RipeTV, the LA-based online VOD service which has been in gestation for a long time, is now finally ready to launch outside cable VOD, on October 28, 2005. The company has also closed a $5 million investment round, with investment by Hearst-Argyle Television.
The company’s service, aimed at guys ages 18-34, launched on Comcast ON DEMAND in July, and will now launch online, and on MSN, Akimbo, Comcast.net and on mobile phones this month.
With its investment, Hearst-Argyle Television will “strategically assist RDE in advertising, distribution and new market endeavors”. RDE’s founders include CEO Ryan Magnussen, President Patrick Bradley and VP of Sales Steven Voci — all three of whom were founding partners for interactive agency Zentropy — as well as Jonathon Barbato, who launched Starz On Demand nationally.
So what’s the business model? RDE has created a “new advertising platform called ‘Immersive Advertising’ that is fast-forward resistant or ‘DVR-proof’ due to the fact that advertising occurs while a show is being viewed. RDE embeds ads into the video, and charges based upon actual views,” says the company. I suppose they mean product placement…
— Ripe Time For RipeTV?
— RipeTV Ready To Launch Its Service