Fubo TV Just Raised $55 Million in New Funding




fuboTV, the live TV streaming service that focuses on sports just got a huge cash infusion. Today it was reported that fuboTV has closed a $55 million Series C round led by Northzone. They join investments from Scripps Networks Interactive and 21st Century Fox and Sky, which invested in fuboTV’s last year.

“Closing this latest round of funding is testament to our ability to execute efficiently in a very competitive market, and to our investors’ acute understanding of the future of our industry. Long term, we are best positioned to drive value for all major media companies and consumers in the U.S. and abroad,” David Gandler, co-founder and CEO of fuboTV, said in a statement.

“At Scripps Networks Interactive, we believe that defining and responding to changing consumer behavior is essential to our continued success,” added Henry Ahn, president of content distribution and marketing at Scripps Networks Interactive. “David and his team have created an exciting and innovative global platform that helps engage a new generation of consumers, and our investment in the team and their technology will enable them to continue to develop their offering and reach for the long-term.”

fuboTV goes head to head with Sling TV, DirecTV Now, Hulu, PlayStation Vue, and YouTube TV. For now we are not sure what fuboTV plans to do with their new funding. Currently fuboTV is pushing their 55 channels for $34.99 deal and has been improving their DVR and on demand content recently. So for now we will have to wait and see what happens.

Source: MultiChannel News

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