Media and technology holding company WndrCo – founded by Jeffrey Katzenberg, Ann Daly and Sujay Jaswa – has raised US$1 billion in initial funding for its mobile streaming startup, NewTV.
Led by Katzenberg (pictured) and Meg Whitman, NewTV will serve as an entertainment platform built for mobile viewing that will develop and produce premium, original short-form series across the unscripted and scripted genres. The firm is hoping to launch by the end of 2019.
A number of major Hollywood studios, indie television studios, tech companies and strategic partners have backed the Los Angeles-based startup. Media industry investors include Disney, Fox, Lionsgate, MGM, NBC Universal, Sony, Viacom, Warner Media, eOne and ITV.
The technology companies backing the venture include Alibaba and Google, and the strategic partner investors include JP Morgan, Liberty Global and Madrone Capital.
The funding officially closed July 31.
Film executive and producer Katzenberg appointed Whitman, a former Hewlett Packard Enterprise and eBay head, to CEO of NewTV in January 2018. Katzenberg founded WndrCo in 2017 with the intent to invest in and develop digital media. It’s co-headquartered in Los Angeles and San Fransisco.
“NewTV will have access to the best talent and intellectual property for this next era in entertainment,” said Katzenberg in a statement. “We are already seeing tremendous interest from Hollywood’s top talent.”