Katzenberg raises $800m for short-form content production – report | Media Investment | Business
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DreamWorks co-founder/Hollywood mover-and-shaker Jeffrey Katzenberg has reportedly snagged $800 million in financing to create high-end content for his video startup NewTV.

katzenberg 15 may 2018People with knowledge of the matter have told Bloomberg that most of that production effort will be focussed on short-term fare. However, even though the shows will each only be a few minutes long (and no more than 15), the cost for each series will rival that of a full-length Netflix series at about $5 million to $6 million per hour, the sources said.

“Jeffrey wants to take what Apple and Netflix and HBO are doing, and translate it into 10-minute-or-less shows,” said Rich Greenfield, an analyst at BTIG, told the outlet. “I’m not saying it will work or won’t work. The reality is -- until we actually see it -- it’s hard to know.”

Among the investors are 21st Century Fox and Warner Bros, the sources said, adding that these two together account for about a quarter of the overall investment. The rest comes from institutional investors.

Last year, Katzenberg announced that he had raised money for WndrCo, an investment vehicle for media and technology companies. NewTV is the largest of WndrCo’s investments to date. Meg Whitman, former CEO at Hewlett Packard Enterprise, has been tapped to lead the business.

“He believes that when you see it you’ll believe it,” Greenfield said.