These days, even Wall Street analysts are acknowledging that content is no longer king, but MEVIO, formerly known as Podshow, has just received funding from some of the biggest names in the VC world. The company has raised $15 million round in funding, led by Crosslink Capital, along with Kleiner Perkins and Sequoia. Maybe online content is more of a wealthy prince.
MEVIO specializes in professionally produced content that it both creates itself and aggregates from around the web. Unlike most of its competitors in online video (most notably YouTube), it has managed to attract a wide range of brand advertisers.
These advertisers, which include Coca Cola, Toyota, HP and Microsoft, tend to shy away from user-generated content. They feel safer when they know their brand won’t show up next to user-created content like, say Sloppy Drunk LisaNova, whose slurry rant was recommended to me today on YouTube’s homepage.
The company says that its goal is to grow into a full-fledged network capable of competing with traditional TV broadcasters. With 9 million unique monthly visitors, it still has a ways to go — although the company says it has grown 800 percent over the last year. Its current lineup, stacked with somewhat mixed fare like “Women of YouTube,” “Eleventh Commandment,” and “Dr. Cockney,” (an international sex therapist show that attracts 3 million viewers a month), doesn’t stack all the way up against top TV shows like “Heroes” and “It’s Always Sunny in Philadelphia,” both readily available on Hulu.
The $15 million will be used to further build out the company’s stock of content and expand its distribution partnerships.
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