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Plex raises $50 million, wants to be a hub for your ‘entire universe of media’

Plex Logo 2021

  • Streaming media platform Plex simply introduced a progress funding spherical to the tune of $50 million.
  • In its press launch on the matter, the corporate says it desires to be “a single pane of glass for [your] whole universe of media.”
  • It appears like Plex desires to carry extra streaming providers into its hub-like service.

For years, folks have related Plex with private media collections. Whether or not it’s films, TV exhibits, music, or something in any respect, Plex can join you together with your owned information in a easy and easy-to-use interface.

Nevertheless, Plex additionally understands that many individuals are shifting away from the concept of even proudly owning media. With a veritable onslaught of streaming providers on the market, many individuals are shifting to easily counting on Netflix, Amazon Prime Video, Spotify, and others for all their media consumption wants.

Associated: The perfect video streaming providers: Netflix, Hulu, and plenty of extra

As we speak, Plex announced a progress funding spherical of a whopping $50 million. In its press launch on the matter, the corporate makes it abundantly clear that a big chunk of that cash goes to go in direction of bringing extra streaming providers into Plex. The aim is for the app to develop into nothing wanting “a single pane of glass for [your] whole universe of media.”

Clearly, most individuals’s “whole universe of media” includes the largest names in content material, like Netflix and YouTube. If Plex is ever going to be that “single pane of glass,” it’s going to wish to have these behemoths in its sights. After all, the corporate makes no point out of the providers it desires to carry to its platform. It already has offers with Crackle, music streaming service Tidal, and a number of other main Hollywood studios.

The tip aim for Plex

What Plex actually desires is to attach customers with the content material most fitted to them. If it have been in a position to do that, it will be fairly highly effective. For instance of what may very well be potential, take into consideration Netflix’s content material suggestion algorithm. You watch a documentary about serial killers and Netflix says, “Hey, listed here are some extra documentaries so that you can watch in addition to this Hollywood thriller a couple of serial killer.” Now, think about Plex doing that, however for every part.

Let’s say you hearken to an album by The Police on Tidal. The lead singer of The Police is Sting, and he’s additionally been in a bunch of films. Now, as a result of Plex is aware of you want The Police, it could suggest films that star Sting. That is only a tiny instance, however you’ll be able to see how highly effective it will be if there was one hub for all of your numerous providers.

After all, for this to work, all the main corporations have to be on board. Plex has $50 million to work with, however will that be sufficient to even get Netflix on the telephone? Time will inform.

To be taught extra about Plex, try this backgrounder video.

What do you think?

Written by virajthari

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