Building B to launch TV/’Net-delivered service
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New company created by execs from Paramount, Sony, others
By Jennifer Netherby -- Video Business, 8/20/2007
AUG. 20 | Building B, an upstart TV and movie delivery company launched by former execs from Paramount, Sony, Bell Labs and other leading companies, will join the increasingly crowded Internet video business with a hybrid TV/Internet-delivered movie service expected to launch this fall.
The company, which isn’t giving a launch date or many other details on its planned service, has closed a $17.5 million round of funding.
Building B plans to bring standard- and high-definition TV, Internet video, on-demand content and other video to the TV in one set-top box that plugs into the TV. TV programming will be sent wirelessly via broadcast to the boxes, while users also will be able to download movies and other Internet video content through the same device. The device also features a digital video recorder function, allowing users to pause and rewind programs.
“It’s a breakthrough service in that it works in today’s living rooms,” said co-founder and CEO Buno Pati.
The company will face a growing field of set-top box competitors, however, from Movie Gallery-owned MovieBeam to upstart Vudu, which plans to offer movie downloads from every major studio except Sony this fall through its own proprietary set-top box. Netflix also has hinted that it will launch some type of set-top box for its movie streaming service next year.
Pati wouldn’t say what content will be available on the new service but said users can expect to find the same channels they do through a cable service in addition to more personalized channels and niche video content. Building B is working with unnamed broadband service providers, networks and consumer electronics companies for its service.
Execs say the key to the service is getting all types of content easily to the TV in one device.
“Consumers don’t want another box or another service to do one piece of their video solution,” said Phil Wiser, co-founder and president. “The one thing we’re doing that’s very important is tying these things together.”
The company has pulled together a team of execs and board members that have held top positions at tech and entertainment companies. Pati was previously associate professor of computer technology at Harvard before heading several Silicon Valley start-ups, and Wiser, previously chief technology officer of Sony Corp. of America. Chief content officer Perry Simon ran Shore View Entertainment at Paramount Television, creating shows for a number of Viacom networks. Before that, Simon headed Viacom production.
Board members include Sony BMG Music Entertainment chair Andy Lack, Morgenthaler Ventures partner Bob Pavey and Omni Capital Group managing partner Arun Netravali.
“I have seen many changes in the entertainment industry, and Building B plans to deliver a very compelling video entertainment offering,” Lack said. “They are sure to change the TV experience with a true platform approach that embraces many of the industry players, including content providers, broadcasters, advertisers, telcos, consumer electronics companies, all for the benefit of the consumer.”
