Media Investment Fox ponies up $100MN to get Caffeine hit

Media Investment
Fox ponies up $100MN to get Caffeine hit
Michelle Clancy
| 06 September 2018

Indicating where pay-TV’s future will be expanding to, 21st Century Fox (21CF) has invested $100 million into social broadcast network Caffeine.

caffeine 6 sept 2018The platform, which is in pre-release, runs on a similar basis to Twitch and will host gaming, entertainment and other creative content. It has also announced a content agreement with Live Nation to show live music concerts to Caffeine in the fourth quarter of 2018.

21CF led the round of funding, which also included participation from existing Caffeine
investors Andreessen Horowitz and Greylock Partners, and other undisclosed partners. Lachlan Murdoch, 21CF executive chairman, will join Caffeine's board.

The investment will include a newly formed venture called Caffeine Studios that is jointly owned by FOX Sports and Caffeine. The studio will leverage FOX Sports' expertise in live events and programming to create exclusive esports, video game, sports and live entertainment content for Caffeine.

"We want to bring the world together around friends and live broadcasts," said Ben Keighran, CEO of Caffeine. "It's an ambitious goal, but one we believe is attainable with the support of our amazing new partners, our awesome and ever-growing community, and the content that together, we can bring onto the platform."

"The combination of the Caffeine platform with a content studio that benefits from Fox Sports' expertise in live events and programming will help position Caffeine to deliver compelling experiences in esports, video gaming and entertainment," added Murdoch. "We are excited to partner with Caffeine and build something special for fans in the growing live social streaming esports and gaming space."