--Secures CDN$4.6 Million in Second Round of Funding

Overlay.TV, an Ottawa-based company which offers an interactive broadband video platform that supports widgets, hyperlinking, video-in-video mashups and more, recently contacted [itvt] to let us know that it has teamed with Hollywood Records to develop a video karaoke widget for the boy band, The Jonas Brothers. Dubbed the Jonas Brothers Vocal Booth, the widget--which will be available through January--allows fans of the band to add an additional vocal track to the band's latest single, "Lovebug." In order to use the app, fans need a Webcam (Webcam video of the fan singing "Lovebug" appears next to the music video of the single containing the extra vocal track) and a mic. Once their submissions are saved, they are reviewed for "appropriate" content and are made available on the Jonas Brothers' Web site (jonasbrothers.com/singalong). "Brands have been experimenting with ways to engage audiences through video for years," Overlay.TV CEO, Rob Lane, stated. "Traditional approaches to online content are static, and purely consumer-created media is a huge risk for advertisers. This project really does build on the promise of Overlay.TV to engage online video audiences in a whole new way, and now lets them share that experience with the millions of Jonas Brothers' fans worldwide."
In other Overlay.TV news: The company says it has raised CDN$4.6 million in a second round of funding that saw the participation of its existing investors, Celtic House Venture Partners, Tech Capital Partners and EdgeStone Capital Partners. The company says it will use the new funds to continue its "trajectory of monetization for user- generated content, and fund its expansion into premium content and additional brand partnerships." "Video adoption continues to grow on the Internet, but unlike most standard platforms, Overlay.TV has something different to offer: a deeper engagement with a richer online video experience," Overlay.TV's Lane said in a prepared statement. "This is what makes Overlay.TV such a promising platform for both our customers and our investors. We also understand that, during these tough economic times, companies are looking for ways to optimize spending, and Overlay.TV has proven that we can deliver better results. This second round of financing validates our progression, and will allow us to continue to develop products that encourage consumers to interact with content and brands in new and exciting ways."
Overlay.TV launched its first general release on September 4th, following a six-month beta program. Since then it has announced deals with--in addition to Hollywood Records--Nettwerk Music Group, KidzBop and Transcontinental Media. According to the company, its recent projects--in addition to the Jonas Brothers Vocal Booth--include the launch of interactive videos for Nettwerk artists, Sarah McLachlan and Uh Huh Her; the provision of a white-label solution for KidzBop; and interactive content treatments for the online magazines, Elle Canada and Style at Home. It recently began providing access to an API and an SDK.
-

Related Content on [itvt]
|
|
Recent News
Interactive TV Headlines Round-Up (I): Arris, Moxi, NDS, Audible Magic, Avail-TVN, NBC, Azuki, D-Link, BBC, BeeSmart, Blinkx, Brightcove
Interactive TV Headlines Round-Up (II): Cable Show's "Imagine Park," Ceton, Comcast, Skype, eBay, Entone, Foxtel, Xbox 360, IAB, Mass Relevance, Motorola, Nagra-OpenTV
Interactive TV Headlines Round-Up (III): NCM, Netflix, Ocean Blue, Peel, Perform, Roku, SeaChange, Avail-TVN, Tellabs, Shazam, E!, Billboard Awards
Interactive TV Headlines Round-Up (IV): Softel, Synacor, The CW, Interlude, Time Warner Cable, BlackArrow, Vutopia, HBO Go, Motorola, Turner, Funny or Die, TVplus, UIEvolution, CTVMA
Interactive TV Headlines Round-Up (I): ABC, IntoNow, Aereo, Alticast, AT&T, Xbox, BBC, Olympics, BT Vision, CableNET, Cablevision, CBC, never.no, NeuLion, LaunchFire
Interactive TV Headlines Round-Up (III): Ensequence, FameUp.TV, Foxconn, Apple, Hillcrest Labs, Michael Kiwanuka, FanCake, LG Electronics, Google TV, John Mayer, LookeeTV, Netflix, Twentieth Century Fox
Interactive TV Headlines Round-Up (IV): Nuance, Samsung, ONO, TiVo, Orange TVCheck, PlayJam, Youda Games, RayV, Realtor.com, Cox, Rentrak, SnagFilms
|
|