Hollywood is continuing to plow money into digital media.
Interactive video startup Fuisz Media of Santa Monica landed a $10 million Series A investment today led by Evolution Media Partners, a joint venture of New York investment bank Evolution Media Capital, private investment firm TPG Growth and Jeff Skoll’s Participant Media. The group came together to invest in media, sports and entertainment businesses, including tech startups.
Fuisz Media’s interactive video technology allows viewers to click on people, products and scenes in videos. Agencies and studios are eyeing it as a way to enhance product placement in film and television, giving consumers a way to engage the products they see on screen.
“Cover Girl used it to do a joint ad with ‘Pitch Perfect 2’ and they had a makeup line associated with the girls in the film,” said Chief Executive Justin Fuisz. “Users during the film trailer (could) touch on each of the girls and see the look and the makeup used to create that look.”
Fuisz Media’s interactive features usually aren’t used for direct response campaigns, he explained, but rather for brand awareness or for connecting with consumers on social media. Hollywood sees big opportunities in such technology, as its shows brands how consumers are engaging with their promotions.
And that’s Evolution Media Partners’ interest.
“Fuisz’s proprietary technology adds a new dimension of online video engagement and enables global advertisers to create unique interactive experiences with brands for consumers,” said Ian Doody, principal at Evolution Media Capital, in a statement.
The investment in Fuisz Media is the latest of a long string of Hollywood investments in technology companies.
Creative Artists Agency has an interest in Evolution Media Capital, and William Morris Endeavor and United Talent Agency have taken stakes in tech startups in recent years. L.A. talent agencies often invest in companies with technology that enhances traditional Hollywood revenue streams, such as product placement, content distribution channels and promotions.
Technology reporter Garrett Reim can be reached at [email protected]. Follow him on Twitter @garrettreim for the latest in L.A. tech news.
