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Drew Lipsher, a partner at early-stage venture capital firm Greycroft Partners LLC, says the continued pressure on traditional media companies means opportunities for startups. "It is a great time for a lot of young companies focusing on digital media," says Lipsher in this episode of The Deal's Behind the Money show. "The biggest challenge is, How do you build a company that's a large enough scale so that it's attractive to the major media companies?" The startups that have the best opportunities fall into two categories: those that have the ability to scale in consumption, audience or revenues; and those that are building "pieces of the services side of the media business that are going to help drive the scale," says Lipsher. In the latter camp, there are opportunities for new businesses to develop advertising metrics, such as measuring brand lift and consumer engagement. Before becoming a venture capitalist, Lipsher, 42, had a long career in media, serving in executive roles at IGA, BMG Entertainment and Warner Music Group. At Greycroft, he has led the firm's investments in ImageSpan LLC, a service provider for digital content production, licensing and acquisition; MDX Medical LLC, developer of physician finder Vitals.com; and Worldwide Biggies, a digital entertainment studio founded by Albie Hecht, former president of Nickelodeon Entertainment and Spike TV. Watch the video below or download it at iTunes. - Mary Kathleen Flynn
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