×
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

  • Contract Placeholder Business WGA ATA Agent

    Signs of Solidarity and Strain Emerge as Week 2 of WGA-Talent Agency Standoff Begins

    Hundreds of WGA members rallied solidly behind their union last week as the industry grappled with uncertainties spurred by the sudden break between writers and their talent agency representatives. But as the standoff heads into its second week, signs of strain among some WGA members are beginning to emerge. Shalom Auslander, author and creator of [...]

  • Woodstock 50 Festival Postpones Ticket On-Sale

    Woodstock 50 Festival Postpones Ticket On-Sale Date

    UPDATED: The troubled Woodstock 50 festival has run into more difficulties, as multiple sources told Variety late Friday that the April 22 on-sale date for the event has been postponed. Agents for artists scheduled to perform at the festival — which include Jay-Z, Dead & Company, Chance the Rapper, Miley Cyrus, Imagine Dragons and Halsey [...]

  • National Enquirer - Jeff Bezos

    Hudson Media CEO James Cohen Purchases the National Enquirer

    Hudson Media’s CEO James Cohen announced Thursday that he will purchase the National Enquirer as well as American Media’s other tabloids, the Globe and the National Examiner. With the purchase of the National Enquirer, which Cohen reportedly bought for $100 million, he plans to strengthen their collaborative efforts, documentary shows, weekly podcasts, and theme parks. [...]

  • Amazon

    Amazon Music’s Free Tier Is More Advertising Play Than Spotify Killer, Analysts Say

    When news began to spread last week that Amazon Music’s long-anticipated free streaming tier was imminent, headlines emerged about its threat to Spotify and Apple Music, with some stories saying that Spotify’s stock price dropped in response to the news. But not only was today’s launch of the free tier basically a soft one — [...]

  • Nicki MinajCFDA Vogue Fashion Fund Dinner,

    Nicki Minaj Parts Ways With Longtime Managers (EXCLUSIVE)

    Nicki Minaj has parted ways with Gee Roberson and Cortez Bryant and Blueprint/ Maverick Management, a source close to the situation confirms to Variety. She had worked with the pair for the majority of her career. The source says the decision was mutual and amicable, and there was no specific reason for the split, adding [...]

  • Amazon

    Amazon Music Launches Free Streaming Tier, Through Alexa Only (for Now)

    Amazon Music today basically soft-launched its free streaming tier, in which U.S. customers of its Alexa voice assistant will have access to top Amazon Music playlists and thousands of stations, at no cost. The limited access that the new free service provides — it’s only available through Alexa, and when the listener requests a song, [...]

More From Our Brands

Access exclusive content