The Future for Digital Start-Ups In Hollywood: There's an App for That
A July 24th, 2010 NY Times article by Brooks Barnes provides a quick overview of the recent boom in digital entertainment start-ups in Hollywood. While Brook Barnes links to a number of promising new companies, there is a cautionary note to his survey. Barnes notes that in 2007 there was a similar flurry of digital start-ups in Hollywood. That bubble burst after October 2008. These days, new announcements from fledgling companies claiming that their idea will revolutionize how the media is received are usually met with a "prove it" attitude from investors. According to Brent Weinstein, head of digital media for United Talent Agency, many of the ideas that are starting to surface as “junior varsity.” Or, as Lindsay Conner, a lawyer at Manatt, Phelps & Phillips who specializes in entertainment finance, puts it: “The problem is the same as in every gold rush: the gold is easier to see than to mine."