• by Joe Mandese  @mp_joemandese, July 12, 2007

In a move to bring some order to the explosive growth of the online video marketplace for industry pros--including actors, writers, directors, and perhaps most importantly, advertisers and agencies--Spot Runner and big Hollywood talent agency UTA have incubated a new kind of video content studio.

The firm, dubbed 60Frames Entertainment, will provide financing, distribution and advertising services for professionally produced video programming to fill a void in the fast-growing, but still largely amateurish marketplace dominated by consumer-generated content on YouTube, MySpace and various viral videos.

There simply isn't enough high-quality inventory online in terms of video content," says Brent Weinstein, the former head of digital operations at the United Talent Agency, who was named CEO of 60Frames. "A lot of it is consumer-generated and not very advertiser-friendly. We think there is an amazing opportunity to give advertisers an opportunity to have high-quality content to advertise in."

The "we" includes UTA and Internet-based advertising and media services agency Spot Runner, which will serve as the advertising sales arm, representing the new video content on Madison Avenue.

Although Spot Runner--which itself is backed by big agency holding companies Interpublic and WPP--is best known for helping smaller, so-called "long tail" advertisers create TV advertising and media buys, 60Frames' projects will initially be aimed at bigger advertisers and agencies looking to get involved in the early stages of professionally produced online video content. Producers and directors Joel and Ethan Coen have already signed on to develop 60Frames projects, and Weinstein says other big names are soon to follow.

"We're going to be working through Spot Runner with major brands and advertisers to provide unique opportunities including pre-roll and post-roll, product placement and other ways of integrating their brands with high-quality video content," Weinstein says.

Projects will vary depending on the mix of artists involved, the audience the content is aimed at, and the nature of the distribution mix. 60Frames will handle both the front-end of financing and distribution, as well as back-end deals, providing an easy structure for content creators to participate in the online video marketplace. 60Frames will also act as a syndicator, arranging distribution across various sites and portals to maximize the reach of content depending on the nature of the programming.

"Right now, we're announcing the company, its formation and intent. In a few weeks we will be making announcements about additional partners, distribution deals and key executives and artists. Our intent is to be in development on our first batch of content very soon."