Someone didn’t get the Steve Jobs/EMI memo. DRM champions INTENT MediaWorks just landed $10 million in Series B funding from Greycroft Partners, SoftBank Capital, Allen & Co., and BDMI (Bertelsmann Digital Media Investments). In 2006 INTENT MediaWorks energetically beat the brush for sexy, high profile content relationships in hopes of boosting the declining profile of DRM and, by association, their own company.
So why the funding heat on such a clammy space? Blame it on friendly relations with D.C. lobbyists, and the power of name recognition. INTENT currently bottom feeds its service to digitally clueless music entities such as KOCH Entertainment (home to William Hung and nearly every other unsignable/has-been music act) and Violator Management (50 Cent, Diddy, Three 6 Mafia and Papoose). Yet another red flag that the VC space has more money than it knows what to do with.
