Sky has invested an additional £1 million in online TV rights tool TRX.
It doubles the investment original made in August 2016.
The latest investment brings TRX’s total funds raised to date to £10 million. Investors also include the Channel Four Growth Fund, angel investors (many of whom are from the Media and Finance industries) and the founders, David Frank and Matthew Frank. Sky remains a minority shareholder in the business.
Emma Lloyd, Group Director Business Development & Strategic Partnerships at Sky said: “Sky spends £6 billion annually on content. As we build a thriving production and distribution business in Sky Vision, and increase our investment in Sky Original Productions, international sales are becoming ever-more important. TRX is an exciting business for us to be invested in and we look forward to working with them as they expand globally.”
TRX enables TV program buyers to search for content, get instant rights availabilities and make offers for program rights all online. TRX sits within the global secondary TV rights export market, estimated to be worth in excess of $5 billion per annum. Its aim is to make TV deals easier, quicker and more efficient for sales teams and buyers.
