Sky has invested $6 million in fuboTV, a U.S.-based video streaming service that provides subscribers with a premium, over-the-top bundle of sports TV channels. This is part of fuboTV's Series B round of funding and is the latest in a series of strategic Sky investments in innovative start-up companies.
Launched in January 2015, fuboTV has quickly become the second-largest aggregator and distributor of linear OTT sports content in the U.S., growing to more than 40,000 subscribers to date. The service provides access to video content in English, Spanish and Portuguese via a range of platforms, including via www.fubo.tv as well as Roku, Chromecast, Apple TV and via iOS and Android devices.
The company has secured U.S. distribution deals with TV channels that hold rights to major worldwide sporting events, including live football matches from more than half of the leading international leagues and tournaments. This includes Univision Networks, beIN SPORTS, GolTV and Benfica TV.
This partnership follows recent Sky investments in sports marketing company InCrowd Sports, programmatic advertising company DataXu and OTT video company TV4 Entertainment. Sky has previously invested in a number of other pioneering U.S. technology companies, including the leading online sports network Whistle Sports, IP streaming service provider Roku and cinematic virtual reality company Jaunt.
Emma Lloyd, Director of Corporate Development & Strategic Investments at Sky, commented: We're excited to be investing in fuboTV, at a time when our customers are looking to consume more and more content, whenever and wherever they are. This investment will provide Sky with real insight, and we look forward to working with the fuboTV team as they continue to explore new opportunities for growth.
The support from Europe's leading entertainment company strongly positions fuboTV to meet the demands of the ever evolving sports rights ecosystem, said David Gandler, co-founder and CEO of fuboTV. The investment from Sky demonstrates our potential to become leaders among linear OTT services.
Notes to editors
1) References to Fubo are to fuboTV Inc.
2) Gross assets subject to this transaction were $6m
3) Profits attributable to the assets subject to this transaction were $nil
4) Sky will have a position on the board of fuboTV Inc. as a result of this transaction
5) This announcement is being made in accordance with Listing Rule 10.4.1
Media
Sky
U.K.
Euan Fordyce
euan.fordyce@sky.uk
020 7032 3276
U.S.
Samantha Chau for LEWIS
sky@teamlewis.com
415-432-2489
fuboTV
The Lippin Group/NY
Matt Biscuiti
matt@lippingroup.com
212-986-7080
The Lippin Group/L.A.
Kevin Broderick
kevin@lippingroup.com
323-965-1990
About Sky
Sky is Europes leading entertainment company, serving 21 million customers across five countries: UK, Ireland, Germany, Austria and Italy. We offer the best and broadest range of content, deliver market-leading customer service and use innovative new technology to give customers a better TV experience, whenever and wherever they choose.
Sky has annual revenues of over £11 billion and is Europes leading investor in television content with a combined programming budget of £4.9 billion. The group employs 30,000 people and is listed on the London Stock Exchange (SKY).
For more information visit www.sky.com/corporate.
About fuboTV
fuboTV is the fastest-growing virtual MVPD in the U.S., bundling sports TV networks with entertainment content that complements its core offering. Officially launched in January 2015, it is currently the second-largest service of its kind, and the top provider of live streaming soccer in the U.S. Bringing subscribers access to linear channels from a growing line-up of content partners, fuboTV is available on desktops via www.fubo.tv; on Amazon Fire TV and Fire TV Stick; Android phones and tablets; Apple TV; Chromecast; iPad; iPhone; Kindle Fire; Roku; and T-Mobile's Binge On.
The company has raised a total of $20.6 million in funding to date. fuboTV closed a $4 million Series A round in August 2015, led by DCM Ventures and including I2BF Digital, LionTree Partners, Luminari Capital and Univision Communications Inc., as well as seed investments from Anthony Vinciquerra, former CEO of Fox Networks Group, and Blake Krikorian, co-founder of Sling Media. In February 2016, the company closed a $15 million Series B round led by Sky and 21st Century Fox and including DCM Ventures, Luminari Capital, LionTree Partners, Edgar Bronfman, Jr. (Managing Partner at Accretive LLC and former CEO and Chairman of Warner Music Group), Chris Silbermann (founding partner, ICM Partners), David Stern (former NBA commissioner and member of the Basketball Hall of Fame).
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Sky has invested $6 million in fuboTV, a U.S.-based video streaming service that provides subscribers with a premium, over-the-top bundle of sports TV channels. This is part of fuboTV's Series B round of funding and is the latest in a series of strategic Sky investments in innovative start-up companies.
