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Turner Broadcasting Participates in iStreamPlanet's Series A Financing Led by Intel CapitalTop Digital Media Video Workflow Solutions and Applications Company to Further Drive Growth and Leadership Position With an Additional Capital Investment (January 31, 2012)
LAS VEGAS, NV -- (Marketwire) -- 01/31/12 -- iStreamPlanet, a leader in live Internet managed broadcast services, in addition to on-premises and cloud-based automated video workflow solutions and applications, announced today that Turner Broadcasting System, Inc. (TBS, Inc.) is making an investment in iStreamPlanet's Series A round of funding which is being led by Intel Capital. The investment stems from the work the two companies have completed on several live events, including bringing to life the world's first in browser 3D stereoscopic experience, the 2010 NASCAR Coca Cola 400 from Daytona International Speedway, and the discussions around automated video workflow, authentication and cross platform ads insertion for much of their multi-screen strategy.
"We are very excited to have such a strong strategic investor join in supporting our company," said Mio Babic, CEO of iStreamPlanet. "Turner is one of the leaders in live broadcast and a true innovator in both the broadcast and digital space. We are looking forward to the opportunity to work with them in the future on their high impact digital events and overall multi-screen strategy."
iStreamPlanet has managed some of the world's largest sporting events, such as the 2010 Vancouver Olympic Games, NBC Sports' Sunday Night Football and the Championships at Wimbledon, along with the US Open Golf, Notre Dame College Football, Ryder Cup and the Kentucky Derby. iStreamPlanet will look to continue their efforts with Turner's lineup of prestigious programming from CNN, Carton Network, TBS and TNT.
"iStreamPlanet is leading the way in live video workflow solutions so that networks such as ours can capitalize on the programming investments we have made," said Brooks Tobey, SVP Platforms and Systems for TBS, Inc.'s Audience and Multiplatform Technology division. "We are pleased to continue our partnership with them in order to deliver the highest quality experience to our viewers."
iStreamPlanet expects to use the funds to further accelerate product development and move into the cloud to offer dynamic scaling, high reliability and elasticity based on customer demand. Additionally, to spearhead and manage its growing portfolio of strategic partners, iStreamPlanet has hired Chris Carper as Sr. Vice President of Strategy and Business Development. Prior to iStreamPlanet, Chris spent 16 years at Microsoft where he was responsible for development and execution of the business development strategy within the Media and Entertainment industry on Windows Azure.
iStreamPlanet® develops and operates content creation, management, security, monetization and delivery products and services that bring media experiences to life across multiple screens by enabling content owners to create content once and deliver anywhere. This includes Over-the-Top (OTT) and TV Everywhere (TV-E) HD video delivery (live and on demand), content protection, management, monetization, rich media experiences, collaboration and analytics. Thanks to these products and services, iStreamPlanet's customers are bringing to life and monetizing new content capabilities and services in different segments (enterprise, broadcast, film, telecom, mobile, retail), across a multitude of screens and devices (TV, PC, mobile, gaming consoles and more). The world's top business leaders (American Express, AT&T, Caterpillar, Microsoft), trendiest music festivals (Bonnaroo, Coachella, SXSW), most popular sporting events (Masters Golf Tournament, Championships at Wimbledon, Sunday Night Football, 2010 Vancouver Olympic Games, NASCAR, PGA, the Kentucky Derby) and major broadcasters (CBS Television, Comcast, NBC, Turner and CTV) rely on iStreamPlanet's digital media solutions. Founded in 2000, the privately held company is headquartered in Las Vegas with offices in Scottsdale, Arizona and London, UK. More information is available by calling +1-702-492-5900 or visiting http://www.istreamplanet.com.
About Turner Broadcasting
Turner Broadcasting System, Inc., a Time Warner company, creates and programs branded news; entertainment; animation and young adult; and sports media environments on television and other platforms for consumers around the world.
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