Filmhub Gets $6.8 Million Funding and New Distribution Deal With Struum
Investors include a16z, 8VC, FundersClub, Eleven Prime, Tar Viswanathan, Nick Greenfield, David Fraga and Jerrod Engleberg
Filmhub, which aims to help filmmakers find distribution for their projects, said it completed a $6.8 million seed funding round led by a16z.
Filmhub also launched an arrangement with streaming service Struum to accelerate the distribution of content featured at the 2022 Slamdance Film Festival that is expected to provide monetization opportunities for filmmakers.
Some Filmhub content was already available to Struum subscribers.
“With this new injection of capital, Filmhub is poised to continue leading the charge in revolutionizing the way Hollywood works,” said Alan d’Escragnolle, CEO and co-founder of Filmhub. “We started Filmhub to put ownership and monetization opportunities directly in the hands of filmmakers. In today’s world, distribution is not limited by physical shelf space and award-winning films are coming from everywhere, not just the old studio system. There’s an insatiable appetite for diverse content and with the support of our investors, we’re building the system to make film distribution work within the new reality.”
In addition to a16z, participants in the funding round included 8VC, FundersClub, Eleven Prime, Rupa Health CEO Tara Viswanathan, Candid CEO, Nick Greenfield, former InVision COO David Fraga and Codecov CEO Jerrod Engelberg,
“In today's market, unless you’re an established filmmaker, it can be very difficult to have your work discovered. This is a missed opportunity for both streaming services and consumers alike, especially given the potential we're seeing for more diverse and international content," said Andrew Chen, general partner at a16z. “By working to move the industry's distribution model forward, Filmhub is creating a win-win-win for creatives, platforms and viewers globally.”
Also: Struum Raises $7 Million To Expand Streaming Aggregation Service
Filmhub, working with Strumm, said it is offering every filmmaker at Slamdance the opportunity to extend the reach of their films. Both Filmhumb and Struum will forgo the usual profit share while making the films available to Struum subscribers, allowing the filmmaker to capture every dollars.
“Struum has created an incredible collection of independent films with our content partners; with this partnership with Filmhub, we are looking to bring the films that have exhibited at Slamdance to our independent film lovers community,” said Paul Pastor, co-founder and CBO of Struum. “To continue to foster the spirit of independent film, with Filmhub, we also hope to help these creators realize the full economic potential of their films.”
Struum’s platform gives viewers access to thousands of shows and movies by giving subscribers access to content from multiple participating streaming services.■
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.