Sky and Fox have both invested in FuboTV, a growing video streaming service focused on football.
The online sports platform received $6m from each of the media giants as part of a series B $15m round of founding.
FuboTV has built a subscriber base of over 40,000 since it launched in January 2015 and has become the second-largest aggregator and distributor of linear OTT sports content in the US.
The $10 per month service currently offers subscribers an array of football games from Spain’s La Liga and the MLS in the US however it lacks any Premier League or Champion’s League content.
In a statement from FuboTV announcing the deal it specified that “neither 21st Century Fox nor Sky are currently licensing content to FuboTV, but both companies intend to work closely with FuboTV as it continues to grow.”
Emma Lloyd, director of corporate development and strategic investments at Sky, said: “We’re excited to be investing in FuboTV, at a time when our customers are looking to consume more and more content, whenever and wherever they are.
“This investment will provide Sky with real insight, and we look forward to working with the FuboTV team as they continue to explore new opportunities for growth.”
David Gandler, co-founder and chief executive of FuboTV, said: “The support from Europe’s leading entertainment company strongly positions FuboTV to meet the demands of the ever evolving sports rights ecosystem.”
He added: “The investment from Sky demonstrates our potential to become leaders among linear OTT services."
The investment from the major media companies illustrates how subscription TV providers are working to open new revenue streams as live sports broadcasts increasingly shift to online streaming.