×

FuboTV Banks $75 Million From AMC Networks, 21st Century Fox and Others

FuboTV is getting more cash to fuel its sports-centered, over-the-top internet pay-TV business: The startup announced $75 million in fourth-round funding from investors including AMC Networks and 21st Century Fox.

The Series D round included participation by new investor AMC and existing investors 21st Century Fox, Luminari Capital, Northzone, Sky and the former Scripps Networks Interactive (now part of Discovery).

New York-based FuboTV plans to use the funding — which brings it to $150 million total raised to date — to expand its engineering and product teams, as well as increase marketing spending and to roll out new content bundles both in the U.S. and internationally.

As it has grown over the past year, FuboTV moved its headquarters into a 17,000-square-foot office space in midtown Manhattan New York headquarters. With the new funding, the company plans to double its office space and staff by the end of 2018, including the opening of a second major office in a location yet to be determined.

Launched in January 2015 as a streaming-soccer service, FuboTV is jostling with a number of other OTT pay-TV players in the U.S. — each scrambling to compete on price, packaging and features for consumers looking for alternatives to traditional cable and satellite TV. Those include Dish’s Sling TV, AT&T’s DirecTV Now, YouTube TV, Hulu’s live TV service, Sony’s PlayStation Vue and Philo (which is backed by AMC, A+E Networks, Discovery/Scripps and Viacom).

“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,” David Gandler, FuboTV CEO and co-founder, said in announcing the funding.

Other investors in the company 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.

FuboTV currently offers a $45-per-month bundle that includes more than 70 channels, including local TV stations, national cable networks and regional sports nets. The company announced that it hit 100,000 paying subscribers in September 2017.

In the last 10 months, FuboTV has signed distribution deals with AMC Networks, CBS (including Showtime), Scripps, NFL Networks (including NFL RedZone), Pac-12 Networks, Meredith’s PeopleTV and Sports Illustrated TV, and RSNs including MSG Networks, NESN and SNY.

It also has added 210 local broadcast affiliates or owned-and-operated stations bringing FuboTV’s total lineup to 257 stations plus access to Fox network programming in an additional 40 markets.

More Digital

  • Mueller Report Books Editions Top Amazon's

    Mueller Report Print Editions Shoot to Top of Best-Seller Lists at Amazon, Barnes & Noble

    Robert Mueller is now a best-selling author. Book publishers’ forthcoming editions of the special counsel’s report zoomed to the top of the Amazon’s and Barnes & Noble’s lists of book best-sellers Friday. That comes a day after the report was publicly released, culminating the nearly two-year investigation into Russian interference in the 2016 U.S. election [...]

  • Marques Brownlee - Retro Tech

    YouTube Orders Marques Brownlee 'Retro Tech' Original Series

    YouTube has turned to one of its homegrown stars — technology vlogger Marques Brownlee, aka “MKBHD” — for its newest original series. The video platform has greenlit series “Retro Tech” featuring Brownlee, in which he’ll unbox and review vintage technology products that have defined pop culture. The show, slated to debut in December 2019, follows [...]

  • Netflix Tests Random Episode Button in

    Netflix Starts Testing Random Episode Button

    Netflix is testing a button to play random episodes of select TV shows, the company confirmed Friday morning. “We are testing the ability for members to play a random episode from different TV series on the Android mobile app,” a Netflix spokesperson told Variety. “These tests typically vary in length of time and by region, [...]

  • Netflix Our Planet Sophie Darlington

    Netflix's 'Our Planet' Roars to Life With Work by Top Wildlife Cinematographers

    In terms of scope, production time and — very likely — budget, Netflix’s “Our Planet” is one of the most ambitious projects from the streaming service to date. Narrated by David Attenborough and made available worldwide on April 5, the goal of the eight-part series is to capture diverse habitats across the globe and highlight [...]

  • Amazon

    Amazon Music’s Free Tier Is More Advertising Play Than Spotify Killer, Analysts Say

    When news began to spread last week that Amazon Music’s long-anticipated free streaming tier was imminent, headlines emerged about its threat to Spotify and Apple Music, with some stories saying that Spotify’s stock price dropped in response to the news. But not only was today’s launch of the free tier basically a soft one — [...]

  • Gay Chorus Deep South

    Why Airbnb Produced Documentary 'Gay Chorus Deep South,' Its First-Ever Film (EXCLUSIVE)

    The latest player to hit the film-festival circuit may be a bit unexpected: Airbnb, the travel-accommodations booking marketplace, developed, financed and produced documentary film “Gay Chorus Deep South,” set to premiere at the 2019 Tribeca Film Festival on April 29. It’s the company’s very first feature film. Directed by David Charles Rodrigues, “Gay Chorus Deep [...]

More From Our Brands

Access exclusive content