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|Business Description:||A video on-demand service provider.|
After its spin-off from the Walt Disney Company, the burn rate of the business was too high for the funding remaining for operational efforts. Consumer capture rate and corresponding movie rentals were far below cash breakeven.
Diablo Management Group (DMG) was retained by Moviebeam, Inc in April 2006. The business had raised approximately $50 million in venture funding, but had burned through $40 million within nine months of its spin-off from the Walt Disney Company.
Richard Couch was retained as advisor to the business, the Board of Directors and the President. He assumed additional roles as Chairman of the Finance Committee and later as Chairman and CEO.