Sept. 15--Entertainment news website Moviepilot on Tuesday announced a $16-million investment from a French media company and several other investors, joining a recent list of major investments in start-ups creating online content.
The new funding for Moviepilot, based in Venice, is a smaller amount than recent raises by Buzzfeed, Vox Media and Mashable. But it has a similar goal: adding the talent and equipment to produce more video, especially in concert with advertisers. Videos created collaboratively with sponsors is being viewed as an important revenue driver online.
Moviepilot's new investor Webedia, which runs several European entertainment websites, said accelerating the video push was key.
"It's remarkable how quickly Moviepilot has become the go-to destination for young entertainment fans in the U.S., even with stiff competition for millennial audiences from players like Buzzfeed, Vox Media and Vice," Webedia Chairman Veronique Morali said in a statement.
Moviepilot, which has focused on reviews, news and commentary related to television shows and movies, also plans to increase coverage of video games. The company receives 25 million unique online visitors each month, 75% of whom it says are 35 or younger.
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