What's Happening?
Jeffrey Katzenberg, a former Hollywood mogul and founding partner of WndrCo, has invested in Nova Sky Stories, a drone light-show company founded by Kimbal Musk, the brother of Elon Musk. Katzenberg has joined the board of Nova Sky Stories and will serve as a strategic adviser. The investment is part of a $50 million funding round aimed at expanding Nova Sky's capabilities in large-scale live events, media partnerships, and original content production. Nova Sky, which acquired Intel's light drone division in 2022, is known for its innovative storytelling through drone light shows, having produced events for the Super Bowl and the NBA All-Star Game.
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Why It's Important?
The investment by WndrCo signifies a growing interest in innovative entertainment technologies that combine storytelling with cutting-edge drone technology. This move could potentially revolutionize live entertainment by offering a new medium for storytelling that draws audiences outdoors, contrasting with the current trend of screen-based entertainment. The expansion of Nova Sky's operations could lead to increased employment opportunities and collaborations with animators and musicians, fostering creativity in the entertainment industry. Additionally, the success of such ventures could inspire further investments in similar technologies, potentially reshaping the landscape of live events.
What's Next?
Nova Sky Stories plans to increase its drone production from 10,000 to over 30,000 by 2026, aiming to collaborate with various creatives to develop new drone-based storytelling projects. The company is set to debut its first 'sky story' co-developed with Katzenberg in 2026, with details to be announced later this year. As Nova Sky expands, it may establish new partnerships and explore additional revenue streams, such as stadium shows, alongside sports and concerts. The innovations expected in the next 12-18 months could enhance the complexity and immersion of live entertainment experiences.
