Plex earlier emphasized it needs to keep up with “increasing costs,” which include supporting many different devices and codecs. He also stated that he needs money to implement new features, including integration with Common Sense Mediaa new “dedicated server management application” for managing server users and “an open and documented API for server integration,” including custom metadata agents,” according to a March blog post.
In January 2024 TechCrunch reported that Plex is approaching profitability and raised $40 million in funding (Plex raised $50 million in growth capital). round in 2021). In theory, the new remote access rules could also increase subscription revenue and help Plex backers see a return on their investment.
However, the evolution of Plex may isolate long-time users who have relied on Plex as a media server for years, and those who are not interested in subscriptions, FAST (free ad-supported streaming TV) channels or movie rentals. However, Plex is unlikely to abandon its streaming business. In 2023, Scott Hancock, then Plex's vice president of marketing, said that as of 2022, Plex has more people using its online streaming service than its media server functionality. For people looking for software packages more focused on media hosting, alternatives to Plex, like Jellyfinlooking more and more attractive.
