Warner Bros Discovery (WBD) has quietly shut down a little-known enterprise streaming video service.
The service, called iStreamPlanet, offered enterprise-level solutions to power live video streams for a variety of events, and was used to deliver online streams of various Super Bowl games, Olympic tournaments and the FIFA World Cup.
The service was founded in the early 2000s by former professional basketball player Mio Babic. At its peak, iStreamPlanet’s technology powered more than 250 linear content streams and over 200 live events on a yearly basis.
In 2015, the service became majority-owned by Turner Broadcasting as part of a $200 million deal. Around that time, iStreamPlanet counted a number of corporate customers, including Viacom Networks, AMC Networks, Fox Sports and NBC Sports.
The closure comes as WBD has looked toward other technology platforms for its on-demand and live-streaming initiatives. Around 20 employees were laid off as a result of the shutdown, according to a person familiar with the situation.
iStreamPlanet was based in Seattle.
