Cineverse has entered into an agreement with Banyan Ventures, an investment company under the banner of Lloyd Braun, to form a 50 per cent joint venture, which will focus on a hot, short-time market.
The new company, MicroCo, will produce a serial, short space, mobile-end priority content and launch its AIS-based platform for self-help development (the name of which will be published later). Companies are exploring a variety of income models, including advertising, application of in-house purchases and other payment options for fans.
“Everyday, ordinary people browse through a big amount of content, but almost nothing lasts forever,” Lloyd Braun says. “We combine the criticality of the narratives of the TV drama with the rhythm, energy and intimacy of short content, creating an indistinguishable, emotional and high-quality set of plays that are designed for this form and are highly compatible with people’s consumption habits of content.”
“MicroCo will combine a new narrative style that attracts fans and creators, cutting-edge technology that we have developed over the years, and an elite leadership team of the most successful media and content executives of our generation. The final outcome will be a producer and platform that will define a new category. The early successes in this area have highlighted the enormous strategic advantages of this new form, including the construction of original IP engines with global liquidity opportunities, the integration of brand cooperation and the support of powerful economic wheeling of creators.”
MicroCo was headed by Jana Winograde, Chief Executive Officer, who was the director of Showtime Networks Entertainment. Susan Rovner served as Chief Creative Officer.
“As the viewing habits shift to a fast, social, mobile-end priority, our `micro series’ will provide a high-impact narrative for sharing, Jana Vinograd says. “We have the tools to reach our fans in their native ecosystems and to attract them to this new form and platform that has been created for them, whether it be a particular type of deep-tilled or an embrace of their creator communities.”
“The need for a good story never changes, but the viewing habits change. The short play has shown that short narratives can attract and retain audiences, “Suzanne Lovena adds.” But what has been missing is quality, creativity and taste, which is exactly what our team will bring to this form.
Two companies indicated that part of Cineverse’s video library resources would be adapted into a series of micro-short plays.