Endemol UK says that it is establishing an investment fund of up to £15 million for development of digital media. The company says that the fund will be used to build a strong portfolio of assets that complement its existing activities, while expanding its digital content production and its creation of new entertainment properties. The fund will be focused on participation TV, gaming and gambling, and on evolving platforms such as VOD, IPTV and mobile TV. The amount Endemol UK invests will depend on the quality of the projects pitched to it, the company says. The fund will be invested over an initial period of up to three years, and will be targeted primarily at the UK market, though "with a view towards potential international expansion." Its investments will include start-ups, joint ventures and acquisitions. "The UK is currently a particularly interesting market for digital development and that’s why we’re kicking off this fund here," Peter Cowley, Endemol UK’s director of digital media, said in a prepared statement.
Earlier this year, Endemol UK reached a deal with BT to develop interactive content for the latter’s new IP VOD service, BT Vision. It also recently launched a mobile division, which is currently producing an interactive mobile reality show for O2, entitled "Get Close To…The Sugababes" (note: the latter, which consists of daily two-minute episodes, priced at 50 pence each, stars the band, Sugababes, who are shooting behind-the-scenes mobile video diaries of their tour with Brit-pop star, Robbie Williams; viewers can influence what the band members shoot for the diaries, texting in suggestions and setting them tasks; the show also features user-generated content: viewers can, for example, send in mobile video of dance moves for inclusion in the Sugababes’ routine).
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Filed under: Industry
