If you have been to LindzonPalooza or Stocktoberfest you might have met Jason Pang, founder and CEO of Prima Cinema and even gotten a demo of the product.
I met Jason last year at Necker Island (Richard Branson’s paradise). He was telling me about his startup and I called him insane. Talk about a ‘Salmon Fishing in the Yemen’ idea! An underfunded San Diego hardware company trying to build a business with Hollywood Studois…ha! But, I myself practice #Lindzanity and after meeting a few more times in San Diego, I invested from my hedge fund (the investment was not suited for our Social Leverage fund).
I LOVE movies, even bad ones. Jason had solved all the hardware and technical issues right here in the United States and had thought of all the hollywood security issues. Jason had tremendous domain experience in the video industry from being an early employee of DIVX.
We agreed that the international market would be huge and that the studios had never really catered to the very affluent crowd.. Richard Branson and Oprah do not want to schlep to a movie theatre to see big movie releases.
Since my investment, Jason and team have secured distribution deals with Universal Pictures and Paramount. The Company has also secured an investment from IMAX ($IMAX , which I am also long in my fund) to license content and be an exclusive distributor in China.
Reed Hastings at Netflix is starting to make a lot of noise about first run movies being available to anyone. Let’s be honest….the studios will NEVER do this. It will take a lot more than technology to make that happen. The slow bleed from the top down still works well enough and an accretive product and service like Prima Cinema will extend that timeline even further.
There are so many directions the whole movie industry can go. There is so much movie making talent around the globe. Content is still what matters most in the long run. PRIMA is not just hardware, but an amazing software and distribution platform for the future.
Here is Jason on Bloomberg yesterday talking about his product and vision: