December 3, 2018 / 2:07 PM / 6 days ago

FuboTV launches streaming TV service in Spain

(Reuters) - FuboTV, a sports-focused internet television streaming service, expanded into Spain on Monday in its first move outside North America.

The private company, which is based in New York and has raised $150 million in funding to date, will offer 13 Spanish channels for 3.99 euros ($4.51) a month, including European entertainment channel Movistar Series, which broadcasts some U.S. shows such as “House of Cards” and “Game of Thrones,” according to its website.

The company chose Spain because it has high rates of video piracy - demonstrating a likely demand for lower-cost streaming services - and has a strong soccer culture, said fuboTV Chief Executive David Gandler in an interview.

FuboTV first launched in January 2015 with a focus on soccer, before expanding into other sports and carrying entertainment networks such as TBS and FX.

Gandler said the company was actively looking at other markets for expansion, including southeast Asia.

FuboTV said in September it was approaching 250,000 U.S. subscribers, with 30,000 net customer additions in its third quarter.

That is still much smaller than competitors like Dish Network’s streaming service Sling TV, which has 2.37 million subscribers.

(The story corrects sixth paragraph to clarify total subscribers is for U.S. only)

Reporting by Sheila Dang, Editing by Rosalba O'Brien

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