Edgar Bronfman Jr., the former head of Warner Music and before that a top exec at Seagram and Vivendi Universal, has been appointed executive chairman of fuboTV.
The live streaming bundle, which recently was acquired by FaceBank Group, said Bronfman will help advise on strategic direction. One key upcoming development, the company said, is a planned listing on a major stock exchange in the coming months.
Bronfman had already been an investor in fuboTV, both directly and via Waverley Capital, a venture capital group he co-founded with Daniel Leff in 2017. The company has not announced other members of its reformulated board.
Founded in 2015, fuboTV has managed to quietly make strides even as other so-called “skinny bundles” have declined or disappeared. Initially focused on soccer, it has since broadened out, with packages starting at $55 a month for 100-plus channels and range up to $80 for nearly 200 channels. Subscriber-wise, the company has not provided an update since October 2018, when it was nearing 250,000, though last summer it said viewing in the second quarter spiked 200%.
“Edgar was an early champion of fuboTV and I am thrilled he has agreed to this increased role with the company,” FuboTV co-founder and CEO David Gandler said. “As we expand through organic growth and opportunistic acquisition, Edgar’s strategic guidance will be invaluable.”
John Textor, co-founder and former CEO of FaceBank Group, praised Bronfman’s “unparalleled expertise and prominence in the media industry combined with his track record of prescient moves in the digital media space make him the perfect choice to lead fuboTV’s board.”
Bronfman is a managing partner at Accretive, a private equity firm, and executive chairman of Global Thermostat, an emerging tech company aiming to create methods of removing carbon dioxide from the atmosphere.
“I believe fuboTV has a great future,” Bronfman said. “I look forward to working with David to build on the tremendous success fuboTV has already achieved as the opportunities for OTT networks continue to expand and accelerate.”