Milestone said subsidiary Nexstar has expanded its unique Alchemy digital media platform to now include a 24/7 online over-the-top (OTT) TV streaming service, Alchemy TV which goes live today.
Alchemy is a digital platform that allows its users to purchase the most recent music, video and e-books, make charitable donations, and fund social initiatives.
Following today’s launch of Alchemy TV, Alchemy users can now choose from an extensive library of over 100 streaming channels offering family entertainment, news, sports, lifestyle, drama, TV programming, children’s TV and documentaries. This new service is available as a stand-alone and white label option.
Alchemy TV is free for Alchemy users and can be extended to include access to its premium services allowing the viewer to purchase the latest TV programming and Box Sets.
Milestone will receive a share of advertising revenues generated both through the consumption of media across these channels and from the creation of third party accounts and premium services sold.
The Over The Top (OTT) market is estimated to grow from $28.04 billion in 2015 to $62.03 billion by 2020 with a compound annual growth rate of 17.2%.
Story provided by StockMarketWire.com