MGM, Warner Music Group Fund Interactive Media Startup Interlude
The company has raised $18.2 million from investors that also include Samsung, Sequoia Capital and Intel Capital.
MGM has led an $18.2 million investment into interactive media startup Interlude.
Other participants in the round include Warner Music Group, Samsung and existing investors Sequoia Capital and Intel Capital. As part of the investment, MGM chairman-CEO Gary Barber has joined the company as a board observer.
The funding expands MGM's relationship with Interlude, which has until now focused on interactive music videos and branded content. Earlier this year, MGM Television announced a partnership with Interlude to create an original digital short inspired by the 1983 film WarGames. "MGM continues to expand its footprint by identifying innovative platforms and technologies, such as Interlude, to introduce new audiences to our creative content," Barber said in a statement.
Interlude, which was founded by CEO Yoni Bloch in 2010, has been focused primarily on the music world, thanks to a partnership with WMG. It has created a number of interactive music videos, including one for Carly Rae Jepsen's "Run Away With Me," where viewers select different emoji to dictate what happens during the video. In April, New York-based Interlude tapped former Xbox Entertainment Studios chief Nancy Tellem as executive chairman and chief media officer to help build out a creative team in Los Angeles.
Now, the company is looking to expand into serialized video content including drama, comedy, news, sports, music and pop culture. Interlude also wants to grow its community of creators and advance its technology to feel and respond to a person's interests and preferences. "Though video has always been a very powerful storytelling medium, it has not, to date, been able to adjust and adapt from viewer to viewer," said Bloch. "But we are aiming to allow filmmakers and content to form a unique connection with each viewer. This has the potential to change the relationship between film and individual audience members."