Sky has made a $4 million equity investment in multiscreen video company Elemental Technologies in an effort to help create a “more reliable experience” for customers.
Elemental, a US-based company, provides software that enables broadcasters and pay TV operators to stream live and on-demand content to laptops, tablets, smartphones and TVs.
The investment builds on Sky’s existing commercial relationship with Elemental for Sky Go, as well as giving Sky access to the Elemental leadership team, which Sky has said will help its long-term understanding and insight into future over-the-top developments.
The financing is part of a $14.5 million funding led by Telstra, Australia’s largest telecom and information services company, along with participation from Elemental’s existing investors.
“Internet-delivered video is fundamental to Sky’s business and will continue to grow in importance as more and more customers access content across multiple screens and devices,” said Emma Lloyd, Sky’s director of corporate business development and start-up investments.
“By investing in Elemental, we not only strengthen our existing commercial partnership, but we have the opportunity to share perspectives and insight into how the combination of new technologies and changing customer demands will shape the video landscape of the future.”
Sam Blackman, CEO and co-founder of Elemental Technologies, added: “As the video industry transitions to a keen focus on the viewer, Sky is defining what high-quality video on any device can be. We’re pleased that our implementation of software-defined video is resonating across the industry and has the economic and strategic support of an industry leader like Sky.”
