What do top execs do with their money when they leave Warner Bros.? It seems they invest in dot-coms.
After Terry Semel pumped $2 million in Gen Y Netcaster Digital Entertainment Network last month, Robert A. Daly, fellow former Warner Bros. chairman and co-CEO of Warner Bros. and Warner Music Group, has written a check for an undisclosed million-dollar figure to animation Netcaster Shockwave.com.
As part of the investment, Daly also joins the board of San Francisco-based Shockwave, which broadcasts games, animations and music programming online for free.
Since leaving Warners, Daly has been focusing on his chairman and CEO post overseeing all operations of the Los Angeles Dodgers.
“We are delighted to welcome Bob to Shockwave.com,” chairman and CEO Rob Burgess said. “His reputation, experience and track record in the entertainment industry will really help us take Shockwave.com to the next level.”
That next level includes securing more A-list talent to produce original programming for the site. Big names should entice more Netizens to log on and view the content. And with Daly on board, Shockwave achieves legitimacy in a fickle Hollywood — and it will be able to leverage Daly’s clout to attract more talent.
The Netcaster has been on a roll lately, securing its programming slate with content from heavyweights such as Tim Burton and “South Park” creators Matt Stone and Trey Parker to create original programming.
The site is said to be close to a deal with David Lynch, as well.
“The future of entertainment on the Web is here, and Shockwave.com is poised to lead that successful convergence,” Daly said. “This is a unique opportunity for me to work with a company with great assets and extraordinary potential.”