Recently Warner Bros. Discovery has been busy cutting costs any way it can, and now iStreamPlanet is the latest service to be cut. iStreamPlanet was a company that offered its clients the ability to live stream TV over the internet. Many large companies used iStreamPlanet to manage their live streams, including Fox, NBC Sports, and AMC Networks.
Now Warner Bros. Discovery has shut down the service to cut costs, according to a report from Deadline. Originally Turner invested in iStreamPlanet as a way to build out its streaming efforts at a time when it didn’t have the ability to do so. In 2015 Turner Broadcasting invested an additional $200 million into the service. This came as iStreamPlanet was tapped to stream many large events, including the Super Bowl, Olympics, FIFA World Cup, NCAA Division I basketball, and Formula 1 racing.
You may not know the name, but once iStreamPlanet was a major player in helping TV streamed online end up on your TV.
This all comes as Warner Bros. Discovery has announced live sports, and news is coming to Max. For now, though, it seems that they have decided that this company is not needed for these efforts as it focuses on Max.
Here is how iStreamPlanet described their service:
iStreamPlanet is revolutionizing TV technology so our customers can deliver the very best experience to the fan. We complete the end-to-end digital video workflow with the Aventus Media Processing Suite and the Orbis Direct-to-Consumer Platform.
We are trusted to stream the most valuable live sporting events including the Olympics, Super Bowl, NCAA March Madness Live, and more. Our media and entertainment customers including Fox, FuboTV, Hulu, and Turner rely on us for their 24×7 live media workflows. We are obsessed with our customers, technical innovation, and high-quality video. We are committed to delivering the best experience to the fan whenever and wherever.
Founded in 2000 as a startup streaming weddings from A Little White Chapel in Las Vegas, iStreamPlanet is now a robust media company streaming for fans at mass scale. iStreamPlanet is a subsidiary of Turner Broadcasting System, Inc. and is headquartered in Seattle, Washington.
Cord Cutters News has reached out to Discovery for comment but has not heard back at the time of this posting.