Sky backs online video startup Pluto.TV
Sky has invested $500,000 in LA-based online video aggregator Pluto.TV as part of its strategy to drive innovation by partnering with pioneering technology companies.
Pluto.TV is an online television platform that aggregates video content from across the web and programs it into themed TV channels. By using a combination of technology, data and a team of specialist editors, Pluto.TV offers viewers the best of online video through a portfolio of TV channels spanning traditional genres including music, news, sports, comedy and entertainment as well as dedicated channels catering to specific interests such as hip-hop, surfing, video gaming, stand-up comedy, art and fashion.
The service is currently available in the US across a range of platforms, including iOS, Android, Google Chromecast, Amazon Kindle Fire and Fire TV, as well as through the web.
Sky is the biggest investor in TV content in Britain, spending a total of £2.6bn each year across entertainment, sport, movies and news. The relationship with Pluto.TV will provide Sky with valuable insight into the way new forms of content are shaping emerging trends in the way people find and watch TV. At the same time, Pluto.TV will leverage Sky’s experience in packaging and promoting content, particularly through strong and engaging channel brands.
The partnership with Pluto.TV builds on Sky’s on-going programme of investment in innovative startups and follows an investment in the US ad tech firm Sharethrough announced last week. Sky has previously invested in a number of other pioneering US technology companies, including the IP streaming service provider Roku, the immersive 360 video specialists Jaunt and the video delivery firm 1 Mainstream.
Earlier this year, Sky also opened up a dedicated office in San Francisco to help it continue to forge new partnership with tech startups.
Emma Lloyd, Director, Corporate Business Development, Sky, commented: “This partnership enables Sky to draw on the ground-breaking work Pluto.TV are doing to help viewers discover and enjoy the best of online TV through an intuitive and editorially rich TV platform. As we learn about new trends in the way people watch TV, we look forward to sharing our own expertise in content creation, packaging and promotion.”
Tom Ryan, CEO, Pluto.TV, commented: “We're excited to have one of the world's leading entertainment and communications companies as an investor in Pluto.TV. Sky's considerable strengths in TV content and distribution and their leading position in Europe will be invaluable to us as we scale our business. We look forward to collaborating broadly with Sky to rapidly grow and deliver our online video platform globally across web, mobile and connected TVs.”
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