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Sony Starts Digital Studio
Sony has started a studio called Deca to identify, develop, finance, market, and distribute new media content on various platforms, reports Online Media Daily. The division/entity received $5 million in outside funding. It's unclear why Sony sought outside money.
Deca is one of a number of such ventures (name, key founder and key financing, per the article):
Deca - Sony Pictures - Mayfield Fund, General Catalyst Partners, and Atomico Investments (started by Skype and Joost co-founder Niklas Zennstrom)
Vuguru - Michael Eisner (former head of Disney)
FunnyOrDie.com - Will Ferrell - Sequoia Capital (large VC)
60Frames Entertainment - United Talent Agency (UTA) and Spot Runner (digital agency partly owned by WPP Group, huge ad agency conglomerate)
Worldwide Biggies - Albie Hecht (producer) - NBC Universal
BermanBraun - Gail Berman (former Paramount Pictures president) and Lloyd Braun (former Yahoo Media Group head) (both are experienced TV execs)
Unclear whether any of them will be able to bridge the gap between user generated content (UGC) and Hollywood, and whether they can make a lot of money doing so.