- Streaming media platform Plex just announced a $ 50 million growth financing round.
- In its press release on the subject, the company said it wanted “a single sheet of glass for [your] entire universe of media. “
- It looks like Plex is looking to add more streaming services to its hub-like service.
For years, people have linked Plex to personal media collections. Whether it’s movies, TV shows, music, or anything else, Plex can connect you to your own files through a simple and easy-to-use interface.
However, Plex also understands that many people move away from the idea of owning media in the first place. With the onslaught of streaming services, many people rely on simply relying on Netflix, Amazon Prime Video, Spotify, and others for all of their media consumption needs.
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Today, Plex announced a whopping $ 50 million growth financing round. In its press release on the matter, the company makes it clear that a large chunk of that money is going to be used for more streaming services in Plex. The goal is for the app to become a single pane of glass [your] entire universe of media. “
Obviously, most people’s “entire media universe” includes the biggest names in content like Netflix and YouTube. If Plex is ever to be that “single pane of glass,” it has to target these giants. Of course, the company doesn’t mention the services it wants to bring to its platform. It already has contracts with Crackle, music streaming service Tidal, and several major Hollywood studios.
The ultimate goal for Plex
What Plex really wants is to connect users with the content that works best for them. If it were able to do that, it would be pretty powerful. As an example of what might be possible, consider Netflix’s content suggestion algorithm. You’re watching a documentary about serial killers and Netflix says, “Hey, here are some more documentaries to watch, as well as this Hollywood thriller about a serial killer.” Imagine if Plex does that, but for everything.
Say you’re listening to an album by The Police on Tidal. The Police lead singer is Sting, and he has also appeared in a number of films. Knowing that you like The Police, Plex can recommend movies starring Sting. This is just a tiny example, but you can see how powerful it would be if there was one hub for all of your various services.
For this to work, of course, all large companies have to be on board. Plex has to work with $ 50 million, but is that enough to even get Netflix on the phone? We will see.
For more information on Plex, check out this background video.