MovieClips.com Raises $3 Million, Launches New Features
Website boasts clips from 14,000 movies from six major studios.
A website boasting the largest collection of licensed movie clips raised $3 million and launched some new features.
MovieClips.com said Monday that the series-A funding came from Shasta Ventures, First Round Capital and some angel investors.
The website has clips from 14,000 movies from six major studios, the notable holdout being Disney.
One recent technological innovation allows users who enjoy a clip to add the movie to their Netflix queue with a button-click, while another gives users 100 suggestions for other clips they might like for every one they watch, based on a host of criteria.
The site also features mashups of movie clips in various categories. A popular one Monday, for example, was Dangerous Dancing, featuring Bernardo killing Riff during West Side Story and Donald O'Connor getting clobbered by a hunk of wood in Singin' in the Rain.
The studios supply MovieClips.com snippets of films, and the site intends on making money through advertising. After a minimum is earned on a clip, the site splits ad revenue with the relevant studio. MovieClips.com also links to places where consumers can buy DVDs of the movies that are clipped at the site.
It wasn't an easy sell to get the studios on board, said Zach James, an investment banker and venture capitalist who co-founded MovieClips.com with Richard Raddon, the former director of the Los Angeles Film Festival.
"We said to the studios, 'Hey, your clips are as good as gold and they're just collecting dust'," James said. "And we came in their with big guns on our advisory board."
Those advisers include Sid Ganis, the past president of the Academy of Motion Picture Arts and Sciences, and Michael Helfant, past president and COO of Marvel Studios.
MovieClips.com also will let users include some movie clips on their blogs or Facebook pages.
"The strength of the site is the old films," Raddon said. "How do you introduce them to new audiences? Make them socially relevant."
The site also has various Top 10 lists. The co-founders said perennial favorites include The Big Lebowski and Anchorman: The Legend of Ron Burgundy, while in the days leading to Halloween, The Exorcist and The Rocky Horror Picture Show were big draws.