France’s newly-launched OTT TV service, Molotov announced a second round of funding worth $24 million (€22 million) that is led by French digital-terrestrial transmission(DTT), TDF. This follows €4 million investment from British media group, Sky in September. Recently, Sky also invested $45 million for a stake in Asian Netflic rival, iflix.
Molotov plans to use the new funds to expand its footprint internationally. It secured its first round of financing of €10 million in 2014.
Founded in 2014, Molotov commecialy launched its service in July, offering a freemium model that provides live and on-demand viewing from both free and pay-TV channels. Working in partnership with French TV stations, Molotov allows users to watch any of the 70 basic free channels in France via its app.
The OTT TV provider also announced a new feature that allow users to now record TV shows and movies in the cloud so that they can watch them later. Called “Bookmark,” the Cloud DVR app will allow all users to record TV shows instantly in their own Molotov personal storage space. Free users will be offered 10 hours of cloud DVR storage, while Molotov’s paying subscribers will access an additional 100 hours of storage
