BSkyB Invests in California Tech Start-up 1 Mainstream
LONDON – U.K. TV giant BSkyB said on Monday that it has invested in California-based technology start-up 1 Mainstream, which operates an app creation platform for the distribution and monetization of TV content on tablets and other devices and services.
BSkyB has also struck a commercial agreement with 1 Mainstream covering the use of its technology. Financial details of the commercial deal weren't disclosed.
In a regulatory filing, BSkyB, in which Rupert Murdoch's 21st Century Fox owns a 39 percent stake, said it has acquired a $2 million convertible debt security in the tech firm. Such securities typically are convertible into an equity stake.
"1 Mainstream has built a platform, which reduces the time and financial resource required to launch streaming video applications across a range of third-party devices, such as tablets, smart TVs, game consoles and Internet-protocol streaming devices," BSkyB said.
On its website, 1 Mainstream says it has brought BSkyB's Sky News to Apple TV and Roku, among other things. It has also worked on getting content on Google TV and TiVo.
"Create beautiful looking native apps in hours with the push of a button," the company's site says. "1 Mainstream was built so that content networks and distributors can focus on content and viewers, while we worry about apps, devices, streaming and billing."