DreamWorks Plans to Become a Tech Company, Releases Free Ptch App
DreamWorks has recently released a free iOS-based app called Ptch, which gives iPhone and iPad users the ability to remix videos, photos, and songs into 60 second video shorts termed as “Ptches”. The purpose of the app is to make video editing as simple and straightforward as taking a photograph on a smartphone, and as expected of any mobile based app, comes with a wealth of options for sharing content with friends. While currently provided free of charge, the app is planned to turn into a freemium model – with future add on content and filters requiring purchase.
The Ptch project is currently helmed by Dreamworks CTO Ed Leonard, who was formerly the director of R & D at Disney Animation. Leonard was instrumental in convincing Dreamworks CEO Jeffrey Katzenberg into launching a new company called DWA Investments, which currently has 15 employees made out of former DW staffers who took paycuts in exchange for stock options.
“There’s a lot of ambition at DreamWorks, they’re thinking about how to leverage ambition on the film side and how to reinvent themselves as more of a technology company than a movie company and really leverage all that value. If you get close to what Jeffrey is thinking about in terms of the DreamWorks brand … Jeffrey really believes in the intersection that’s happening between technology and entertainment,” says Leonard in a recent interview with BetaBeat.com