BSkyB invest £29m in internet streaming service Roku
News Corporation and BSkyB have invested $45m (£29m) into internet TV start-up company, Roku.
Another unnamed company along with prior investors Menlo Venture and Globespan Capital Partners were also involved in the investment.
The company was founded in 2002 by Anthony Wood and claims to stream more than 500 entertainment channels to millions of customers in the US, Canada, UK and Ireland.
Each company has not revealed how much they invested into the fund, however, according to Sky’s financial results which were released today (July 26th), it appears they invested $10m (£6.5m) into the company.
As part of the investment, a deal was struck which will see Sky’s newly launched internet TV service, Now TV, available through Roku’s UK devices. Also, Sky will have the opportunity to rebrand and distribute versions of Roku’s streaming services in the future.
No details regarding News Corporation’s investment have been revealed, however, its chief digital officer, Jon Miller will join the board.
Miller said: “Roku’s significant technology advantage, coupled with a strong market position, places them in a unique position to be an integral part of the television landscape for years to come.”
Roku’s devices were launched in the UK in January, with more than 40 channels and films along with TV shows from Netflix – who were a previous investor – and Sony’s Crackle.
Founder, Anthony Wood said: “With the News Corporation and Sky strategic relationships, we are poised to further grow our leadership position and to become the TV distribution platform of the future.”