Sky has invested an undisclosed sum in online TV rights start-up The RightsXchange (TRX).

UK-based TRX is a deal-making platform that enables TV rights buyers and sellers from around the world to connect and complete licensing deals.

Sky said it enabled distributors to reach buyers in new international markets, who in turn gain access to British, American and other TV rights that would previously have been difficult to secure.

According to a European Communications survey last year, telcos cited rights acquisition as the second biggest challenge to their OTT/digital content strategies, behind a lack of partnership.

TRX soft launched in Asia last month with over 5,000 hours of programming available to trade.

Along with Channel4, Sky has taken a minority stake in Dial Square 86, TRX’s holding company.

As a result of the deal, Sky gets a position on the board of Dial Square 86 but only as “an observer”.

Emma Lloyd, Group Business Development Director at Sky, said: “This latest investment reflects our ambition to partner with pioneering start-ups that can help transform the TV landscape.

“We’re delighted to be backing such an innovative UK-based company, with its roots firmly in the creative sector.

“Together with Channel 4, we can help TRX to grow the TV rights market, which will benefit everyone in the industry.”

Earlier this year, Sky invested in Southeast Asian OTT provider iflix to boost its access to markets outside of its core footprint.

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