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Internet-based TV company Magine TV has acquired the assets of film2home AB, which runs the Swedish film service Plejmo, the largest local independent streaming service for movies in the Nordic region. Plejmo is a VoD service where new films can be downloaded soon after cinema release, and before they are available on subscription services such as Netflix.
“Our assessment is that independent movie-streaming services have a tough time as a stand-alone local player, but in the right context, and on an international platform, there are great possibilities,” says Ambuj Goyal, CEO of Magine TV. “Magine TV is a cloud-based TV service for both live and catchup content, and with all the new opportunities for a personalized TV experience. It is a natural next step to complement our TV offering with a service that offers movies and series on demand.”
For current Plejmo users, the service will continue as before, and Plejmo will still be led by Ulrika Lindwall and members of the Plejmo team.
“Through this transaction, we have acquired a great team specialised in TVoD, who in due course can support a successful integration of streamed movies on-demand within the Magine offering,” continues Ambuj Goyal.