FuboTV adds another $75M to its coffers, counts AMC as investor

FuboTV
Image: fuboTV

Start-up vMVPD fuboTV announced a $75 million series D round of funding, bringing total investment into the company to $150 million to date. 

Among the new investors in this latest round is AMC Networks, which joined existing investors 21st Century Fox, Sky, Luminari Capital, Northzone and the former Scripps Networks Interactive, recently acquired by Discovery, Inc.

FuboTV said it will use the funds to bolster its engineering and product teams, launch new features and step up its marketing activity.

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New York-based fuboTV said in September that it had surpassed 100,000 subscribers, delivering packages of 70 or more channels, starting at $45 a month, that emphasize sports. 

RELATED: FuboTV lands another $55M in funding from Fox, Sky and Scripps

The company is competing in a virtual MVPD marketplace that formed very quickly and is now very competitive, with Dish Network’s Sling TV, AT&T’s DirecTV Now, YouTube TV, Hulu with Live TV and Sony PlayStation Vue all vying for the same marketshare. 

For its part, fuboTV has—especially for an independent—signed up an impressive list of programming networks. Among those deals are arrangements with 260 local broadcast affiliates, as well as a robust array of regional sports networks.

Just within the last six months, fuboTV has announced rights deals with AMC, BBC America, CBS Corp., Food Network and IFC, among others. Sports programming deals have included NFL Network, Pac-12 Network and MSG. 

However, it still lacks deals with ABC/Disney and Time Warner Inc. 

“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,” Gandler added.

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