A BRITISH music streaming firm backed by Kylie Minogue and Robbie Williams is attempting to capitalise on the rise in home-based entertainment with a new TV app.
ROXi, which the firm’s boss describes as ‘Netflix for music,’ is hoping to capitalise on a deal with a host of international record labels to bring music streaming into the living room.
The firm, which had previously been a ‘paid-for’ service, is shifting to a freemium model with revenues driven by advertising.
Other investors include U2’s former manager Paul McGuinness investor Nigel Wray and Alesha Dixon. Annual smart TV sales are set to reach 226m globally by 2025, said boss Rob Lewis.
“The mass adoption of Smart TV apps has enabled us to transform ROXi… into a highly scalable music video-based TV Music App available to millions,” he said.