Causeway Media Partners Lead Financing Round For You.i TV
Causeway Media Partners led a $23M round of financing in a Canadian app developer called You.i TV. As part of the move, Causeway’s Bob Higgins will take a seat on You.i TV’s board. Causeway invests in content companies like Formula E and distribution companies like Flo Sports. “We kept hearing about the problems people were having getting content out -- whether it was leagues or networks,” Higgins said. “We saw You.i TV as a company with a good service structure that was moving more to a product structure and needed capital to scale. So we jumped in.” You.i TV, which already counts WarnerMedia, Kanye Anderson Capital Advisors and Vistara Capital as investors, will use the investment -- described as growth capital -- to expand internationally. “This is a scale point for us,” said You.i TV CEO and co-Founder Jason Flick. “This disruption in the market -- especially in sports -- is happening globally. We want to expand globally.” Three years ago, most of You.i TV’s customers were Canadian. Now, most are in the U.S., with about 30% international. Given the trend toward OTT services, Higgins projects that half of You.i TV’s business will be sports related. It counts companies like Fox, AT&T, the NBA, NFL and Twitch as clients.