Paramount bets big on Web serials [CNET News]
Hulu has capitalized on providing ad-supported online video of television shows and movies to its users, but Paramount Digital Entertainment is betting that web re-runs isn't the only way to make online video profitable. The studio has created a professionally produced show, named "Circle of Eight," exclusively for web viewers. The show kicked off yesterday on social networking site MySpace.
President of Paramount Digital, Thomas Lesinski had this to say about the studio's plan for the show:
"I think the people who tell you that it can't be done have a different strategy than us. Our goal is to create professional content that is supported by digital distribution...I can't give you the budget (for Circle of Eight) but I can tell you that it was not inexpensive. (Others have tried this) but they weren't high-production value, scripted shows. We think it will be interesting to prove the platform can support high-quality."
Circle of Eight features clues for viewers to "unlock the mystery" that is the running plot of the show. It leverages its position on a social networking site, encouraging viewers to share their favorite episodes with their MySpace friends. Paramount has worked out product placement deals with several advertisers, including Mountain Dew, Adobe and Blockbuster.
The first three episodes of the web series are available at the series web site, and two more are set to be posted on November 3rd.
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