Sports-focused online streamer FuboTV has raised $75 million, led by AMC and 21st Century Fox, in its latest round of funding, the company announced on Wednesday.
The New York-based company has 100,000 paying customers, with its basic package starting off at $45 a month. FuboTV has about 80 channels in its arsenal, and has carved out a niche as a go-to spot for sports fans looking to cut the cord, with NBA TV, NBC Sports Network, Fox Sports, and the NFL Network — along with Fox, CBS, and NBC on the network side. Its streamed the World Series, Super Bowl, and Winter Olympics in the last year.
“This latest capital raise underlines a seismic shift in viewing behavior as consumers migrate from traditional platforms to streaming television,” said David Gandler, fuboTV CEO and co-founder, in a statement. “The pay TV space is experiencing a renaissance, and the company will use this investment to continue to drive technological advancement in video quality and latency, machine learning and predictive analytics to deliver a best-in-class experience.”
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After its fourth round of funding, FuboTV has raised $150 million. The company raised $55 million in Series C funding last June. The company did not share its valuation as part of its announcement.
FuboTV said the cash infusion will be used to hire more engineers and invest in more content. With stiff competition from YouTube, Sling TV, and Hulu, the company could be looking to land deals with networks like ABC. Its app is available on Apple TV, Amazon Fire TV, Roku, as well as iOS and Android mobile devices.
A look at FuboTV’s full investors for its Series D: 21st Century Fox, AMC Networks, Luminari Capital, Northzone, Sky and the former Scripps Networks Interactive (recently acquired by Discovery, Inc.). Investors also include DCM Ventures, i2bf, LionTree Partners, Univision Communications Inc., Edgar Bronfman, Jr. (former Chairman and CEO of Warner Music Group), Chris Silbermann (founding partner, ICM Partners) and former NBA Commissioner David Stern.
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