Cloud based television services company Magine gets $19mn funding

 BENGALURU: Magine, a Swedish cloud-based television operator, announced today that it has obtained an additional round of funding to the extent of $19mn that will enable it to expand the supply of its recently launched service of television content online (OTT).

Michael Werner, Matthias Hjelmstedt, Erik Wikstrom, Xavier Ritort and Hakan Tranvik, founders of Magine, obtained the funds through an agreement with a group of Swedish and international investors.

The funding will help Magine to accelerate significantly the time for the implementation of the platform at the international level. Within a few a few months the service will expand from Sweden and will be launched soon in its key television markets of Germany and Spain. It will be available for users across at least five other markets before the end of the year says Magine.

Magine president Michael Werner says "Magine is not just another television platform, but a whole new way to access and enjoy content. It is a service that requires a subscription and has been designed to make people return to following television programs. Because of this, broadcasters and content providers are very likely to use it. Magine helps them to create new forms of monetization while respecting the system of existing copyrights. Our investors realized immediately the extraordinary potential for discovery of content and social interactions available to users, and the service's ability to generate new revenue streams."

In Sweden, Magine hosts some of the most famous brands and channels in the world. These includr Discovery, CNN International, BBC, Eurosport, National Geographic, Nickelodeon and Cartoon Network, in addition to the national broadcasters SVT and TV4. The company has also initiated talks with numerous media and international groups engaged in the entertainment industry, and expect further announcements in this regard later this month.

Last April, Magine was presented to the international television and community members for content production during MIPTV (International market of television), one of the major international events in Europe dedicated to the entertainment industry. The presentation of the service has been hailed as the highlight of the event by commentators, journalists and leading figures in the industry.

Magine is the new television. It is not a new device to follow television programs, but a service that offers absolute freedom to follow live TV, pause or resume viewing at a later time for all channels and all devices at any time, in compliance with the existing copyright. It offers high speed, excellent quality and images protected by DRM (Digital Rights Management, Digital Rights Management) through any type of Internet connection available. It is currently available on Apple devices and the Samsung smart TVs. Soon it will be possible to use the service on other television platforms and tablets with Android operating system.

Also read:

Mipcom unveils keynote line-up reflecting the new golden age of television

MipTV: growing stronger in 50th year; India registers increased presence

Latest Reads
Highly-beneficial interactions take place at Broadcast India '16

The 26th Broadcast India Show concluded over the weekend in Mumbai, and was easily the most exciting Broadcast India Show yet. With thousands of eager, high-quality trade visitors swarming the show floor, a sentiment signalling highly-beneficial exchanges and interactions echoed through the halls...

Technology Software Applications
India, China to propel APAC, beat CAS Europe market share

APAC is expected to overtake the market share of Europe in future due to an increasing demand for digital TV set-up boxes in countries such as China and India. North America and Europe dominated the global CAS market in 2015. APAC region is estimated to mark a growth rate of 12.0 per cent CAGR...

Technology Hardware Set-top Boxes
India lucrative market for 4K UHD STBs: Grand View Research

Here’s a view on the demand for 4K or ultra high definition (UHD) set-top boxes (STBs) in India.

Technology Hardware Set-top Boxes
Infor appoints Dass as south Asian subcontinent V-P

Infor, a leading provider of business applications specialized by industry and built for the cloud, has appointed Ashish Dass as the vice president and managing director for the south Asian subcontinent. Infor software helps eliminate the need for costly customization through embedded deep...

Technology Software Applications
Siti & DishTV opt for Conax conditional access

The Essel group has been using Conax’s tech for sometime now for its Siti Network (earlier known as Siti Cable). Now the group has extended that partnership for another product for both Siti Network and DTH operator Dish TV India. This time it is for the cardless set top boxes that the two are...

Technology Hardware Set-top Boxes
Imagine Communications extends functionality of Selenio One unified transcoding platform to OTT

MUMBAI: Imagine Communications, empowering the media and entertainment industry through transformative innovation, today introduced a high-density adaptive bitrate (ABR) transcoding product built on Selenio One™, the company’s software-defined linear transcoding platform. Selenio One is designed...

Technology Hardware Components
DJI Makes Your Smartphone Smarter with the New Osmo Mobile

DJI, the world leader in creative camera technology, Thursday launched the Osmo Mobile, an extension for smartphones that turns them into intelligent, precision camera systems.

Technology Hardware Components
Prime Focus Tech gets funding from PE firm Ambit Pragma

MUMBAI: Prime Focus Technologies (PFT) – the technology offshoot of media services company Prime Focus - informed the Bombay stock exchange today that it had received its first round of funding from growth capital private equity fund Ambit Pragma.

Technology Software Applications
Three new products developed by C-DOT launched on its Foundation Day

Communications Minister Manoj Sinha today expressed the hope that 100,000 Gram Panchayats (GPs) will be connected through Optical Fibre Cable (OFC) by March next to set up a network infrastructure to serve the rural masses.

Technology Hardware Distribution

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories