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MovieBeam Re-launches with HD Movies, $48.5 Million in VC Funding

Authored by Mark Hefflinger on February 14, 2006 - 10:39am.
Menlo Park, Calif. - MovieBeam, a video-on-demand service originally launched by Disney in 2003 but later discontinued, on Tuesday announced the re-launch of its service in 29 U.S. markets, and a new round of venture capital financing totaling $48.5 million. Mayfield Fund led the investment round; Cisco Systems, Intel and Disney also participated. The MovieBeam service uses over-the-air "datacasting" technology to deliver a weekly-updated library of 100 movies to TV set-top boxes. The required set-top box costs $199, while new releases rent for $3.99 each for a 24-hour rental period. Disney initially launched MovieBeam in three markets, but discontinued the service in April 2005 with plans to upgrade technology. With its re-launch, MovieBeam becomes the first video-on-demand service to deliver high-definition versions of some movies, which will cost $1 extra to rent.
tags: HD | MovieBeam | Movie | Re-launch | $48.5 Million | VC Fund |

Disney's Moviebeam VOD Service Raises $48.5 Million

Authored by Mark Hefflinger on February 6, 2006 - 6:26am.
New York - Moviebeam, a video-on-demand service launched by Disney in several markets in 2003 but suspended last year, has raised $48.5 million in new venture capital funding, Reuters reported on Monday. Both Disney and networking equipment firm Cisco Systems participated in the investment round, as did venture capital firms including Intel Capital, Mayfield Fund, Norwest Venture Partners and Vantage Point Venture Partners. Moviebeam spokeswoman Michelle Cox told Reuters that Disney remains the company's largest investor, but declined to itemize the other investors' contributions. Moviebeam utilized unused spectrum from TV broadcasters to "datacast" movies and other content to set-top boxes in consumers' homes. The service launched in three cities in 2003, but suspended all service in 2005, saying it planned to upgrade technology. The spokeswoman declined to tell Reuters when Moviebeam plans to re-launch.
tags: VOD | Disney | Raise | $48.5 Million |