Comcast Invests In Indie VoD Company

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Comcast’s merger with NBC Universal may be the focus of a lot of concern surrounding the cable company’s impact on Video on Demand, but it’s clearly not the only place people should be looking. The company has just invested in SnagFilms, an online video distribution site that’s previously specialized in making documentary films available for rental or purchase.

Comcast isn’t the only company investing in SnagFilms; New Enterprise Associates is also involved in this latest round, the two bringing in $10 million in new funding for the distribution start-up in time for a big change; the company is now looking to distribute non-documentary independent movies, and has hired industry vet Bingham Ray to spearhead the effort.

Prior to the investment, SnagFilms already had a VoD deal with Comcast, as one of its many outlets; iTunes, Verizon and others are also partners with the company, which has around 2,000 films available currently. Plans are to grow that effort to closer to 10,000 soon.

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