Plex Raises $50 Million to Become ‘One Stop Shop’ for Streaming

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Plex has completed a round of funding, adding a $50 million infusion from an investor in hopes of becoming a “one stop shop” for streaming entertainment with an interface that will put all of your streaming media into one menu.

Plex is aiming to solve the issue of content being difficult
to find. With so many streaming services, both paid and free, Plex describes
the landscape as “media chaos” with consumers trying to keep track of what
content can be found where.

The solution, the service believes, is to create an aggregator that will allow users to find what they want. Plex will also help users discover new content with personalized recommendations.

“Everybody knows it’s a pain to sift through all the
streaming services to find what you want to watch, and our goal at Plex is to
manage your media life for you,” said Keith Valory, CEO at Plex. “Our job is to
understand where everything is, whether it’s from our free library of movies
and shows, a subscription service, live on TV, or something you can purchase,
and for Plex to be the trusted go-to service to help you find what you want,
when you want it.”

Plex will be putting funds toward developing the interface
to bring all of your media to one place, including movies, shows, music, and
your personal media collection. The goal is to include all major streaming
services, along with premium titles available to rent or buy, by 2022.

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