Ovitz is getting on board with Doppelganger world
Among backers of virtual ventureMichael Ovitz is among a group of Hollywood executives who have joined the board of advisers for the growing social entertainment company Doppelganger, the company is set to announce today.
The former CAA chief, who is known to track emerging entertainment trends for investment opportunities, is expected to focus his energies on Doppelganger's the Music Lounge, the company's first effort in the virtual worlds category.
The Music Lounge, which integrates brand advertising and is free to its users, targets young people interested in music, fashion and celebrities. In February, it launched a virtual set based on "The Tyra Banks Show" through a collaboration between Doppelganger and Telepictures Prods.
"I love the way that the company has created an environment around IM and social networking, and the opportunities for branding and marketing to its audience are enormous," Ovitz said. "Doppelganger has a bright future."
The newly named board also includes music attorney Fred Davis, MTV Networks executive vp digital Courtney William Holt, Shady Records president and co-founder Paul Rosenberg and veteran talent agent David Schiff.
"Doppelganger is the place in the virtual world where big music and big entertainment are coming to work collaboratively with big sponsors to deliver interactive experiences to our user base," Doppelganger CEO Tim Stevens said. "Each of these individuals are extremely engaged in what we're doing."
Ovitz, a regular — if these days quieter — investor, holds an unspecified equity share in the tech company. Much of his previous involvement in entertainment technology came via his role as head of investment and consulting firm Lynx. That company's investments included search engine/ file-sharing service Scour.net, e-commerce site CheckOut.com, GameSpy Industries, Applied Semantics, Ask.com and Atom Entertainment.
Applied Semantics sold to Google in 2003, and Gamespy went to IGN in that same year. Ask.com was bought by IAC/ InterActiveCorp in 2005, and Atom Entertainment went to Viacom in August.
One of his more publicized misses was a multimillion-dollar investment he made in Scour.net, which was sued out of existence.