Light Reading
Mayfield Fund has led a $48.5 million series A financing round in MovieBeam, a leading movies-on-demand service provider

MovieBeam Raises $48.5M

Light Reading
News Wire Feed
Light Reading
2/14/2006
50%
50%

MENLO PARK, Calif. -- Mayfield Fund today announced it has led a $48.5 million series A financing round in MovieBeam, Inc., a leading movies-on-demand service provider. See today's related announcements at www.moviebeam.com.

"Music has led the way to the lifestyle of electronic media consumption, and movies are poised to follow," said Kevin Fong, Mayfield Managing Director and MovieBeam board member. "After an analysis of opportunities in the electronic distribution segment, we chose to invest in MovieBeam because of its unique ability to earn the trust of content creators while simultaneously providing consumers with a convenient, high-quality movie-rental experience. We are delighted that we were able to put together a financing structure that met the needs of all the investors. With its superior service and the support of a constellation of investors, studios and retailers, we believe MovieBeam will quickly emerge as the de facto choice for watching movies at home."

This financing marks the emergence of MovieBeam, Inc. as an independent company, following its incubation by The Walt Disney Company. The service was first unveiled in 2003 to successful trials. Since then, the company has significantly enhanced its service offering. The MovieBeam movies-on-demand service debuts across the country today, providing consumers in 29 major metropolitan areas with instant access to a changing lineup of new releases and popular favorites from virtually every major Hollywood studio. There are always 100 movies instantly available, with up to 10 new titles automatically delivered digitally each week -- including select movies in high definition (HD) -- via MovieBeam's exclusive, low-cost, over-the-air datacasting technology.

In a separate release:

BURBANK, Calif. -- MovieBeam, Inc. today introduced the new MovieBeam System and launched its movies-on-demand service in 29 major metropolitan areas across the U.S., including New York, Los Angeles and Chicago, reaching nearly half of all U.S. households. The MovieBeam movies-on-demand service provides instant access to an ever-changing lineup of new releases and other popular favorites from virtually every major Hollywood studio. There are always 100 movies immediately available, with up to 10 new titles automatically delivered digitally each week -- including select movies in high definition (HD) -- via MovieBeam's exclusive, low-cost over-the-air datacasting technology. The MovieBeam System is composed of: 1) a set-top box that stores, protects and plays movies; 2) a small indoor antenna that receives new movies to automatically refresh the selection; and 3) a simple remote control that facilitates navigation of the intuitive user interface.

MovieBeam, Inc. is a newly formed venture backed by The Walt Disney Company, Cisco Sytems, Intel Corporation (through its leading venture capital arm, Intel Capital), Mayfield Fund, Norwest Venture Partners and VantagePoint Venture Partners (see today's related announcement).

"We have built MovieBeam to directly address what's most important to our target customers: convenience, quality and choice," said Tres Izzard, president and CEO of MovieBeam, Inc. "Our target customers are movie lovers who want a more convenient way to rent the movies they want to watch when they want to watch them and value the overall quality of the experience. MovieBeam provides an attractive alternative to other options -- bringing the sizable selection of the back wall of the video store directly into customers' living rooms. Movies are always available for instant viewing, with no trips to video store, no out-of-stock titles, no damaged discs, no late return fees and no waiting by the mailbox for DVDs."

"MovieBeam, with its easy-to-use service, breakthrough content rights, and low-cost delivery platform, is serving a previously unmet need in the marketplace -- providing consumers with a more convenient, higher-quality movie-rental experience through an unmatched combination of content, technology and relationships," said Gerry Kaufhold, principal analyst, In-Stat. "As a stand-alone company, with a strong investor syndicate, MovieBeam is well-positioned to become an important player in the digital entertainment business by delivering on the promise of on-demand movies."

MovieBeam Inc.

(0)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View
Flash Poll
From The Founder
It's clear to me that the communications industry is divided into two types of people, and only one is living in the real world.
LRTV Documentaries
EE: The Road to 5G

12|16|14   |   16:02   |   (1) comment


Andy Sutton, the principal network architect at UK mobile operator EE, explains how his company is using Wembley stadium as a wireless test bed and how that's helping EE to plan the evolution to 5G.
LRTV Huawei Video Resource Center
Highlights of Huawei's NFV Open Cloud Forum 2014

12|16|14   |     |   (0) comments


Huawei hosted its inaugural NFV Open Cloud Forum during the SDN & OpenFlow World Congress 2014 in Düsseldorf, Germany. The Forum brought together technology thought leaders, senior executives and telecom professionals from global carriers, industry associations, as well as other partner companies in the ecosystem, to exchange views on and collectively explore how ...
LRTV Custom TV
Realizing Operators' Digital Vision

12|16|14   |   5:23   |   (0) comments


Leveraging technology is fundamental to digital transformation but understanding customers and serving them really well is at the heart of digital businesses. TM Forum lists the following as the strategic pillars of the digital business: business agility and rapid innovation, operational agility and effectiveness, IT and data centricity, plus customer centricity. ...
LRTV Documentaries
US Cellular Injects Analytics Into LTE

12|16|14   |   2:57   |   (1) comment


US Cellular's Mario Vela explains how the operator uses analytics for network planning and what comes next as the carrier looks to eke more value out of its metrics.
LRTV Interviews
How Cox Biz Plans to Keep Growing

12|15|14   |     |   (1) comment


Steve Rowley, SVP of Cox Business, details how the third-biggest US MSO intends to boost its revenues to $2 billion and beyond over the rest of the decade
LRTV Huawei Video Resource Center
Interview With Bill Zhang, Director of SoftCOM Product Management, Huawei

12|15|14   |   2:50   |   (0) comments


Bill Zhang elaborated on Huawei's open philosophy in NFV solution development and network architecture design at the SDN & OpenFlow World Congress 2014.
LRTV Huawei Video Resource Center
Event Highlights: Huawei at SDN & OpenFlow World Congress 2014

12|15|14   |   3:43   |   (0) comments


Huawei joined the 2014 SDN & OpenFlow Congress as one of the key sponsors and contributors. At the event, Huawei reinforced the openness and flexibility of its network infrastructure strategies, and provided updates on its SDN and NVF innovations. Through participations at the exhibitions, forums and speeches, Huawei encouraged the industry to "think bigger and ...
LRTV Interviews
How Cable Biz Services Hit $10B Mark

12|12|14   |     |   (1) comment


Cable operators reached $10 billion in annual business services revenues by delving deeper into their vertical markets and expanding beyond the smallest firms.
LRTV Documentaries
Mediacom Aims to Test Connected Tractors

12|11|14   |   05:07   |   (3) comments


Cable business service provider is taking its services to the 'agribusiness' sector in partnership with farm equipment specialist John Deere and is getting involved in Gigabit Cities developments.
LRTV Interviews
TWC Business Looks Beyond $3B

12|10|14   |     |   (0) comments


TWC Business Services chief Phil Meeks explains how his unit has reached $3 billion in annual revenues and what its plans are for next year.
LRTV Documentaries
AT&T's New Security Strategy

12|10|14   |   02:36   |   (1) comment


AT&T's Chief Security Officer Ed Amoroso explains how his company is wrapping virtual security layers around micro network domains.
LRTV Documentaries
2020 Vision: A First View

12|9|14   |   02:25   |   (3) comments


At the 2020 Vision Executive Summit in Iceland, unique Heavy Reading research shows that comms service providers are optimistic about the next five or so years.
Upcoming Live Events
February 10, 2015, Atlanta, GA
April 14, 2015, New York City, NY
May 6, 2015, McCormick Convention Center, Chicago, IL
May 13-14, 2015, The Westin Peachtree, Atlanta, GA
June 9-10, 2015, Chicago, IL
Hot Topics
Vodafone to Ride T-Mobile Back Into US
Dan Jones, Mobile Editor, 12/12/2014
1-Gig: Coming to a Small Town Near You
Jason Meyers, Senior Editor, Gigabit Cities/IoT, 12/17/2014
Gardner's Departure a Cautionary Tale
Carol Wilson, Editor-at-large, 12/12/2014
Cisco Makes Big Analytics Push
Mitch Wagner, West Coast Bureau Chief, Light Reading, 12/11/2014
T-Mobile Lights Up 27 Wideband LTE Cities
Sarah Reedy, Senior Editor, 12/15/2014
Like Us on Facebook
Twitter Feed
Upcoming Webinars
Webinar Archive