It plans to use the funds for further development and marketing of its MobiTV ConnectTM Platform — a product for pay TV and on-demand TV providers to stream broadcast TV and offer other services, like catch-up and recording, without the need of a set-top box.
(It also can be incorporated into products like the Fire TV stick from Amazon, or Apple TV, to add live TV services to these.)
Nooney said that MobiTV anticipated all of these changes and that it would eventually try to shift its own service to other kinds of screens beyond mobile. “But the shift to IPTV has happened slower in the U.S. compared to other markets, so we shifted our focus, too.”
One place where MobiTV has been testing its newer service is in India, where it’s working with Reliance on its 4G service Jio to deliver a TV offering with 350 live channels, catch-up TV for seven days and DVR recording capabilities.