Investors pour seed funding to MovieLala
MovieLala received seed funding from various investors. Although the amount was not disclosed, the social network and movie marketing platform said the investors included Jim Moloshok, Larry Braitman and Adam Nash. Moloshok was formerly an entertainment executive who worked with such outfits as Yahoo!, HBO and Warner Bros. Braitman is one of the founding investors of Flixter and an online advertising veteran while Nash is the Chief Operating Officer of Wealthfront.
MovieLala said the proceeds will be used to help the company fulfill its goal of giving studios a way to market their movies effectively and efficiently online. It will also be utilized to contribute to the ongoing launch of the platform which helps movie lovers learn more about new films. MovieLala provides fans, movie studios and stars a way to connect with each other.
MovieLala also provides movie marketers with a platform to heighten the buzz about the movies they are about to release to help ensure robust sales for the opening week. When a movie opens strong, it also sends a signal to other movie fans to check out the film, Movie Lala said in a press release.
MovieLala Co-Founder Dana Loberg said, "This esteemed group of investors validates what we are building at MovieLaLa. Studios today have no problem generating awareness leading up to theatrical releases, but they struggle to transform that into intent to purchase tickets. We look forward to closing the missing loop in movie marketing by helping studios optimize their marketing dollars through more effective online targeting with movie fans."
MovieLala said it aims to connect movie studios with target audiences not only on a domestic scale but worldwide sale. It seeks to capitalize on the power of the digital landscape by using analytics and real-time insights in order to engage the long-term interest of moviegoers.