ROXi, a leading music video streaming service, has secured significant funding from major US broadcasters ABC, CBS, NBC, and FOX. With this investment, the platform is poised to expand its reach and deliver high-quality content to users worldwide.
ROXi, a popular music video streaming service, has secured funding from prominent US broadcasters. The investment is expected to bolster the platform’s growth and expand its reach in the competitive streaming market.
ROXi is a music streaming service that allows users to access and play their entire music collection across multiple devices.
The platform uses cloud-based technology to store and stream music, providing an infinite number of song plays without the need for physical storage.
ROXi also offers advanced features such as personalized playlists, 'infinite number of song plays' , lyrics display , and social sharing capabilities.
Key Players Involved
The major US broadcasters that have backed ROXi are ABC, CBS, NBC, and FOX. These networks have significant resources at their disposal, which will help ROXi navigate the complex landscape of content creation and distribution.
US broadcasters have a long history dating back to the early 20th century.
The first radio broadcast in the US took place on January 13, 1920, by David Sarnoff.
In the 1930s, television broadcasting began with experimental broadcasts.
The Federal Communications Commission (FCC) regulated the industry from its inception, allocating frequencies and enforcing standards.
By the 1950s, major networks like NBC, CBS, and ABC dominated the airwaves.
Plans for Expansion
ROXi plans to use the funding to enhance its platform, improve user experience, and increase its content offerings. The company aims to become a leading destination for music video streaming, offering a vast library of content that caters to diverse tastes and preferences.
Future Strategy
With the backing of these prominent broadcasters, ROXi is poised to make significant strides in the streaming industry. The company plans to leverage its newfound resources to expand its reach, both domestically and internationally, with a focus on delivering high-quality content to its users.
Impact on the Streaming Market
The investment in ROXi marks an important development in the music video streaming market. With its enhanced capabilities and expanded reach, ROXi is likely to pose a significant challenge to existing players in the industry.
The music video streaming market has experienced significant growth in recent years, driven by increasing demand for online content.
According to a report, the global music video streaming market size is projected to reach $12.5 billion by 2025.
Platforms like YouTube, Vimeo, and Vevo have made it easier for artists to share their music videos with a global audience.
Additionally, the rise of social media has created new opportunities for music video streaming, with platforms like TikTok and Instagram Reels gaining popularity.
