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fuboTV Raises $75 Million in New Funding

Yesterday fuboTV announced that they have raised an additional $75 million in funding from partners like MC Networks, which is joined by existing investors 21st Century Fox, Luminari Capital, Northzone, Sky and the former Scripps Networks Interactive, recently acquired by Discovery, Inc. fuboTV has now raised $150 in funding to help them grow their live TV streaming service.

“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.  “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.”

Since closing their Series C funding 10 months ago fuboTV has added:

  • Streaming its first MLB All Star Game, Playoffs and World Series; Tour de France; NFL regular season, playoffs and Super Bowl; college football; and the Winter Olympic Games.  In addition to these firsts, fuboTV continued to bring subscribers live action from the NBA, NHL, UFC, and more soccer than on any other streaming service – from Bundesliga, EPL and La Liga to Liga MX, MLS, FIFA World Cup qualifiers, UEFA Champions League matches and more.
  • Passing 100,000 paid subscribers in September 2017 and continuing to be one of the fastest-growing OTT services in the country, with double-digit growth since.
  • Launching out of Beta on Apple TVChromecast and RokuAndroid and iOS phones and tablets, and unveiling a completely new UI and UX.
  • Signing distribution deals with AMC Networks, CBS Corporation (including SHOWTIME), Scripps Networks Interactive (now part of Discovery, Inc.), NFL Networks (including NFL RedZone), Pac-12 Networks, Sports Illustrated TV, and leading RSNs: MSG Networks, NESN and SNY.
    • New sports and entertainment additions to fuboTV’s basic package in the past 10 months include: AMC, BBC AMERICA, CBS, CBS Sports Network, CBSN, Food Network, FUSION TV, HGTV, IFC, MSG, MSG+, NESN, NFL Network, Pac-12 Network, Pop, SNY, SundanceTV, The Olympic Channel, Travel Channel and WE tv.
  • Adding 210 local broadcast affiliates or O&Os, bringing fuboTV’s total to 257 stations plus access to FOX network programming in an additional 40 markets.  As of today, fuboTV has more local coverage than DirecTV Now, PlayStation Vue or Sling TV, including:
    • FOX coverage in 87% of U.S. households, including 20 of the top 20 markets and 50 of the top 50. (123 markets total)
    • NBC coverage in 72% of U.S. households, including 19 of the top 20 markets and 42 of the top 50. (74 markets total)
    • CBS coverage in 68% of U.S. households, including 20 of the top 20 markets and 35 of the top 50. (68 markets total)
  • Launching Sports Plus, Adventure Plus, International Sports Plus and other new add-ons, giving subscribers have the option to add up to 26 more sports channels.
  • Adding new features including Lookback and Startover; upgrading its cloud DVR to 30 hours of personal storage (with the ability to upgrade to 500 hours with “Cloud DVR Plus”); and allowing up to three simultaneous streams with the new “Family Share” add-on.
  • Partnering with the NCTC and launching Consolidated Communications as its first broadband partner.
  • Making available, for the first time, audience-based advertising inventory as a revenue driver, and last but not least…
  • Launching its first national marketing campaign, which introduced the world’s greatest fan, Fubo Chávez in a series of memorable TV commercials.

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