October 31, 2017 by Paul
Creative Labs’ new Hollywood Startup Studio Venture
Leonard Brody has been called “a controversial leader of the new world order”. He is an award-winning entrepreneur, venture capitalist, bestselling author and a two-time Emmy nominated media visionary. He has helped in raising millions of dollars for startup companies, been through one of the largest internet IPOs in history, and has been involved in the building, financing and/or sale of five companies to date. In his compelling, customized talks — for clients ranging from the United Nations to Visa and Pepsi — Leonard addresses the rapid pace of change, innovation, and disruption facing us all, and what to do about it.
His next big move is building a startup studio in Hollywood in collaboration with Creative Artists Agency. With over $12 million already raised, it’ll be a hot new incubation venture worth watching. Here are some highlights from a TechCrunch story:
In a sign of both the globalization of the entertainment business and the tech industry, the new studio will be based in Vancouver and includes backing from large Canadian and U.K.-based media industry players like Entertainment One, Boat Rocker Media (through its venture arm) and The Telegraph Media Group.
“Vancouver we picked for a couple of very clear reasons,” says Creative Labs’ co-founder Leonard Brody, a Canadian serial entrepreneur and investor. “It had a very strong developer base that was more loyal and [is] less troublesome keeping talent than you would see in other hubs… [and] you have this real deep strength around project management.”
For early-stage companies that, in some cases, are little more than an idea and a celebrity advocate, the need for a project manager to guide a business is critical, according to Brody.
Creative Labs’ chief executive, Mike Edwards, agreed. A former social media marketing executive, Edwards was brought on board to head operations from Mobio Technologies where he had served as chief executive officer.
To ensure the alignment of interests, employees of the studio have an equity stake in the venture studio and will be able to receive equity in all of the businesses that are spun out from it. They also have the option of graduating from the studio to participate in the development of the individual startups as those businesses mature, Edwards said.
“Part of the genesis story of the lab was also a realization that the media and entertainment and sports world has really changed,” said Brody. “The industry itself has changed. The old model was you used to sell product for other people… you were selling stuff for others… as the platforms evolved where talent could speak direct to consumers you realized you could sell your own things and build your own brands and really have the direct relationship.”
That’s what Creative Labs is trying to capture.
Read the full story here.