T3Media Launching New Self-Service Platform For Licensing Digital Content
Denver-based T3Media, formerly known as Thought Equity Motion, has launched a new self-service platform for licensing digital content called Paya. Functioning somewhat similar to eBay, StubHub, Craigslist or other digital marketplaces, Paya allows users to list videos and photos from their own personal websites or social networking pages, and list prices and entertain offers to license that content. Sellers keep 80% of the proceeds from each transaction, and the platform is expected to be a boon for amateur filmmakers and photographers looking for additional means to expose their work to broader audiences and generate revenue. T3Media additionally has embedded tagging functionality in which users with YouTube and Vimeo videos can place a Paya link directly on their video pages to enable one-click licensing. "Digital goods have been hard to sell in many instances, and we're looking to dig across several industries with this, including sports," said T3Media CEO & Founder Kevin Schaff. "Distribution for digital content isn't keeping up at all with the scale and pace of content creation, particularly on social networks, and this is our move to address that." Specific channels within the Paya platform include sports licensing and citizen journalism. Several existing T3Media commercial clients such as the NCAA are expected to eventually be both buyers and sellers on the Paya platform, Schaff said.