It aims to do this by addressing one of the most frustrating aspects of today’s legal streaming market – fragmentation. The financing includes approximately $15 million in new capital for Plex, which the company intends to invest in its mission to become a one-stop-shop for movies and TV.
Yesterday, Plex revealed it had completed a growth equity round of $50 million from existing investor Intercap. $50m in Funding Secured: One-Stop Shop For Movies and TV However, this innovation was only the beginning and according to an announcement Wednesday, Plex has an even bigger plan on the horizon, one that could transform the market. However, by putting licensed content inside Plex, no external navigation is needed, making the switch to revenue-generating content a breeze. Legal movie and TV show content from major providers isn’t seen on pirate streaming sites, for example, meaning that users can’t be easily tempted away during their visits. This blurring of ‘markets’ is an intriguing proposition that hasn’t been strongly tested before. This means that when ‘pirate’ users fire up Plex, they are not only presented with their own unlicensed content libraries but also official content too. Since then, Plex has added free live TV channels and secured more than 240 additional content deals with the likes of Lionsgate, MGM, Sony, AMC and more. In 2019, it was revealed that Plex had struck licensing deals with Warner Bros to supply free, ad-supported movies and TV shows to Plex users. The problem then, is how to tempt these users away from the ‘dark’ side. So-called “ Plex for Share” services aside, direct piracy isn’t strictly possible within the system but when it is fed with movies and TV shows previously obtained from pirate sites, consumption of such media is transformed. While the company would prefer not to acknowledge it, Plex is the playback weapon of choice for millions of pirates. Playable on a wide range of devices including PCs, smart TVs and even smartphones, Plex has a strong cult following but in recent years has begun to spread its wings.
Since being founded in 2009, the Plex media server and service has grown from strength to strength and with 25 million users worldwide, is now a force to be reckoned with.Įarly adopters know Plex as a powerful media server capable of transforming local movie, TV show, and other libraries into a beautiful Netflix-style entertainment experience.
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