Plex, an ad-supported video on demand and streaming media platform, said it now offers more than 200 free linear TV channels.
Plex launched its free live TV service in 2020 and said that it is now one of the most widely available AVOD/FAST services, available in 193 countries.
The company has bulked up its service through content licensing agreements with Lionsgate, AMC, A+E, Slightly Off by IFC, Popcornflix, Crackle, Euronews and WE tv along with some Spanish-language channels like Sony Canal Novelas, movies and shows from Revry, and kid’s content like Ryan and Friends, Toon Goggles, and Baby Shark. Some of the newest channels include Discovery Film, Christmas Lights, Commune and Eddie’s Wonderland.
Plex said it’s also working on giving content providers and advertisers “a deep knowledge of ad sales, analytics, data, and innovation to maximize campaign performance for marketers. Increased reach combined with fully transparent data, analytics, and efficient pricing are key pillars that help Plex partners grow their market share and sales.”
Earlier this year, Plex completed a growth equity round of $50 million, funds it plans to use toward further growth for its ad-supported streaming service.
The financing includes approximately $15 million in new capital for Plex and the remainder of the funds will be used to purchase shares and options from employees and shareholders. Plex CEO Keith Valory said his company will continue to increase investment in product and design but the majority of the funds will be used to build out the commercial side of the business – marketing, monetization and content.
“As the ad-supported business has matured, we are able to spend marketing dollars more efficiently to drive growth,” he said in an email.
Besides its FAST and AVOD services, Plex also gives consumers access to OTA broadcast channels, a DVR, streaming music via TIDAL and podcasts.