Fresh off a $40 million fundraising round, streaming media company Plex has expanded into a new business by launching a movie rentals storefront. Initially available to U.S. customers, the addition will provide Plex with another revenue stream beyond subscriptions and ad-supported streaming, crucial for navigating the unpredictable ad market.
At launch, the marketplace will offer movies from top studios such as WB, Paramount, MGM, Lionsgate, and A24. Plex users can rent titles like 'Barbie,' 'Wonka,' 'Aquaman and the Lost Kingdom,' and more.
Plex will have over 1,000 titles available for rent starting at $3.99, with more titles to be added over time. Rentals will rotate in and out, affecting the available selection.
Although Plex had teased a TV and movie rental marketplace for years, technical issues and shifting priorities delayed its launch. The marketplace will initially focus on movies, not TV shows, and will not offer movies for purchase, based on user demand for rentals.
Rentals are valid for 30 days with a 48-hour viewing window after playback starts. Plex plans to expand its studio partnerships and enhance its recommendation capabilities to drive more rentals based on user data.
Despite existing competition in the movie rental market, Plex believes its personalized recommendations will set it apart. The movie marketplace will be available on various platforms, including streaming devices, smart TVs, and mobile devices.
Plex ensures cooperation with studio partners to protect copyrights despite its software's use for storing personal media collections. The new movie marketplace emphasizes convenience and accessibility for Plex users on multiple devices.
