Keen to capitalize on the new technologies that are reshaping the film industry, the Tribeca Film Center said Friday it has made minority investments in two new-media firms.
Digital high-definition production company CineMuse and Internet streaming services company Beamz.com both sold stakes to Gotham-based Tribeca for undisclosed sums.
Beamz also announced that it has taken up residence in Tribeca’s Greenwich Street facilities. CineMuse is already headquartered in the building.
CineMuse president and CEO Ted Geier said his company has already been working closely with Tribeca, providing technological expertise to improve the quality of its productions.
The companies declined to discuss specific projects in the pipeline, but expect to expand their relationship following Friday’s announcement. That, according to Tribeca financial chief Trina Wyatt, could include coordinated marketing efforts for Tribeca films via CineMuse’s network of high-definition theaters in museums nationwide.
The museum network “is a very good place for us to do limited previews,” she said, “because the audiences there are well-matched to the type of films we produce.”
Beamz also will work closely with Tribeca, including potential efforts to improve production efficiency. Such services could include online streaming of dailies to remote locations worldwide to improve communication among the production crew, Wyatt said.
Synergy via proximity
CineMuse and Beamz also will benefit from their proximity in the Tribeca building and their mutual relationship to the production house, the two companies said. In particular, Beamz can draw from CineMuse’s expertise in high-definition video production to improve the quality of its own video streams for the ‘Net, Beamz chief technology officer Mike Rose said.
In turn, CineMuse will gain knowledge of streaming technologies that will allow it to move closer to the Holy Grail of streaming high-definition video content on demand, Geier said.
“Down the road, the availability of images (on the Web) and the quality of images will meet,” he said. “We’re learning from companies like Beamz about the technology to provide online content that looks great.”
As headquarters for these businesses, the Tribeca Film Center will continue to foster the sort of creative environment that founders Robert De Niro and Jane Rosenthal envisioned at its inception more than a decade ago, Rosenthal said.
“With the many new-media ventures that have sprung up in New York, people came to the film center because they were looking for access to other creative people,” Rosenthal said. “This seems the natural evolution” of that philosophy, she added.
These investments haven’t dampened Tribeca’s interest in an external production facility in Yonkers or Harrison, N.J. “We’re still in active conversations,” Rosenthal said.