Sky broadens horizons with online TV stake
Sky has invested $300,000 via a convertible debt security in a California-based rival to Netflix.
The media giant has invested in TV4 Entertainment, which owns a portfolio of special interest channels aimed at audiences underserved by traditional TV. The channels that TV4 owns are distributed across multiple online platforms in the US including Hulu, Amazon and YouTube.
The director of corporate business development at Sky, Emma Lloyd, said the move should help the company better understand niche audiences. "This exciting investment will help us develop our understanding of niche content genres and what audiences are most passionate about. We are committed to developing partnerships right across our business that support and extend our leadership position in content and innovation," Ms Lloyd said.
Founder and chief executive of TV4 Jon Cody said the investment was part of a round that he hoped would help TV4 expand internationally.
"Our goal in this round of investment was to bring on strategic global investors that could unlock business opportunities as we expand internationally over the next year," Mr Cody said.