Hear from CIOs, CTOs, and other C-level and senior execs on data and AI strategies at the Future of Work Summit this January 12, 2022. Learn more
The company now has 12 main channels in its network, with 33 million video views in February, a pace that suggests strong growth from last year, when the site had more than 100 million video views.
We reached a company representative, and she would not comment on how the company’s revenue is coming along. Getting advertisers to pay good money for online video has proven tougher than some have expected, in part because advertisements are disruptive, regardless where they’re placed within a video. However, Next New is pursuing a strategy of distributing its videos as extensively as possible, for example today officially announcing a deal to place its video channels in sidebars along AOL-owned sites. Next New did say it has signed some ad deals in the fourth quarter last year, specifically around its car channel.
Velocity, the new firm formed by former AOL CEO Jon Miller and former News Corp. executive Ross Levinsohn, has focused heavily on video investments. Velocity has backed Motricity (see our coverage), which distributes mobile applications. The firm has also invested in Generate (our coverage) and BroadBand Enterprises (our coverage).
Joining Goldman and Velocity in the round are previous Next New Network investors Bob Pittman, Saban Media Group and Spark Capital.
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more