DNA Ltd, the Finnish telecommunications company, has acquired 20% of Booxmedia. The Helsinki-based startup has created booxTV, sort of an online DVR for your smartphone or tablet that allows you to record shows to watch later on you device. The service also contains live TV broadcasts from some Finnish “free-to-air” TV-stations. As a result of the partnership, DNA is arranging sales and marketing cooperation with Booxmedia, such as offering the booxTV service for six months free-of-charge to DNA’s select phone and broadband customers in its summer campaign. The details of the funding were not announced.
The company tells us the investment will help speed up development of Booxmedia's technology as they increase focus on their streaming services. Booxmedia has just released the 3.0 version of booxTV, which functions on iOS and Android devices. A Windows Phone version will be published during the summer.
"We are super excited to expand our shareholder base with DNA and to start collaborating with DNA more closely. DNA's investment will help us bring to market new, cross-screen mobile TV and video services later on this year and to take some of our upcoming innovations to international markets,” says Jukka Sintonen, CEO of Booxmedia.
At the rate the world is going, TV streaming and playback on mobile devices will likely become a significant way we consume television (even if you consider the sports market alone). This strategic partnership for DNA also also opens up new channels content providers and operators can monetize, through a variety of paid and advertising channels. Licensing TV channels sounds like tricky business, so it will be interesting to see how they expand through the European and perhaps U.S. markets.
The company also tells us they are working on Booxmote, going after a remote for cross-screen usage. There aren't many public details at the moment, but the image below shows some picture of their idea. CEO Jukka Sintonen says that it should be coming out soon.
Booxmedia, founded in 2009 with the aid of Nokia-Tekes Innovation Mill program.