21CF invests $100 million in social broadcasting platform Caffeine
MUMBAI: 21st Century Fox (CF) has invested $100 million in social broadcasting platform Caffeine and its newly formed venture Caffeine Studios. Caffeine also received additional investment from Andreessen Horowitz and Greylock Partners, as well as from other partners. The amount of their investments is undisclosed.
Caffeine Studios, which is jointly owned by Fox Sports and Caffeine, will leverage Fox Sports’ expertise in live events and programming to create exclusive Esports, video game, sports, and live entertainment content for the social broadcasting platform.
Caffeine CEO Ben Keighran said, “We want to bring the world together around friends and live broadcasts. 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.”
In addition, Lachlan Murdoch, 21CF’s Executive Chairman, will join Caffeine’s Board. 21CF’s stakes in Caffeine and Caffeine Studios will be part of the proposed new “Fox”, the company that will be formed upon completion of the proposed transaction between 21CF and The Walt Disney Company, wherein Murdoch will serve as Chairman and CEO.
Murdoch commented, “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. We are excited to partner with Caffeine and build something special for fans in the growing live social streaming esports and gaming space.”
Caffeine also announced a content agreement with Live Nation to bring live music concerts to the social broadcast platform in Q4 2018, offering fans a new way to experience their favorite musical acts.
Caffeine is currently in pre-release and will continue to release new features and functionality, as well as content from a host of new partners, including those mentioned above, as it heads toward its official launch.
As a real-time, social broadcast platform, Caffeine is focused on bringing the more than one billion gamers, streamers, non-streamers, and fans together around the friends and content they’ll love. Users find content because of the people they follow in their social circles and come together to share that content with each other and their ever-growing group of friends. Personal conversations between friends and broadcasters happen in real-time and are given preference, enabling more meaningful social engagements while disposing of toxic chatter and endless feeds of meaningless comments.
In addition, Caffeine includes a fair, ad-free monetization system that is open to everyone and is designed to encourage broadcasters and enhance the content experience. Caffeine is built on its own infrastructure, so it requires no third-party software or plug-ins. It takes one click for broadcasters to start delivering content, enjoying latency-free conversations, and making money.