emerging broadband outlets. 60Frames will be working with artists that include visionary filmmakers Joel and Ethan Coen, who will create content for 60Frames, as well as serve on a Creative Advisory Board.
60Frames has raised $3.5 million in funding. It was incubated by leading Hollywood talent and literary agency United Talent Agency (UTA) and innovative Internet-based advertising agency Spot Runner. The company was formed in response to the creative and advertising communities’ need to optimize the financial and creative potential of digital content distributed through the Internet. It is backed by prominent institutional and individual investors, including Tudor Investment Corporation and the Pilot Group co-founded by Robert Pittman.
Brent Weinstein, a veteran digital entertainment executive, has been named CEO of 60Frames. He is transitioning to this new role from UTA, where he previously spearheaded UTA’s Digital Media Department and the agency’s new UTA Online division. “The Internet is radically transforming entertainment and advertising, and 60Frames is in the position to be at the forefront of this revolution,” said Weinstein. “In the same way that television developed iconic brands in the last century, 60Frames will help professional artists to create new formats, characters and stories that will be the brands of the 21st century.”
“60Frames was born out of the belief that the bar for quality content produced on the Web will rise,” said Jeremy Zimmer, board member and partner at UTA. “60Frames is the direct response to the growing interest in the Internet by professional artists and their requirement that it be as business-friendly as possible.”
Spot Runner’s expertise and innovations in advertising and technology give 60Frames an unprecedented advantage in developing interactive marketing around groundbreaking online content. Spot Runner will work with 60Frames to build advertising models, formats and technologies. In addition, Spot Runner’s sales force will represent 60Frames in creating relationships with leading marketers and selling advertising inventory.
“Many of Spot Runner’s clients want to participate in online entertainment but are not comfortable with the brand risks associated with user-generated content,” said Nick Grouf, CEO of Spot Runner. “60Frames provides companies with an ideal way to connect with their customers through original, top-notch content created by leading Hollywood talent. Spot Runner’s mission is to transform the way advertising is created, targeted, and bought and sold, and 60Frames is an important step towards achieving this change.”
James J. Pallotta, Tudor Investment Corporation’s vice chairman and director-US Equity Securities Group said, “We saw tremendous synergy between Spot Runner and UTA. We believe that 60Frames will deliver unparalleled opportunities for entertainment professionals looking to monetize, promote and distribute their original content online.”
60Frames’ programming will initially focus on short-form comedic productions and will expand to include dramatic, informative, educational and other types of online video. Additional announcements concerning artists, content, advertising and distribution partners will be made shortly.