Sky to support Now TV launch with £30m investment

Sky expects the launch of its online television service Now TV to cost approximately £30 million over the current fiscal year.

The satellite broadcaster is set to shell out this amount by June 30th 2013 to support the new product and introduce a through-the-line marketing campaign, according to the company's financial results for 2011-12.

Launched on July 17th, Now TV offers flexible access to some of Sky's top content across a wide array of internet-enabled devices.

At present, the service can be used by anyone in the UK and Ireland with an internet connection on PC, Mac and selected Android smartphones, and will be rolled out to iPhone, iPad and Xbox 360 within the next month.

Now TV is also available to owners of YouView set-top boxes, which went on sale in a string of major retailers across the UK today (July 26th). Later this year, it will launch for additional platforms, including Roku and Sony PlayStation 3.

Currently, a catalogue of more than 1,000 movies can be rented via Now TV, with additional content set to be offered in the coming months from Sky's sports and entertainment channels.