Sky has invested a further (€4.7 million) in 1Mainstream, the OTT startup that operates an automated platform for the distribution of linear and on-demand video to a wide range of internet-connected devices.
The investment, in the form of a convertible debt security, builds on the $2 million already invested by Sky in August 2013.
1Mainstream’s platform provides automation technology to enable content companies to launch OTT services across multiple platforms – such as Apple TV, Xbox, Android TV and Samsung – in only a matter of weeks and with almost no upfront costs.
Since the initial investment, Sky has used the 1Mainstream’s platform to broaden distribution of its OTT services such as Sky News and NOW TV to its growing digital audience.
Emma Lloyd, Sky’s Director of Corporate Business Development and Startup Investments, commented: “We are delighted to be demonstrating our commitment and belief in 1Mainstream by making this additional investment. Our partnership is a great example of the way in which we find innovative and forward-looking startups that support our key business goals. We’ve already seen the real value by extending the distribution of our content onto new platforms and into new geographies. The 1Mainstream team have some exciting new product ideas in the pipeline and we look forward to exploiting those in the future.”
Through its US office Sky has made a series of investments, most recently in the cross-platform network Whistle Sports; online video aggregator Pluto.TV, and US ad tech firm Sharethrough.
It’s most well-known investment is probably the Roku OTT platform, which has gone on to power Sky’s OTT offerings in the UK (NOW TV) and Germany.