NextNew Networks evolves – changing business models http://bit.ly/d6w8jh NextNew has been a leader in web video series production.
NextNew Networks is evolving from producing its own content to contracting with the producer to use their facilities and share revenue with them.
Instead of producing video on its own, NNN CEO Lance Podell said in an interview last week that the company seeks to be an incubator of web video talent, striking rev share agreements with independent creators who can leverage Next New’s studio, brand and marketing muscle to increase audience awareness. The reason for the shift is pretty simple: It takes Next New’s production costs down to nothing. And as a result, Podell believes that the company has finally landed a business model that is scalable.