NewTV, but same old challenges

Small but perfectly formed

The entrepreneurs behind the imaginatively-named NewTV, Jeffrey Katzenberg and Meg Whitman, will be feeling encouraged by their recent round of investment having closed at $1bn. The service promises entertainment providers an avenue onto the world’s billions of smartphones, being specifically designed for mobile use with short-form series of 10-minute episodes. And it seems they have Hollywood and Wall Street convinced, according to Variety:

“Backers include a who’s who of Hollywood studios: Disney, 21st Century Fox, NBCUniversal, Sony Pictures Entertainment, Viacom, AT&T’s WarnerMedia (formerly Time Warner Inc.), Lionsgate, MGM, ITV and Entertainment One. Tech investors include Chinese internet giant Alibaba Group; strategic investors include VC firm Madrone Capital Partners, which led the round, along with Goldman Sachs, JPMorgan Chase & Co. and John Malone’s Liberty Global. The funding officially closed July 31.”

Encouraging, sure. But will it really be enough for to penetrate an already saturated market where similar offerings have since failed? Securing $1 billion from such famous brands is no mean feat but

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