US-based Philo has launched its live television streaming service with $25m of funding from media companies A+E, AMC, Discovery, Scripps and Viacom, TechCrunch has reported.
Formerly known as Tivli, Philo provides a university campus-focused television streaming platform the company intends to expand to 70 campuses by the end of 2017.
The company this week introduced a subscription-based service that boasts 37 channels, many of which are run by its investors, including AMC, A+E, BBC World News, Comedy Central, MTV, Food Network and the Discovery Channel.
The programming is free to stream online, and the service, which is available to anyone, is available for a base price of $16 each month, and additional channels are accessible for another $4 per month.
Philo’s product includes a recording and cloud storage feature so shows can be watched at any time. Users can view which programming is being watched by friends and family members, and there is an option to synch shows so they can be watched together on different screens.
The company received $6.3m in a 2013 series A round led by New Enterprise Associates (NEA) that included media companies HBO and CBC New Media, talent agency William Morris Endeavor, Radical Investments, Rho Ventures and Felicis Ventures.
NEA subsequently led Philo’s $10m series B round in mid-2015, which included HBO, CBC New Media, Rho Ventures, XFund and Andrew McCollum, Philo’s CEO. It has now raised $51m altogether, according to TechCrunch.