US digital distribution company The Orchard has acquired Balcony TV for an undisclosed amount.
The Irish company Balcony TV was founded by Stephen O’Regan and 2 friends in June 2006 and started out on their apartments balcony in Dublin. Balcony TV videos have hit 50 million views, 10 million of those in the last 12 months.
Since starting out, Balcony TV has expanded to include 43 major cities in 31 different countries around the world
In 2013 BalconyTV received $750,000 from Polaris Venture Partners, Lerer Ventures and Greycroft Partners. It has also been supported by Enterprise Ireland.
Commenting on The Orchard acquisition Mr O’Regan stated:
“This is about investment in the future and that’s what I was really looking for. We needed more resources to be able to run a global international music network. Orchard will give us the support we need in terms of development and design.”
Mr O’Regan said he had moved to New York to work for the Orchard who will retain the BalconyTV brand.
“When I look back over the years and think about bands like Little Green Cars, Kodaline and the Script, who are all doing so well, it’s great to think we had them before anyone else”
Sony Music Entertainment is a strategic investor in the Orchard, which was founded in 1997 to distribute independent music. The Orchard operates in 25 countries.