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Will Smith And Others Invest About $2 Million In Music Video Startup PluggedIn

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A new music video destination is launching tonight, and yes, another one. PluggedIn, a new site based in Santa Monica, is launching with about $2 million in venture funding from Will Smith’s entertainment company, Overbrook Entertainment and others, CEO Jeff Somers told me today. The company says it has deals with Universal Music Group, EMI and SonyBMG, and will launch with about 10,000 HD and broadcast quality videos. The video is being delivered by Move Networks, which is the high-def video tech company that just announced its own $46 million round. PluggedIn has hopes of being the destination site of music videos (licensed and third party from around the Web), with artist profiles and community built around it.

The company