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Bruce Springsteen and Sting are not the only artists these days making millions of dollars from their content catalogs. L.A.-based startup Spotter today announced it's raised $200 million to make an offer to creators on YouTube: cash up front (up to $40 million) in exchange for their videos' ad revenues. Entertainment Tech Reporter Christian Hetrick looks at how L.A.'s latest unicorn company works.
Here’s what else we’re reading in the news:
- L.A.'s taxi regulations get an upgrade in a bid to make them more competitive.
- L.A.-based live performance app Encore raises $9 million.
- Restaurant automation company Hyphen raises $24 million and aims to expand into L.A.
- Spotify buys a pair of podcast analytics startups.
- L.A. rolls out the first of its plug-in hybrid street sweeper vehicles.
Since launching in 2019, Los Angeles-based creator platform Spotter has spent $350 million to license YouTubers’ back catalogs—providing creators with cash up front in exchange for their videos’ advertising revenues.
Woodland Hills-based Auticon just got $4 million from the Autism Impact Fund, a Florida-based venture capital firm that invests in companies that look to move the needle for people with autism.
The Marina del Rey-based venture capital firm focused on real estate technology unveiled its first fund dedicated to the European market on Wednesday. The fund brings the total capital Fifth Wall now manages to approximately $3 billion.
The Santa Monica-based social media company is partnering with Ticketmaster to curate local concerts and events based on users’ tastes. The recommendations will live as a feature inside of the Snapchat app called Ticketmatcher Mini.
On this episode of LA Venture, KB Partners' Steve Ahern talks about how traditional sports are evolving to include fans in the game and create new ways for them to interact with their heroes.