In the future, television may no longer be the passive experience where you sit back and zone out. It’ll be social. It’ll be interactive. It’ll be more like Amazon’s social broadcasting platform Twitch.
But just as the direct-to-consumer streaming world has become competitive and fragmented, so too will the interactive TV space. Caffeine, a new social broadcasting platform that’s backed by 21st Century Fox and Disney, is one of those attempting to take on Twitch.
Since its founding in April 2016, Caffeine has raised more than $146 million in funding. The majority of that money was raised last summer, led by a $100 million investment from Fox that placed 21st Century Fox CEO Lachlan Murdoch, the son of News Corp CEO Rupert Murdoch, on Caffeine’s board of directors.