×
You will be redirected back to your article in seconds

FilmTrack Raises Capital, Brings on Former Miramax CEO

Mike Lang to Join FilmTrack Board

Former Miramax CEO Mike Lang has joined the board of FilmTrack, a digital content management firm that’s attracted a $20 million investment from global private equity company Insight Venture Partners.

FilmTrack will use the new money, which it announced on Monday, to build out its cloud-based product for keeping track of the life-cycle for intellectual property, including where content is licensed and when it will become available on various platforms. As part of its investment, Insight managing directors Peter Sobiloff and Nikitas Koutoupes will join FilmTrack’s board as well.

Lang began consulting for FilmTrack after he left Miramax in 2012, but got to know the digital services company during his time running the Miramax library. Lang, who became CEO right after Disney sold Miramax to a group of investors in 2010, inherited somewhat of an organizational mess. Boxes of scripts and other material sat in a warehouse in New Jersey, and the company had a content management system Lang found “inoperable.”

“It was a cluster of all this information,” Lang told Variety. “My first step was to find somebody who could take all that information, categorize it, and provide tools for my sales team to go out and license it.”

Miramax began using FilmTrack during Lang’s time with the company, and it continues to use the technology today, along with other clients including Lionsgate and the Weinstein Company. Lang left Miramax in March of last year, but not before the company had inked a number of lucrative digital and television licensing agreements with partners including Netflix, Hulu and Facebook.

The library’s exploitation led to a valuation of more than $800 million in 2011, up from its purchase price of $663 million just a year earlier.

“I’m so proud of what we were able to accomplish at Miramax,” Lang said. “This product was really a core reason for our success.”

Collapsing windows and new digital platforms have made licensing deals more complicated, and keeping track of those deals even more so. And Lang argues that a more complicated patchwork of rights deals requires sophisticated organizational tools.

“The world used to be dramatically different, you’d do three or four deals and then you’d call it a day,” Lang said. “Now they’re slicing and dicing these deals by the month.”

More Biz

  • Terry Back chairman ACF

    Veteran U.K. Media Investor Terry Back Joins ACF as Chairman

    CANNES — Veteran U.K. film industry investor Terry Back has joined ACF investment bank as chairman. ACF, headed by CEO Thomas Dey, has been at the forefront of the M&A activity around independent TV and film production outfits, mostly in the unscripted TV arena. ACF is in the midst of expanding its activities in the [...]

  • Santos Dumont

    Mipcom: International TV Output Picture Changing for U.S. Majors

    The global import-export strategies of the U.S. majors are in flux as the world’s major content companies gather this week in Cannes for the annual Mipcom market and conference. Disney, WarnerMedia and the other handful of media conglomerates that control the vast majority of the U.S. market are in the midst of a radical transition [...]

  • Jane Fonda Arrested

    Jane Fonda Arrested in D.C. During Climate Change Protest

    Jane Fonda was arrested on Friday in Washington, D.C. during a climate change protest, Variety has confirmed. “Today, the United States Capitol Police arrested 16 individuals for unlawfully demonstrating on the East Front of the U.S. Capitol,” Capitol Police communications director Eva Malecki said in a statement to Variety. She added that all were charged with crowding, [...]

  • Firefighters battle the Saddleridge fire in

    Saddleridge Fire Forces Evacuations, TV Production Shutdowns

    A wind-whipped wildfire has spread across parts of the San Fernando Valley north of Los Angeles and forced evacuations, threatened thousands of homes and closed parts of five major freeways. The Saddleridge fire has prompted mandatory evacuations affecting about 100,000 people between Porter Ranch, Granada Hills and Sylmar. Mandatory evacuations have been called for about [...]

  • amazon-studios

    Amazon Studios Pacts With Howard University for Entertainment Education Program

    Howard University and Amazon Studios have teamed to launch Howard Entertainment, a two-semester program based in Los Angeles that offers Howard students the ability to take courses, network with Amazon industry partners and gain work experience in the entertainment industry. The inaugural program will begin January. The curriculum and immersive experiences will start with academic [...]

  • Remembering Prince

    Prince Estate Slams Trump Campaign for Playing ‘Purple Rain’ at Minneapolis Rally

    The Prince Estate strongly criticized the Trump campaign for playing “Purple Rain” at a Minneapolis rally in which the president made multiple aggressive and juvenile comments about Democratic leaders, Bruce Springsteen, Beyonce and Jay-Z. In a statement posted on social media, the Estate wrote, “President Trump played Prince’s ‘Purple Rain’ tonight at a campaign event [...]

  • Charlie Rose Sexual Harassment

    Charlie Rose Wins Dismissal of Retaliation Claim in Harassment Suit

    A New York judge on Thursday dismissed a claim that Charlie Rose retaliated against three female employees who complained of sexual harassment. Judge Doris Ling-Cohan found that while Rose had allegedly disparaged the women — calling one a “f—ing idiot” and another a “f—ing kindergartner” — his comments did not amount to retaliation under the [...]

More From Our Brands

Access exclusive content