For a while before the economy turned south, digital film production specifically tailored for internet distribution was all the rage. Turn back the clock a year or a year and half ago and Deca, 60 Frames, Next New Networks, and a handful of others all clamored for position in what they hoped would become a solid market. Even Microsoft was in the act with its own Digital Upfront. But things are different now: with ad markets weak and competition for consumer attention also large (Hulu, YouTube, Network TV etc), the revenue stream many of these startups counted on has yet to find a solid foundation.
60 Frames, which was started in 2007 with $3.5m in outside funding and incubated with the support of talent agency UTA and ad agency Spot Runner, appears to be a casualty.
Despite association in the press with top tier talent like the Coen Brothers and the successful sale of episodes to Sony’s Crackle and the WB.com, the money apparently wasn’t there to stay open.
The Hollywood Reporter is reporting the last of the staff has been let go and according to a “source close to the company” 60 Frames is “suspending operations.”
•NBC Cuts Quarterlife
• Metue Interview: Talking Net Video with Rob Barnett of My Damn Channel
•HBO Funds Funny or Die
•Comedy.com, Funny or Laughable
•Meet Deca: Another Internet Video Studio
•Revver Saved and Salvaged With Emergency Sale
•Warner Brothers Throws Weight into Internet Specific Content
•National Banana and 60 Frames Get Funded
•Grouper reinvented: Introducing Crackle
•HBO’s This Just In – On No More