Irvine millionaire David Samuels has been relatively dormant since he sold his $250 million State of the Art software company in 1991. However, that all changed last week when he launched KoldCast.tv.
As he stated in a recent interview, “The monopoly that the major networks have held for so long is now subject to penetration by companies like our own.”
Deep pockets, however, remain to be a factor in the entertainment industry, even if the distribution is online. Samuels estimates to be burning “close to six figures a month” since KoldCast TV went live last week. But even with the high costs, Samuels remains confident in his new venture.
In the coming months, KoldCast TV is expected to go through some enormous growth. Here’s the company’s checklist for this year:
- Spending an additional 10 million to promote the brand
- Hiring a team of 40 employees
- Hosting auditions for new web series
- Offering different channels ranging from How-To videos to On-The-Street Interviews
- Hiring a contract company to handle advertising
- Working with students at the nation’s top film schools
Sure, it all sounds very promising now, but is the company stretching itself too far? Personally, I think they should focus on one genre or series rather than trying to tackle them all. Then again, I’m not a millionaire with money to burn.
Off-Road Racing Channel Promo
This is the trailer for the Off-Road Racing channel found on KoldCast TV’s sport section. You can view the higher quality version of this clip as well as many HD videos on KoldCast.tv. But don’t be surprised by the lack of content; the site is still in beta stages.