Turner Broadcasting has taken a majority stake in the live video streaming platform, iStreamPlanet.
The company will use iStreamPlanet technology to deliver OTT programming and shift “core technology infrastructure” to the cloud, a rep for Turner confirmed in a statement.
Founded in 2000, the Las Vegas-headquartered iStreamPlanet is designed to provide live-streaming services on multiple screens through a cloud- and software-based platform. Its clients include NBC Sports, Fox, AT&T and Microsoft.
According to Turner, the company’s technological requirements — including live news, simulcast networks, VOD and multi-platform specific content — are also set to “enhance iStreamPlanet’s commercial offering.”
Under the deal, iStreamPlanet will continue to operate as an independent company and make deals with third-party clients.
Turner chair and CEO John Martin (pictured) said in a statement that the company has successfully worked with iStreamPlanet in the past to deliver live-streaming content to millions of viewers. Events included the PGA Championship, the Super Bowl and the Olympics.
The partnership will expand the broadcaster’s capabilities to offer live events and, by bringing iStreamPlanet’s technology in-house, allow it to build up business opportunities across digital platforms.
The deal will also see the development of products and services for Turner’s new and existing businesses. Terms of the deal have not yet been disclosed.
Story courtesy of Realscreen