A London-based media firm that works with top-tier sports franchises to bring their content to free streaming platforms has secured financial backing from an early investor in The Trade Desk.
On Thursday, C15 Studio revealed serial sports investor Roger Ehrenberg and his investment firm Eberg Capital have made a financial investment in the company. Financial terms of the arrangement were not disclosed in a press release sent to The Desk earlier this week.
C15 Studio emerged from stealth mode earlier this year, unveiling itself as the company that help bring free, ad-supported streaming channels (FAST) from Formula 1, Triton Poker and other sports and competition franchises to market.
In an interview with The Desk earlier this summer, C15 Studio co-Founder and CEO Joe Nilsson said the company prioritizes the development of FAST channels from top-tier sports franchises with robust but somewhat underserved fan bases.
Related: C15 Studio developing FAST channels for sports brands
The channels are programmed by television professionals who come from the world of traditional networks, including Sky Sports in the United Kingdom, Sky New Zealand and Viaplay in the Nordics.
“No one came to our business having made FAST channels before,” Nilsson said in an interview. “Everyone who came to our business has made sports TV channels before.”
By hiring people from legacy sports TV networks, C15 Studio is able to develop and program its partner FAST channels to resemble the type of sports channels a user might expect on broadcast or cable television.
“There has to be a value proposition for our audience,” Nilsson affirmed. “Gone are the days of the archive channel. That’s not to say you won’t see replays of iconic races on Formula 1 Channel, but there will be a purpose and intent in the way we schedule them.”
Since the interview, C15 Studio has not allowed its momentum to slow, poaching a high-level Fubo executive to help it further develop its global advertising sales business and signing a fifth sports partner that will be revealed in the coming weeks.
In a statement this week, Nilsson said the investment from Ehrenberg brings more than money to the company — it also allows C15 Studio to tap into Ehrenberg’s expertise in the worlds of sports and finance.
“Roger, as well as our other investors, brings more than just funding to C15 Studio,” Nilsson said. “Having their collective experience and network around the table is tremendously impactful as we scale aggressively.”
