paidContent has an interesting scoop this evening about Creative Arts Agency collaborating with Draper Fisher Jurvetson and other VCs to raise $150 million to $200 million to invest in digital entertainment startups. ICM, another big Hollywood talent agency, is reportedly in discussions with Qualcomm CEO Paul Jacobs about forming its own venture fund.
We often ask whether VCs should fund content — in fact, we had a contentious panel on that topic at NewTeeVee Live. What about the reverse: talent agents placing bets on technology?
Taking these stereotypes further, Southern California and Northern California have two different assets — talent and innovation. They also have two different business models — the spend-money-to-make-money school versus the metrics-are-everything school. Is there such thing as a happy medium? Maybe it’s just a matter of semantics whether you want to displace or remake big media.
We’ll update soon with more analysis and video from our VC panel. In the meantime, where do you guys see this headed?
Update: Here’s another angle: The bankers at JPMorgan have set aside $200 million to invest in “film and television financings, content acquisitions, new industry ventures, and traditional and digital media start-ups.” (release)