Thought Equity Motion Inc., which provides video platform and footage licensing services, today announced it closed a $25 million investment from Shamrock Capital Advisors. Major film studios, news organizations, sports rights holders, agencies and video production companies use the company’s video licensing platform.
One of Thought Equity Motion’s most recent deals was with NBC News for its NBCUniversalArchives.com, a service that makes video available commercially from a number of NBCUniversal divisions including NBC News, NBC Sports, NBC Entertainment, Universal Studios, Universal Pictures, Telemundo, The Weather Channel, NBC Radio and NBC Photobank.
It also has deals with Sony Pictures Entertainment, Paramount Pictures, BBC Motion Gallery, NHK and others, with a particularly solid foothold in sports that includes the National Collegiate Athletic Association (NCAA), the Atlantic Coast Conference (ACC), the Big Ten Conference, and live game syndication company Raycom Sports.
Thought Equity Motion enables content owners to move over to an all-digital workflow that simplifies organization and retrieval, making it more practical and less expensive to maximize the value of their assets by licensing them and by packaging clips for specials and other similar projects
“We’re excited to be working with Shamrock, as their expertise and relationships in the media space will add tremendous value as we scale our business,” said Kevin Schaff, CEO and founder of Thought Equity Motion. “This is a key milestone for Thought Equity Motion. Over the last eight years we have built out our video platform and helped the world’s leading media rights holders and video producers store, access, and monetize their libraries at multi-petabyte scale.”
Thought Equity Motion estimates the market for video management at over $2 billion and growing at over 30 percent per year. The company also cites a 2010 IDC Digital Universe report that projected video storage to grow from 1.2 million petabytes in 2010 to 35 million petabytes in 2020.