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. Katzenberg has joined the board and will serve as a strategic adviser, supporting Nova Sky's expansion into large-scale live events and media partnerships. Nova Sky, which uses up to 10,000 drones for its shows, plans to debut a new 'sky story' co-developed with Katzenberg in 2026. The investment is part of a $50 million funding round aimed at increasing drone production and collaborating with animators and musicians.
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Why It's Important?
The investment by Katzenberg signifies a shift towards innovative entertainment experiences, leveraging drone technology to create immersive storytelling in the sky. This move could redefine live entertainment, offering a new revenue stream for venues traditionally focused on sports and concerts. The partnership highlights the potential for technological advancements to enhance artistic expression, drawing audiences outdoors and fostering communal experiences. Nova Sky's growth could influence the entertainment industry by integrating cutting-edge technology with creative storytelling.
What's Next?
Nova Sky plans to increase its drone production from 10,000 to over 30,000 by 2026, aiming to collaborate with various creatives for new projects. The company is set to announce details of its first 'sky story' later this year, with expectations of expanding its ticket sales significantly. Katzenberg's involvement may attract further investment and partnerships, potentially leading to more large-scale events and media collaborations. The success of these initiatives could pave the way for similar ventures in the entertainment sector.
