Vator's Splash LA Event -- VCs & Entrepreneurs Unite!

This Thursday night, May 30 -- at the storied Hollywood Roosevelt hotel -- I will attend my first "Splash" event hosted by Vator (which bills itself as the "Voice of the Entrepreneur").  In fact, it is my first LA-based event since I announced my new role as CEO of Manatt Digital Media Ventures (where I help drive digital media investments, among other things).  Many such VC & entrepreneurial-focused networking events exist.  I attend these very selectively.  But, this one rises above the din for a number of reasons.

First, after being based in San Diego for a number of years, I am now based in LA and am immersing myself in the local entrepreneurial scene -- which is vibrant.  Very.  And increasingly.  Particularly on the digital media side of things (hence, my new role and new Manatt Digital Media).

Second, the agenda is full and compelling -- yes, you have your basic networking.  But, this one looks like the networking actually could be meaningful because Splash has a history of drawing the right mix of creative newbies and "movers and shakers."  Second, there is a full and varied slate of keynotes and panels -- not just one theme.  Third, there should be plenty of food and drink!  And finally, the venue is a good one.

In fact, here is an interesting bit of trivia.  The Hollywood Roosevelt hotel is especially near and dear to me because my grandmother-in-law, Luise Rainer (still kicking at age 103!), is the legendary Hollywood actress who picked up two back-to-back "Best Actress" Academy Awards at the hotel (which served as the venue for the Oscars at that time).

I will take several meetings -- and meet with several promising start-ups -- at the event.  I also will take notes for a post-event review.  Click this link to reach out and set something up.

Manatt Digital Media -- Our Manifesto & Our Mission

As you may know, I just recently started my new gig as CEO of Manatt Digital Media Ventures.  Exciting.  Rewarding.  Very different.  Judging by the phenomenal press coverage, others agree.

So, what precisely is Manatt Digital Media?  I get that question a lot. 

Well, here is our "Manifesto" with which we officially launched on May 15.  It is, in effect, our stake in the ground -- and it explains what we do, why we do it, and how we do it differently ... and boldly.

Manatt Digital Media is a disruptive new full-service digital media services business.  

  

What do we mean by disruptive?  

1. We offer the most comprehensive and impactful digital media services, bar none—empowering venture capital, strategic business consulting and partnerships, aggressive, smart negotiating, and unheard-of access to A-list artists and global brands. We tossed out the one-dimensional, cookie-cutter digital media “practice group” playbook used by other law firms. We created our own. 

2. Our clients range from the most innovative new artists, international superstar artists and global brands, to companies of all size and stage –start-up to growth to mature public companies—all of whom seek active collaboration and answers amid this ever-changing new frontier of digital media. 

3. Our leadership includes actual digital media “insiders” —i.e., business entrepreneurs and operators who have built and successfully sold digital media start-up and growth companies, and have been operators in major media companies. That means we understand your real-world issues and can speak your language. No ivory towers here.

4. We operate our own venture capital fund. That means that we put our money where our mouths are. We invest in pioneering entrepreneurs and their companies because we believe digital media presents never-before-seen opportunities. That is no line—we have invested in over 90 companies, including Pinterest and Etsy. We are hungry to invest more. 

5. We offer unmatched access to top music, motion picture and entertainment artists, ranging from international superstars to the most innovative independent and emerging artists. Our depth of relationships is unrivaled and extends to the biggest global brands. It is “win-win” matchmaking. Our artist and marketing clients seek to capitalize on new opportunities. Our digital media company clients develop them. We connect them like no other professional services business can.

6. All of this is grounded in the deep experience of our firm, Manatt, Phelps & Phillips, one of the world’s most respected and storied law firms for media, entertainment and advertising. We live and breathe media and digital media, and have for years where it all happens: Los Angeles, New York, and Silicon Valley. Meanwhile, others are just taking their first Hollywood lunch. 

Oklahoma Needs a Music Benefit ... NOW!

Hurricane Sandy -- devastation.  The music community -- including some of the biggest legends in rock and roll -- responded in record time with the 12-12-12 Concert for Sandy Relief.  Critical financial response.  Critical empathy for the human condition -- and the creation of a moment-in-time broad sense of "community."  Music served as a battle cry.  Catharsis.

And now, the devastating tornadoes in Oklahoma.  Utter devastation.  Terrible human suffering.

Time for another 12-12-12 type mobilization by the music world.  And, this needs to happen now.

Obviously, music cannot stop the suffering.  But, music certainly has the power to help heal.  Music uniquely can create a shared experience and empathetic broad-based community.  And, that means that music uniquely can serve as a "call to action" to all of us to respond any way we can -- financially or otherwise.

But, to maximize impact, a major music benefit must feed on the emotion of immediacy.  The tornadoes are in the news now ... they are in our collective consciousness.  That spotlight will soon fade away by press who will move on to other things while the Oklahoma suffering remains.

I heard today that country music superstar Toby Keith is in Moore, Oklahoma now -- a city devastated. Apparently his mother and sister live in Moore -- in fact, his sister's home was damaged.  Maybe he and others already are organizing this kind of massive event.

But, if not, this should happen now at the highest levels in media and entertainment.

I grew up in the Midwest.  I grew up with the constant threat of tornado devastation.  And, now we see it.  Middle America frequently is out of the spotlight.  It is time to focus not only on the devastation, but also what we can do about it on the Coasts.

Maybe this will be country music's time to make it happen ...

Songkick's Detour, Gathr -- The New Wave of Demand-Driven Media Distribution/Crowd-Funding

The Internet.  The promise of connectivity.  The promise of reaching out to anyone, anywhere.  The promise of new never-before-possible business models -- and, for media, disruptive new demand-driven distribution models.

For me, some of the most exciting audience-driven media "experiments" are happening right now.  Here are two of my favorites, which I urge you to check out:

(1) Songkick -- you may know the service/app.  It allows you to easily track your favorite artists and alert you when they come to play in a city near you, so that you never miss another live performance again.  You can, of course, also easily link to buy tix, etc.   Yes, that's cool -- but relatively straightforward.

But, want something even cooler?  Then check out Songkick's new "Detour" service.  This is something beyond cool -- it is downright revolutionary.  It is demand-driven distribution at its finest.  Specifically, Detour enables communities to essentially band together (pun intended), reach out directly to a specific artist or band, and then commit individual "micro-payments" (to pool their funds) to lure that artist/band to come to their community to play for them.  This is crowd-funding at its finest -- in a context particularly near-and-dear to me -- live music events.  In effect, the community itself creates a new tour date -- scheduling a concert that previously would not have been scheduled.  Together, the artist/band and the community create a new experience that was never before possible -- all enabled by the collective power of online community.  

(2) Gathr -- I have written about this service before.  This service is another great example of new demand-driven distribution in the media world via crowd-funding.  Gathr is analogous to Songkick's "Detour" but, instead of live music, Gathr focuses on independent films (yes, pun intended again) -- and Gathr gives indie filmmakers a fighting chance to find an audience for their frequently powerful, yet sadly frequently overlooked, films.  

How does Gathr do it?  A spate of "Movie Captains" -- i.e., passionate sponsors to get the film watched -- promote local screenings in individual cities and communities.  These ambassadors create audience demand -- individuals who commit to seeing the film by plunking down their credit cards in advance to reach a minimum threshold for an audience.  If that monetary tipping point is reached, then the film will be screened.  If not, then no credit cards are charged.

These are exciting new models.  These are exciting new sources of revenues for artists and content creators -- which, of course, spurs creativity.  These are exciting for consumers -- and fulfilling in myriad ways.

This innovative new companies deserve to succeed.  And, certainly, companies of this ilk will.  We are still in the very early innings of the demand-driven crowd-funding revolution.

Sun God Music Festival 2013 -- A Review

Last weekend, my wife and I attended the first Bottle Rock music festival in Napa -- here is my review.

Yesterday, I attended the Sun God music festival, which is held on the campus of the University of California, San Diego, each year.  Sounds relatively small, right?

Wrong.  Sun God is 20,000 -- outdoors -- amidst the beauty of San Diego.

Sun God has become a mini-Coachella.  It's that good.  The grounds are grassy and beautiful (like Coachella, and unlike Bottle Rock). The production is first-class all the way (like Coachella and Bottle Rock).  Over the years, Sun God has dialed it all in (the layout, the logistics).  And, the line-up is relatively strong for a festival that is essentially fully funded by the UCSD students themselves (via their annual student services fees).  Essentially, 3 stages -- one main stage for the bands (including one of my favorites for the day, Youngblood Hawke out of LA -- pictured here); a second stage for EDM, which has taken over the world (and is beginning to out-draw the main rock and roll stage at Sun God); and a "tent" venue that features various dance troups and other performances.

Sun God sits on a perfect venue for live music.  This has become an annual rite of passage for UCSD students -- and it was fun just to experience all of these kids meandering all around and getting a taste of a real festival experience.

But, do they really appreciate how unique it is for them?

Manatt Digital Media, My New CEO Gig -- TechCrunch, Variety, Billboard, Bloomberg, Others

On Wednesday, the cat was out of the bag -- I formally announced that I accepted the position of CEO at new Manatt Digital Media Ventures, which is part of new Manatt Digital Media (MDM) which is chaired by Hale Boggs.  Hale developed the vision for MDM, and we are partners driving it -- he on the legal side, and me on the business side/investment side (Hale oversees all Manatt investments).

And, that vision has resonated -- which is extremely heartening, exciting.  The news coverage by major publications was significant -- all the big names, and virtually all with major feature stories.  Here is just a slice, together with direct links to the stories:

TechCrunch -- "Sorenson Media CEO Peter Csathy Tapped to Lead Manatt's Digital Media Group"

Variety -- "Law Firm Manatt Taps Csathy to Head Digital Media Venture Arm"

Billboard -- "Manatt Launches Digital Media Investment Fund"

Bloomberg -- "Manatt ... Business of Law"

Dow Jones VentureWire -- "Law Firm Manatt Phelps Launches VC Arm for Digital Media Investments"

Los Angeles Business Journal -- "Manatt Launches Digital Media Investment Arm"

Daily Journal -- "Manatt Launches Consulting, Venture Arm for Digitally Minded" (front page story)

SocalTECH -- "Sorenson Media's Csathy Departs to New Digital Media Effort from Manatt"

Xconomy -- "Sorenson CEO Peter Csathy Goes Hollywood to Lead Manatt Venture Fund"

StreamingMediaBlog -- "Sorenson Media's CEO Steps Down, Takes On CEO Role of New VC Startup"

My New Gig -- My New Hats ... Or, Csathy Goes (Back) to Hollywood

Today is a big day for me, a very big day.  As of today, I am now officially CEO of Manatt Digital Media Ventures (here is the official press release).  That means I am now officially a VC.  And a business connector ... and a negotiator ... and deal-maker ... and consultant ... and ....  You get the point.

Where previously -- and for the past 4+ years -- I have worn one hat as CEO of online video innovator Sorenson Media (and have been honored to wear that hat), now I wear multiple hats.  Where before I was internally focused on the success of one storied company (and we had many), now I am primarily externally focused to help build successes for multiple companies.  I have simply chosen to move my career forward on a very different path at this point in my career.  And, it is a very exciting one for me -- layered, and with multiple ways to add value.  To make a difference.

So, what exactly is Manatt Digital Media Ventures?

It is a division of Manatt Digital Media, a disruptive new full-service digital media professional services business for entrepreneurs, ranging from individuals to companies of every size and stage –- start-up, growth, mature public.  Think of Manatt Digital Media as being a one-stop shop for empowering venture capital, strategic business consulting and partnerships, aggressive and smart negotiating, and unrivaled direct access to A-list artists and global brands.  There is nothing else like it.  And, all these services are grounded in the experience and resources of of Manatt, Phelps & Phillips, one of the most respected and storied law firms for the media, entertainment and advertising industries.  Manatt's roots run deep in the centers of media, entertainment, advertising and technology -- in Los Angeles, New York, and Silicon Valley -- and with the talent that makes it all possible within those centers.  In a word, Manatt is "connected."  That is very attractive to me.

As CEO of Manatt Digital Media Ventures, I am fortunate to help lead the charge at Manatt Digital Media with highly respected, connected, long-time digital media and VC specialist Hale Boggs, who will serve as Chairman of Manatt Digital Media and whose passion it was in the first place to create this new organization.  It was Hale's ambitious, aggressive and bold vision that attracted me to go this very different direction at this point in my career.  Put simply, it was an opportunity that I simply couldn't pass up.  

Hale, I and the rest of the Manatt Digital Media team are ready to hit it out of the park -- to provide unmatched value to every type of player in the digital media eco-system.  We feel bold about what we intend to do -- so bold, in fact, that we wrote a "Manifesto" on our new Manatt Digital Media website that just launched today in conjunction with this news (here is the link to our Manifesto).

And, for me, it gets event better.  I am not leaving Sorenson Media behind.  Not at all.  I will continue to help drive future successes for Sorenson Media -- and for Jim Sorenson -- as a board member.  Sorenson Media is near and dear to me and continues to be an important part of my professional life.  I absolutely believe in the company and the talent within it.  I absolutely respect and believe in Jim Sorenson and his passion for that company (a passion that already has resulted in a massive "win" when part of Sorenson Media spun-out in 2005 in what is still today the largest private equity deal in Utah history).  Sorenson Media team will achieve even greater things going forward in this increasingly video-driven multi-screen world.

But wait, there's still more!  (But, no, there are no ginzu knives part of this deal).  In my new role -- and at this point in my career -- I am able to focus on other types of pursuits that mean much to me.  Pursuits of passion that have significant non-profit and "give back" components.  Pursuits of passion that involve positive social action and achieve positive social impact.  Pursuits of passion that hopefully make a difference -- make the world a better place.  Make me and my family -- our kids and our friends -- more properly guided and internally rewarded and fulfilled.  Some of these projects include my wife, Luisa's, non-profit Giving Tree Movement, and my own passion project -- FM3 Experience, a world-class music festival that I am developing with an A-list team for launch in the Fall of 2014.  We have heavy-hitters aligned in both -- because they too are dreamers ... believers.

It is an exciting new time for me.  And, I feel fortunate -- very fortunate -- to be in this position at this point in my career and in my life.  People -- both professionally and personally (most of all, my wife, Luisa, and our two wonderful kids, Hunter and Luca) -- have made it all possible of course.  That is the most fortunate part of all of it -- the people with whom I am (and have been) connected.

Time to get started.  Attention all you digital media entrepreneurs out there, PITCH ME!

Bottle Rock Uncorked -- A Review of the New Music Festival

This weekend marks the inaugural Bottle Rock Music Festival in Napa -- 5 days of music in the wine country.  Long-time readers know that I am a music festival junkie.  This is my latest adventure -- and I write this Saturday morning as my wife and I prepare for today's festivities.

The verdict?

Bottle Rock delivers where it matters most.  The music.  Unlike Coachella -- which I recently experienced yet again and which was dominated by electronic dance music (EDM) -- Bottle Rock is down and dirty, pure, simple rock and roll.  The line-up is impressive.

Friday night's headliner was The Black Keys -- an unbelievably powerful onslaught of crunchy, bluesy guitar, punctuated by frantic drum beats.  I've seen the Keys before (at Outside Lands a couple years back and at Coachella one year ago), but not like this.  They have earned their stripes as headliners.  And, they are the real deal. THIS is rock and roll.  The Shins -- a favorite of mine -- warmed up the main stage before.  Sounded much better than when I saw them both at Coachella and Outside Lands a few years back.  Vocals stronger.  The band tighter.  But, still, the band pales in comparison to the Keys.  The Keys ARE rock and roll right now (which was proven again Saturday night by the anemic set put in by headliner Kings of Leon).  Edward Sharpe, on the other hand, was magnetic, despite the apparent flu (or being significantly under the influence).  That seemingly 50-piece band is good time flower-child rock and roll.  Perfect for the Napa setting.

The night before?  A band that is very very different.  The Avett Brothers.  Countrified folk and pop -- all fused together -- in a mix of beautiful melodies and meaningful lyrics.  These guys too are the real deal.  The crowd was taken away, me included.  A memorable set.

3 music stages at Bottle Rock -- with music running from noon at 10:30 every night.  When my wife and I first arrived Thursday early afternoon, crowds were thin.  Thought this first-time music festival could be a bust (for the promoters, that is).  But, it isn't.  Crowds were massive yesterday -- and no doubt will be the same today.  The promoters will be just fine.  As they should be.  They have delivered a great world-class festival.  No major hiccups -- which is saying a lot when there is no precedent.  Excellent food choices.  Enough bathrooms.

Despite some kinks (ticket snafus at the gates, a somewhat-pathetic VIP area -- c'mon guys invest in it!) -- and despite a somewhat dumpy venue that I did not expect in the heart of wine country (this is no grassy Coachella polo field) -- Bottle Rock works.  Bottle Rock delivers.  Bottle Rock undoubtedly will be back next year.  Bottle Rock likely is a music festival that is here to stay -- deservedly so.  Wine tasting by day.  Music by night.

And, the weather wants Bottle Rock to succeed as well.  Gorgeous weather in Napa this weekend.  In the 80s in the day.  All sun, all the time.

Enough writing.  I have some music to hear ...

Bitcoin Virtual Currency -- Not Real. Or Is It? Blue Chip VCs Think So

You likely have heard of Bitcoin, the virtual currency for online transactions that squeezes out the middleman of financial institutions and those pesky transactional fees.  Lots of chatter about it -- in particular, does it have a real chance of mass adoption -- especially for online micro-purchases?  Will governments allow that to happen, or squash it via international regulation?

Intriguingly, blue-chip VCs are believers.  Firms like Andreessen Horowitz and Union Square Ventures have recently made significant investments in Bitcoin-related start-ups (and Kleiner Perkins apparently is "actively looking" into making such investments.

Today's Wall Street Journal features a "must read" story about Bitcoin that effectively flags the relevant issues -- and gives a nice overview.

Definitely worth your time.

The New Independent Film Revolution Is Happening Online -- Disruptive, Democratizing

The times, they are a' changin' for independent films.  And, the disruptive force is the Internet.  Finally, its long-anticipated democratizing promise is here.  Right now.  So, take note.  This is incredibly promising for the indie film community which is struggling right now.

Here are some recent powerful examples of disruption to the historical traditional status quo:

(1) Indie Film Financing -- Kickstarter's crowd-funding promise for independent film is real, very real.  Case in point -- Garden State's Zach Braff is a big enough name to raise film financing the traditional way for his new film "Wish I Was Here."  But, he wanted to retain full creative control and do things his way.  So he turned to all of us to make this a reality.  His goal was to raise $2 million via Kickstarter and minimum micro-contributions of $1.  Well, he crossed that $2 million goal in an incredible 3 days -- and, he is now at nearly $2.4 million.  Not bad.  And, he didn't need to give any "piece" of the film's revenues or profits to any of his contributors.  Instead, they get certain cool "prizes" that start at the $10 contribution level and become "cooler" as those contributions escalate (check out his site to see the packages he offered, which include being an actor in the movie itself, screen credits, and sitting with Braff at the movie's premier).

(2) Indie Film Distribution -- two disruptive examples here:

The first is not a novel concept -- "day and date" (meaning simultaneous) availability online as well as in theaters.  Theater chains don't like that concept.  That's why while not a novel concept, "day and date" online distribution is still in its infancy.  But, Kristen Bell's new indie film "Some Girl(s)" chose this route for similar reasons to Zach Braff -- retention of more control (as well as driving a more direct revenue path to the filmmakers).  The producers chose new premium online service "Vimeo On Demand" for the film's online debut -- hoping to leverage Bell's more-than 1 million rabid Twitter followers (note, that these same followers recently used Kickstarter to raise over $5 million to crowd-fund Bell's upcoming "Veronica Mars" movie!).  So, what theatrical distribution chains will tolerate this path?  I highly doubt that the major chains will support it ... yet.  But, it is inevitable, because the audience -- especially the kids -- will demand it.

The second disruptive new indie film distribution concept is new -- offered by a new company, Gathr, which utilizes local "Movie Captains" (i.e., individual promoters -- like you and me) in cities around the country/globe to champion the film and drive local screenings.  These captains, together with the filmmakers, establish minimum ticket sales commitments for each screening.  And, if those individual screening commitments reach the "tipping point," then the screening happens.  If that tipping point is not reached, then no one's credit card is charged.  (By the way, Kickstarter uses the same "tipping point" concept -- i.e., no one's credit card is charged unless the minimum fund-raising goal is reached).  While new, and still highly experimental, Gathr works.  Insiders on the filmmaking side who have been the first to use Gathr have been thrilled by its results.

True that all of these disruptive new online services work best with a built-in audience either for an established actor, filmmaker or "cause" with a rabid following, the fundamental point remains -- indie filmmakers can now harness the promise and power of non-traditional and democratizing online services via grand experiments never before available.  And, the really cool thing is that potential audiences -- like me and you -- can directly contribute in getting certain stories told that should be told.

And, that's powerful!

NOTE -- I regularly write about independent filmmaking, particularly in the context of the digital media world.  I recently wrote a guest post for The Huffington Post titled "Indie Filmmakers and the Digital Dilemma" which discusses the surprising -- and misunderstood -- reality that digital films are more vulnerability to destruction than good old-fashioned celluloid and that, accordingly, we risk losing a whole generation of independent films to such degradation.

Sorenson Media's New Head of Marketing -- Dan Maiman

For those of you sports fans tracking Sorenson Media, you may have noticed a significant a change in our "appearance" of late -- our website -- our overall marketing in support of new Squeeze 9.

That's no accident.  That's due to new marketing blood in the form of Dan Maiman who, today, we officially announce as our new Director of Marketing.

Dan is an extremely talented.  I hired him personally, because I saw several things in him.  Marketing chops, sure (more on that in a second).  But, also artistry (creative talent).  And, most of all, passion.  Dan wanted a challenge -- he got it -- and he delivered.  Big time.  He plays to win.

You be the judge -- check out Sorenson Media's website (including the video right there in the main hero on our home page).  All of that is Dan's vision -- the slick theme (inspired by BMW and others), the updated premium branding that matches our premium products, the video itself (after all, we are a video company), and the music itself in that video.  And, that is just the beginning.  I saw him sweat the details first-hand.  He cares about all of it -- he understands how important it is to get it right.

Dan's pedigree is impeccable.  He comes to Sorenson Media from the world of action sports -- most recently at RockStar Energy Drinks.  Before that, Vans and Quicksilver.  That's a full trifecta of brands that get it right.  Dan has a breadth of impactful marketing knowledge -- and deep experience in digital media/marketing -- including significant first-hand experience with video production and distribution (hence, the tie-in to Sorenson Media).  He loves the challenge of taking our storied and global Sorenson Media brand to the next level (something I have no doubt that he will do).

He also is a life-time surfer himself -- as well as musician -- as well as ... well, you get the point.  Multi-talented.  And, oh yes, did I mention that he's a great guy?  Great energy.  Great integrity.  Great dedication.

Dan was raised in San Diego.  Now, he is back in San Diego at Sorenson Media ... where he belongs.

We are thrilled to welcome him to the team.