Online subscription movie service, CinemaNow has received $ 20.3 million dollars in investments in their recent funding ventures. In addition to the recent partnership announced with Fox Studios, CinemaNow has now added EchoStar to its list of supporters which also includes Cisco Systems, Warner Bros., and even Walt Disney Co. The California based company has received about $ 40 million in investments since it's inception in 1999.
In addition to these new investors, previous contributors Transcosmos, Cisco Systems, Lionsgate and Menlo Ventures also invested in the fifth round of funding, CinemaNow's largest single round of financing to date. In addition to expanding its service to mobile platforms, CinemaNow plans to access the 12 million subscribers to EchoStar's Dish Network service via Web-connected satellite boxes that would allow customers to download streaming movies to their television sets, according to Reuters. This new infusion brings the Marina del Rey, Calif., company's investment total to $ 40 million since 1999. |
Increasing investments means increasing interest from other content providers that may wish to make their product available online. With CinemaNow looking into the wireless realm and gaining content providers ranging from Disney to Sony to Sundance, it will be interesting to see how this particular industry unfolds over the coming years.
CinemaNow's service is flexible allowing both renting and purchasing of movies through their site, and they offer a 7 day free trial. For more information Check out CinemaNow.
Source: TVweek.com
