SnagFilms brings documentaries to widgets

Written on July 17, 2008 – 4:32 pm
Joop Dorresteijn, Contributing editor

Serial entrepreneurs Ted Leonsis (AOL) and Rick Allen (National Geographic Society) started producing documentaries and launched SnagFilms.com earlier today to distribute them, SnagFilms also acquired IndieWire, a online resource and community for independent filmmakers from GMD studios to facilitate the site’s content.

Also supports good-causes and artists

Snagfilms.com is a combination of documentaries and widgets, making it easier to distribute full-length documentaries. Leonsis hopes to generate millions of virtual movie theaters with SnagFilms, simply by combing high-quality streaming with easy ways to distribute them. The user grabs the free widget and supports a good cause and the artist. Some artists pick their cause, others are selected by Global Giving.

Acquiring IndieWIRE

12-year-old IndieWIRE released a press release, announcing the acquirement. They explain to supply archival and news content for SnagFilms.com and the company’s virtual movie theater widgets, including breaking news from the indie sector, blogs and comprehensive film reviews. SnagFilms will provide new resources to extend indieWIRE’s coverage, and claims to continue to operate as an independent site for now.

A billion video streams

Three former top executives of Time Warner Inc’s AOL invested less than $10 million dollar in Snagfilms, with Leonsis as a majority owner and Case and VC miles Gilburne. Revenue streams would include web advertisements, pre-roll video advertisements and 8.5% from the DVD sales. Leonsis: “If we get a billion streams, we’re probably going to need another investor.” And with AOL video as the backbone for video-streams, they probably don’t have to worry about that as well. Snagfilms to has a good shot in becoming the preferred video site for documentaries, a category that has struggled to gain mainstream attention on the web.

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documentary, IndieWIRE, SnagFilms

About the author: Joop is an entrepreneur and blogger located in Seoul, South Korea. Read his blog here.

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