Sky invests in online video startup Pluto.TV

Sky has invested US$500,000 (€394,000) in US online video aggregator Pluto.TV, the latest company to benefit from the UK pay TV operator’s policy of backing startups.

LA-based Pluto.TV aggregates video content from across the web and programs it into themed TV channels, spanning genres including music, news, sports, comedy and entertainment.

The service works using a combination of technology, data and a team of specialist editors, and is available on a range of platforms including iOS, Android, Chromecast, Amazon Kindle Fire, Fire TV, and on the web.

Sky said that through its investment in Pluto.TV it will now receive “valuable insight into the way new forms of content are shaping emerging trends in the way people find and watch TV.”

Pluto.TV will also use Sky’s experience in packaging and promoting content, particularly through channel brands.

“This partnership enables Sky to draw on the ground-breaking work Pluto.TV are doing to help viewers discover and enjoy the best of online TV through an intuitive and editorially rich TV platform. As we learn about new trends in the way people watch TV, we look forward to sharing our own expertise in content creation, packaging and promotion,” said Emma Lloyd, director, corporate business development, Sky.

Tom Ryan, CEO of Pluto.TV added: “Sky’s considerable strengths in TV content and distribution and their leading position in Europe will be invaluable to us as we scale our business. We look forward to collaborating broadly with Sky to rapidly grow and deliver our online video platform globally across web, mobile and connected TVs.”

News of the investment comes just weeks after Sky invested US$5 million (€4 million) in US advertising technology firm Sharethrough. Sky’s other tech investments include web streaming set-top box maker Roku, immersive video specialists Jaunt and the video delivery firm 1 Mainstream.