Plex, the media streamer, is set to fulfill its long-awaited plans to launch a marketplace for TV and movie rentals, marking a significant milestone after encountering multiple setbacks. The startup initially revealed its intention to broaden its streaming service to include rentals just before the onset of the Covid-19 pandemic. However, various technical challenges and the pandemic’s impact disrupted the launch timeline. Despite announcing at CES last year that the rentals market would launch in the second quarter, Plex missed that deadline as well.
Confirmation of Launch Plans
Recently, Janko Roettgers reported a scoop confirming Plex’s imminent launch of its TV and movies store next month, based on discussions with Plex executives at CES. Plex has verified the accuracy of Roettgers’ report to TechCrunch, although specific details such as show titles or launch partners were not disclosed. The exact timing of the store’s debut remains undisclosed, but the report suggests that Plex has secured the participation of “most studios,” with plans to onboard more gradually.
Strategic Move into TVOD Market
Plex has long aimed to enter the TVOD market (transactional video on demand) to complement its ad-supported streaming services, which currently drive its revenue streams. By introducing a storefront for on-demand viewing of movies and TV shows, Plex seeks to establish itself as a comprehensive destination for media content consumption. The company has acknowledged that technical issues, particularly related to digital rights management (DRM) implementation, and securing studio approvals have contributed to the delays. Despite encountering setbacks, Plex is now on track to realize its vision of offering TV and movie rentals.
Future Plans and Enhancements
In addition to the TVOD store, Plex has outlined its plans for the upcoming year, which include a redesign of its platform and the introduction of additional social features. These initiatives signify Plex’s commitment to enhancing its user experience and expanding its offerings beyond traditional streaming services. As Plex prepares to unveil its rentals service next month, users can anticipate a more diverse range of content options and improved functionality within the Plex ecosystem.
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