Technology is upending all facets of media and entertainment. New startups are raising capital to jump on audiences’ shift to streaming, change hidebound production practices, and more.
Insider talked with founders about the pitches they used to raise millions and innovate in content creation and distribution.
VCs and private equity have poured millions into AI startups like Runway that promise to reduce the cost and time it takes to create special effects like de-aging and film restoration.
“There’s a lot of friction in making content,” Peter Cioni said of his and his brother Michael’s new AI platform, Strada. “We want to ease that.”
There’s Canela Media, which raised $32 million to build a streaming home for Latinos, believing the audience wasn’t well served by mainstream streamers. “I kept reading about the streaming wars,” cofounder Isabel Rafferty told Insider. “But I’m a Latina and my options are very limited.”
Animation company Toonstar, which specializes in making quick-turnaround shows, got backing from actor and producer Mila Kunis for a new NFT series.
“There’s a lot of development that I think is just like the Wild West, early days,” cofounder John Attanasio said of Web3 entertainment. “But there’s a lot of development from a tech standpoint that can create all sorts of utility and these crazy interactive experiences, that we’re just kind of scratching the surface of.”
Legion M is taking an unconventional approach to fundraising. The production startup is crowdsourcing its funding from ordinary people, who will then get a chance to help decide what projects the company pursues. The company calls its app that lets users influence the development process a “fantasy football for film buffs.”
Check out the examples below to learn more about how these and other founders have sold their vision.
This content was originally published here.