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Mitsui to invest in US media biz incubator FactoryMade Ventures
MUMBAI: Japanese company Mitsui & Co. has agreed to invest in FactoryMade Ventures, a US media business incubator, and also to form a strategic alliance to jointly create, incubate and fund content, intellectual property and new media businesses.
With the market size of approximately $300 billion, the US media market is the largest in the world and expected to show stable increase, due to continuous population driven by Latino and economic growth. The market is also home to new technology and business model, such as video-on-demand and SNS, which will quickly spill over to and have significant influence over the global market.
With its headquarters in Los Angeles, California, FactoryMade is an incubator that creates innovative media business leveraging its network in Hollywood and profound knowledge in the industry. It enjoys a reputation within the industry with its track record of building El Rey Network, a new television channel targeting increasing Latino audiences.
Mitsui has been long engaged in satellite broadcasting businesses, pay channel businesses and content businesses in Japan. Leveraging its knowledge and capability, Mitsui aims to enter into the US media market by making the investment in FactoryMade.
Positioning FactoryMade as a strategic partner to make an entry into US media market with the investment, Mitsui aims to participate in the projects to be developed by the company.