My favorite television network, Revision3, has landed $8 million in new funding from Greylock and several angel investors according to a report leaked by VentureBeat. Greylock is also the investor behind Digg, and was an early investor in DoubleClick, LinkedIn, and Facebook. The investment news also revealed that the network has around 2 million viewer downloads per month and two shows have reached profitability due to sponsorships. While the growth of the network has been slow, the uptick in popularity remains steady. At this rate, the network’s primary concern won’t be advertising dollars, but figuring out ways to keep shows like “The Totally Rad Show” on exclusive contract to Revision3.
Only one thing could ruin this burgeoning success story: The introduction of an experienced broadcast television executive to take over in order to allow Jay Adelson to focus on Digg (Adelson currently heads both Digg and Revision3). As Yahoo learned (the hard way) Internet content is a new space that benefits from fresh approaches rather than the outmoded ideas flowing from Hollywood and network TV. With Digg expanding, and Kevin Rose whispering about a new personal Internet project on the horizon, Revision3 fans will just have to cross their fingers and hope Adelson knows better than to take two steps back by installing someone from the old school.
*Pictured right, Alex Albrecht, the ever-present face of Revision3. Photo by ojbyrne
