Web videos are becoming extremely influential and is changing the lives of those who benefit from instant traction. Â 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. Â 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. Â
CBS will even get “first-look” rights for projects created by EQAL. Â 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. Â The movie Jumper sponsored some of the shows produced by EQAL. Â Neutrogena was able to plug in one of the shows by having a scientist employee make a cameo.Â Â
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