Telstra leads $35 million investment in Ooyala and becomes reseller -
Telstra leads $35 million investment in Ooyala and becomes reseller
Editor ©RapidTVNews | 19-06-2012
Ooyala has attracted $35 million in Series E investment in order to fund its drive to standardise digital video experiences provided by MSOs and TV programmers worldwide on its online video streaming, monetisation and discovery platform.
With its new investment, Ooyala say that it will use the new capital to fuel its market momentum with MSO’s and TV programmers, adding scale particularly to its operations outside of the US, building on its existing footprint in Europe, Asia, Australia and Latin America.
“The lines between online video and TV are blurring. Service operators everywhere are redefining their offerings for digital, multi-screen consumption. Ooyala has been the driving force the past few years, innovating and helping broadcasters and operators transition their business models to not only maintain but improve the economics of traditional television,” commented Jay Fulcher, chief executive officer of Ooyala.
Intriguingly the investment drive has been led by Australian telco Telstra along with existing investors Sierra Ventures, Rembrandt Venture Partners and CID Group participating in addition to other strategic investors. In addition to the funding round, Telstra and Ooyala are working on a commercial agreement that aims to result in Telstra becoming a major Ooyala customer and reseller, joining firms such as Telefónica and Yahoo! Japan and deploying Ooyala software, analytics and service offerings throughout Australia.
Telstra’s current multi-device IPTV offerings will be integrated with Ooyala’s online video technology and analytics. Telstra say that it will work closely with Ooyala on a smooth transition of services to allow its customers to reap the benefits of the new mode and that it will work with content owners to transition from traditional video delivery to IP-based distribution. In addition to the multi-device IPTV offerings, Telstra’s cable and media assets include Big Pond Broadband, Big Pond Movies, a 50% ownership in Foxtel and other assets.
“The industry is now standardizing around technology stacks that enable the future of IP-based distribution, “ explained Gary Traver, director of Telstra Media and now a member of Ooyala’s board of advisors. “With Ooyala's robustness and focus on personalisation and profitability, it is becoming the platform on which the next generation of large-scale deployments are built.”