& cplSiteName &

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        ADD A COMMENT
Featured Video
From The Founder
Light Reading is spending much of this year digging into the details of how automation technology will impact the comms market, but let's take a moment to also look at how automation is set to overturn the current world order by the middle of the century.
Flash Poll
Upcoming Live Events
November 1, 2017, The Royal Garden Hotel
November 1, 2017, The Montcalm Marble Arch
November 2, 2017, 8 Northumberland Avenue, London, UK
November 2, 2017, 8 Northumberland Avenue London
November 10, 2017, The Westin Times Square, New York, NY
November 16, 2017, ExCel Centre, London
November 30, 2017, The Westin Times Square
May 14-17, 2018, Austin Convention Center
All Upcoming Live Events
Infographics
With the mobile ecosystem becoming increasingly vulnerable to security threats, AdaptiveMobile has laid out some of the key considerations for the wireless community.
Hot Topics
Is US Lurching Back to Monopoly Status?
Carol Wilson, Editor-at-large, 10/16/2017
Muni Policies Stymie Edge Computing
Carol Wilson, Editor-at-large, 10/17/2017
'Brutal' Automation & the Looming Workforce Cull
Iain Morris, News Editor, 10/18/2017
Pai's FCC Raises Alarms at Competitive Carriers
Carol Wilson, Editor-at-large, 10/16/2017
Worried About Bandwidth for 4K? Here Comes 8K!
Aditya Kishore, Practice Leader, Video Transformation, Telco Transformation, 10/17/2017
Animals with Phones
Selfie Game Strong Click Here
Latest Comment
Live Digital Audio

Understanding the full experience of women in technology requires starting at the collegiate level (or sooner) and studying the technologies women are involved with, company cultures they're part of and personal experiences of individuals.

During this WiC radio show, we will talk with Nicole Engelbert, the director of Research & Analysis for Ovum Technology and a 23-year telecom industry veteran, about her experiences and perspectives on women in tech. Engelbert covers infrastructure, applications and industries for Ovum, but she is also involved in the research firm's higher education team and has helped colleges and universities globally leverage technology as a strategy for improving recruitment, retention and graduation performance.

She will share her unique insight into the collegiate level, where women pursuing engineering and STEM-related degrees is dwindling. Engelbert will also reveal new, original Ovum research on the topics of artificial intelligence, the Internet of Things, security and augmented reality, as well as discuss what each of those technologies might mean for women in our field. As always, we'll also leave plenty of time to answer all your questions live on the air and chat board.

Like Us on Facebook
Twitter Feed
Partner Perspectives - content from our sponsors
The Mobile Broadband Road Ahead
By Kevin Taylor, for Huawei
All Partner Perspectives