MOVIECLIPS.com has struck a deal with YouTube so that 20,000+ licensed HD movie clips will now become available in the "Movie Extras" section of YouTube movies, as well as on the MOVIECLIPS YouTube channel. In addition, MOVIECLIPS is announcing a $7 million Series B financing led by MK Capital and including prior investors.
The YouTube distribution deal is significant in giving MOVIECLIPS' library broader exposure and monetization potential than it has had. MOVIECLIPS has struck licensing deals with six Hollywood studios. MOVIECLIPS uses its technology to generate up to 1,000 points of metadata, so that users can quickly find the best of Hollywood's most memorable moments.
With the Oscars coming up on Sunday night (my prediction btw: "Avatar" wins everything) - it was timely to speak earlier this week to MovieClips.com'sco-founders Zach James and Richard Raddon. MovieClips.com, which launched in December, justannounced that it was taking away its geo-restriction, effectively making its clips available to most of the world. It also released an API so 3rd parties (bloggers and others) can incorporate some of the site's key features.
MovieClips.com is a wonderful example of how online video is unlocking value in archived assets. As its name implies, the site offers searching and browsing for your favorite movie scenes/quotes. Rich and Zach have been going through the arduous process of signing deals with studios for legitimate rights to index their movies (of course a lot of this already lives illegitimately at social media myriad sites). Their goal is to become the key source of movie clips, supported primarily by ads.
As you would expect from the recently-launched site, clip availability is a still a little hit-or-miss. While Rich and Zach said they believe they have about 65-70% of the most sought after clips, I needled them because I came up empty on my first 3 searches (Terminator 2's "Hasta la vista, baby," The Shawshank Redemption's "Get busy living or get busy dying" and Risky Business's "Who's the U-boat commander?"). I did have better luck on subsequent searches. The company is filled with film buffs and so they have very good insight on what films and studios they need to pursue most aggressively to build out the clip library. A huge part of the site's appeal is the social media opportunities. When you're looking to relive some favorite movie memories, MovieClips.com is going to be very addictive.
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