Goldman Sachs and Velocity Interactive Group have put another $15 million into the online TV site Next New Networks, the company will announce shortly. The company, which launched in January 2007, had previously raised $8 million from Spark Capital, Saban Media Group, Pilot Group, and Bob Pittman. All the previous investors put more money in and Jonathan Miller from Velocity Capital was already on the board of the company.
The company says it has had 33 million video views so far in March across its 12 video networks, which include Barely Political (home of Obama Girl), Channel Frederator (cartoons), ThreadBanger (DIY fashion), and Veracifier (daily news). Next New Networks also announced a deal with AOL today to distribute its videos.
Fantastic news for the NNN’ers. They’re working hard over there, and this is definitely validation for the online TV space. Rev3 and NNN are trailblazing.
anyone surprised this happens on hulu’s launch date?
Great news for all original online video content producers. NNN is definitely worthy!
VC’s should look outside of the USA, the Romanian start up trilulilu.ro that also launched in Jan 2007 for example has a lot more video views each month, but then its UGC perhaps that isn´t fashionable anymore.
@Jan i don’t thing that it’s related.
Sweet!
Congrats to Tim & the crew. Looking forward to the next season of “Thread Heads”! 
Congrats to NNN. Does anyone know – especially given the YouTube story today – what percentage of NNN views come on YouTube? Based on checking traffic on some of the channel URLs that it is over 90%. How do we start to think about this issue, not so much for NNN, for the online video industry in general? All of these how-to sites popping up…what percent of their views come from YouTube? How much of your brand is diluted when you exist primarily in that venue? One guesses that it is an issue when you see the emphasis on being on AOL now…but even assuming they get a ton of traffic there, does that solve or actually compound the issue?
Justin from NNN is my bestest amerfriend in the world
great, burn through some more cash. i’d like to know how much money they have made to date?
Having looked at the NNN channels such as Ultra Kawaii I would think that they are targeting small niches yet they may use production staff making their fixed costs high.
Thus, it seems they need the raised money to cover high burn rate especially if the primary channel where they are found is youtube (equals no revenues).
But, they don’t need too many channels to take off to make the money back. Good bet, bad bet, who knows.
Same old same old. Other than what’s on Youtube who really cares about more new video sites. What a waste!