Move Networks, a company offering video delivery technology for customers such as ABC, Fox, CW, Televisa, Discovery and ESPN.com, has raised a whopping $34 million round of capital.
This makes Move one the best funded video delivery companies out there. Late last year, it raised $11.3 million. The company is helping the large broadcasters get online, and competes against a number of other well-funded companies, such as Brightcove. These companies could put a dent in plans by newer sites such as Veoh or Joost to aggregate video content for such Internet delivery. At stake is potentially billions of dollars of ad revenue, though it isn’t clear how much Move or Brightcove can tap into this, and how much they’re simply licensing their technology to the broadcasters.
Also today, San Francisco’s BitTorrent, which offers a popular peer-to-peer technology used by many people to illegally download copyrighted video, continues its efforts to become legit. It said it has cut a deal with Brightcove to deliver video for that company’s clients, including CBS Corp., Viacom Inc.’s MTV Networks and New York Times. Its product is called BitTorrent DNA, and says its delivery is secure enough to meet these broadcasters’ needs. Brightcove has raised $80 million in backing, including $60 million of that early this year.
Move’s technology encodes high-quality video, and cuts down on buffering delays. It allows the broadcasters to stream long-form programs like Grey’s Anatomy or Bones over the Internet, delivering it across multiple platforms (to PC, mobile, etc) and adjusting speed depending on your broadband connection speed.
Silicon Valley venture firm Benchmark Capital led the round, which also included previous investors Hummer Winblad and Disney’s venture arm Steamboat Ventures.
Also investing in this round are large broadcasting industry players (including the “largest cable company” and “largest content provider,” according to our source, though the names haven’t been disclosed yet; the official announcement has been held up, we’re told, because another investor wants in).
Move’s technology also accommodates advertisers who want to target users.
The seven-year-old company is based in American Fork, Utah.
Two months ago, the company several new hires in sales and marketing, including industry veterans — for example, Doug Parrish arrived from Walt Disney Co., where he served as executive vice president and chief technology officer for the Walt Disney Internet Group. He’s senior VP of operations at Move.
Here’s a timeline of Move’s deals:
– August: Fox (myspace) goes live with Move Networks
– Sept: Televisa switches to Move
– January: CWTV went live with Move
– April: ABC dumps Flash for Move
– July: Many Fox Owned and operated stations
– August: ABC launches HD stream with Move
– August: Discovery launches with Move
– Sept: ESPN360.com launches with Move
– Sept: ABC/AOL launches with Move
Sample list of shows streamed by Move Networks:
– ABC High Definition (abc.com): Lost, Desperate Housewives
– Fox (fox.com/fod): 24, PrisonBreak, The Simpsons<- CWTV (cwtv.com): Girls Go Cruisin, Beauty and the Geek
– ESPN360.com (espn360.com – certain ISP/broadband connection required): college football games, NASCAR races, etc
– Discovery Networks: Discovery Channel’s “DIRTY JOBS”; TLC’s “LA INK”
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