Sky doubles down on stake in TV rights firm TRX with a £1MN cash injection | Pay-TV | News | Rapid TV News
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After its initial £1 million investment in August 2016 in the firm which makes online deal-making tools for TV rights, pan-European pay-TV giant Sky has invested a further £1 million in TRX.

skytrx 23aug2017TRX sets out to make TV deals easier, quicker and more efficient for sales teams and buyers. It enables TV programme buyers to search for content, get instant rights availabilities and make offers for programme rights all online. TRX sits within the global secondary TV rights export market which is estimated to be worth more than $5 billion per annum. The service will come out of its beta test in autumn ahead of a full global launch.

Over 60 international distributors, including Sky’s production and distribution business, Sky Vision, and over 300 buyers use TRX to buy and sell TV rights.

This latest investment by Sky brings TRX’s total funds raised to date to £10 million. Other investors 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, and commenting on its new stake, group director business development and strategic partnerships Emma Lloyd 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.”

Added TRX executive chairman David Frank: “Sky is at the vanguard of investing in disruptive start-ups in the technology and media space. We are extremely pleased that it has decided to double its financial commitment to TRX. This investment will help drive our global roll out in autumn 2017.”