FuboTV, the streaming video service aimed at sports fans, is looking to raise around $200 million, according to a person familiar with the matter. It would be the second fundraising by the firm in just four months, following a $75 million round announced in April.
The money would largely be used to market the service, another person familiar with the situation said. Fubo has been promoting itself with television ads, and according to Multichannel News, is planning its second national TV campaign in September.
Fubo had around 160,000 subscribers as of June, well behind better-known rivals such as YouTube TV and Hulu with Live TV, which respectively have around 800,000 and one million subscribers, people familiar with the situation have told The Information. And Fubo faces increasing competition from companies like Disney and AT&T’s Turner, both of which recently launched sports streaming services.