Spike Lee introduces second annual Babelgum film festival Even more obscure than struggling online video startup Joost is Babelgum — which on initial inspection looked at lot like Joost, but in a browser. The company has, however, has managed to hold a second online festival in a year , with Spike Lee again bringing a little legitimate luster to the now clearly annual event. Italian entrepreneur Silvio Scaglia's company has changed directions a couple of times since its first fest, the departure of a number of executives and the decision to invest €10 million in original content production. Of course, Lee has his own interest in promoting online projects, and one wonders if this is really about students at his alma mater NYU like he says it is.Lee's SpikeDDB advertising creative shop has been trying to push the interactive envelope with a user generated content project for Nokia and a contract with underground hip-hop social network Goldmic.com . Lee clearly understands that shilling online companies leads to publicity online and off. As for Babelgum, it's now starting to sound more like Jaman, another relatively obscure online video startup that's better known in foreign and independent film circles. If I had to pick which is the bigger growth market being exploited by this promotional partnership, I'd have to go with Lee's choice of advertising and branding.(Photo by Getty/Malcolm Taylor)