Web videos are becoming extremely influential and is changing the lives of those who benefit from instant traction.  And major media corporations want in.

CBS Corporation (NYSE:CBS) was impressed by the success of video viral hits LonelyGirl15 and KateModern. This made CBS decide to put together a production deal Greg Goodfried and Miles Beckett, producers of both web series shows.  Greg and Miles started a production company called EQAL which raised $5 million in Series A last month from Spark Capital, Marc Andreessen, Ron Conway, Georgies Harik, and Conrad Riggs.  

CBS will even get “first-look” rights for projects created by EQAL.  CBS acquired Wallstrip, a comedy finance news program last year and now that team runs the in-house web production studio.

EQAL is profitable because of web video sponsorship.  The movie Jumper sponsored some of the shows produced by EQAL.  Neutrogena was able to plug in one of the shows by having a scientist employee make a cameo.  

Information Source:
[1] Silicon Alley Insider: CBS Inks ‘First Look’ Deal With Lonelygirl Dudes by Michael Learmonth