Will Smith, Others Invest In Music Video Startup
April 16, 2008 at 11:16 AM (PT)
A new music video destination launched last night. PLUGGEDIN, a new site based in SANTA MONICA, CA, is beginning with about $2 million in venture funding from WILL SMITH's entertainment company, OVERBROOK ENTERTAINMENT and others, CEO JEFF SOMERS told THE WASHINGTON POST. The company says it has deals with UNIVERSAL MUSIC GROUP, EMI and SONYBMG, and will launch with about 10,000 HD and broadcast-quality videos.
The video is being delivered by MOVE NETWORKS, which is the high-def video tech company that just announced its own $46 million round. PLUGGEDIN has hopes of being the destination site of music videos (licensed and third party from around the Web), with artist profiles and community built around it.
The company's team includes BRETT O'BRIEN, founder of XDRIVE, which was sold to AOL in 2005, KEVIN WELK, CEO of VANGUARD AND SUGAR HILL RECORDS, SOMERS, a former executive with AMAZON and ZILLOW, the new company's CEO.