paidContent - Plum TV Adds $5 Millon In Funding; Raising $8 Million For Luxury TV Network
This story was written by Tameka Kee.
Resort and luxury lifestyle TV network Plum TV has raised nearly $5.2 million worth of an $8 million second round of funding, per an SEC filing. We’ve put in a request for details on the source of the new money. The N.Y.-based company raised $20 million in its first round from backers like former Viacom CEO Tom Freston and singer Jimmy Buffett.
Plum TV is akin to the video version of glossy local magazines like Niche Media’s Hamptons or Ocean Drive. Its eight channels run at resorts and hotels in locales like Aspen and Martha’s Vineyard; clips are also syndicated on blip.tv, Joost.com and on VOD through Cablevision and Comcast, among other providers. Plum TV produces live local shows as well as branded entertainment; it sells local and national video ads, e-mail and custom sponsorships.
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By Tameka Kee