FuboTV, an over-the-top television service, received an investment of $75 million, bringing its total raised funding to $150 million since its inception just over three years ago, according to Variety.
“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.
With a lineup that offers over 30,000 sporting events via networks such as NFL Red Zone, FNTSY Sports Network, and GolTV, fuboTV promotes itself as a sports-centric television service, leading to the expectation of them using the investment to acquire more sports content.
The $75 million investment comes from a group including AMC Networks and 21st Century Fox. After recently moving its headquarters to a 17,000-square-foot office space in Manhattan, NY, FuboTV plans to double their office space and staff by the end of the year following the recent acquisition of additional funds.
The Fubo Premier base package costs subscribers $19.99 for the first month and $44.99 each month after. The bundle provides customers with over 70 channels, including regional sports, local and national TV networks. In recent months FuboTV has partnered with AMC Networks, Sports Illustrated TV, CBS and NFL Networks among other channels, bringing its total lineup to 257 stations.
Brandon Contes is a freelance writer for BSM. He can be found on Twitter @BrandonContes. To reach him by email click here.