(PromoXtra) Time Warner has disclosed that it has made an investment in Gaia Online, a virtual world targeting a teen audience.

The size of the investment was not revealed, but press reports quote Gaia officials as saying the capital was not enough to give Time Warner directorial influence over the company.

The investment was part of a $12 million funding round completed late last year by the San Jose CA-based Gaia. Other participants in that funding included venture firms DAG Ventures, Benchmark Capital and Redpoint Ventures, and Sony Pictures, which announced its stake in Gaia last month — also without disclosing the sum of the investment.

Both Sony and Time Warner signed deals in December to stream movies and TV shows into virtual theaters created in the Gaia world. Members will be able to move their avatars into these theaters and watch 50 titles from each provider, including movies such as “Spider-Man,” “Ghost Rider,” “Batman Returns” and “Ace Ventura: Pet Detective.” Sony will eventually provide TV content, including its Minisode Network — TV episodes condensed and optimized for online viewing.

Gaia members will reportedly be charged $1.99 for each pay-per-view movie they screen within the world. Other video content will be free and supported with ad sales.

Founded in 2003, Gaia Online claims to have around 3 million monthly users and to see more than $1 million in virtual transactions each month.

Time Warner has disclosed that it has made an investment in Gaia Online, a virtual world targeting a teen audience.

The size of the investment was not revealed, but press reports quote Gaia officials as saying the capital was not enough to give Time Warner directorial influence over the company.

The investment was part of a $12 million funding round completed late last year by the San Jose CA-based Gaia. Other participants in that funding included venture firms DAG Ventures, Benchmark Capital and Redpoint Ventures, and Sony Pictures, which announced its stake in Gaia last month—also without disclosing the sum of the investment.

Both Sony and Time Warner signed deals in December to stream movies and TV shows into virtual theaters created in the Gaia world. Members will be able to move their avatars into these theaters and watch 50 titles from each provider, including movies such as “Spider-Man,” “Ghost Rider,” “Batman Returns” and “Ace Ventura: Pet Detective.” Sony will eventually provide TV content, including its Minisode Network—TV episodes condensed and optimized for online viewing.

Gaia members will reportedly be charged $1.99 for each pay-per-view movie they screen within the world. Other video content will be free and supported with ad sales.

Founded in 2003, Gaia Online claims to have around 3 million monthly users and to see more than $1 million in virtual transactions each month.

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