Juan Fernandez Gonzalez | 23-07-2013
A primarily Swedish investment group has given Magine, the Nordic cloud TV platform, the financial stability needed to expand the company internationally.
Thanks to a €19 million deal, Magine will speed up its establishment in Spain and Germany, where it has recently started to work.
It has been only a few months since the platform was successfully launched in Sweden, but Magine is already looking beyond Spain and Germany and has announced that, thanks to the financial agreement, it will release the service in five new markets before the end of the year.
Michael Werner, Magine's CEO explained that channels are interested in using the service because "we help them to build new ways of commercialisation while keeping their rights, and this potential has been understood by the investors".
In Sweden, Magine currently offers programming from channels including Discovery, the BBC, CNN, Eurosport and Turner. The service was launched in April and since this time its offering has been growing.
Through an Internet connection, customers can access on-demand and live TV, HD and DRM-protected content.
Magine is currently only available for Apple and Samsung devices, but the application will be soon released for other tablets and TVs.