The service, which provides cloud-based live TV and catch-up programming across Apple devices and Samsung smart TVs, yesterday secured US$19 million (€15 million) in investment and today launched a Spanish beta service.
“The Spanish marketplace is an ideal one for Magine, as it enjoys high broadband penetration with a relatively low pay TV penetration. When combining those two factors the Magine solution seemed an obvious one to the Spanish channels and content providers who were keen to be part of a service that offered their viewers a highly competitive subscription package,” said Mattias Hjelmstedt, CEO and co-founder, Magine.
Magine first launched in Sweden just before MIPTV, as DTVE sister publication TBI revealed at the time. It has subsequently gone live in Germany and now in Spain. Plans to launch the service on more TV platforms and Android tablets are in the works.
The company also says it is in “advanced negotiations with a number of major international media and entertainment groups” and predicts it will launch in “at least another four more European territories by the end of the year.”