William Morris is one of the oldest talent agencies in the land so the fact that they’ve set up a multi-million-dollar fund to invest in online companies is a small sign that this isn’t another bubble.
According to the NYT:
“On Monday, the William Morris Agency, the Hollywood talent shop, will announce that it is teaming up with the Silicon Valley venture capital firms Accel Partners and Venrock to invest in digital media start-up companies based in Southern California. What makes the combination unusual, though, is the addition of AT&T as a limited partner.”
Though, as NewTeeVee points out:
“Don’t be looking for massive money: investments will range from $250,000 to millions of dollars. The total fund size is in the “tens of millions” so they’re not going to blow it all on one company.”
I think the big thing here is that mobile companies are seeking ways to get more video to their customers. One hopes this will push the technology forward to a place that is at least close to the sort of coverage provided in many parts of Asia, where watching video on a mobile phone is commonplace.