Philo Raises Additional Funding

Philo, the live-streaming service for entertainment, lifestyle and knowledge programming, has raised an additional $40 million from existing investors, led by AMC Networks, Discovery and Viacom.

The service has just expanded its U.S. reach with its launch on Amazon Fire TV and Apple TV, delivering a 40-channel bundle for $16 per month, with a package of nine other channels available for an additional $4 per month. The new funding from the investors—all of which have channels in the Philo skinny bundle—will be invested in product features and marketing, as well as innovations such as a “socially-driven TV experience.”

“Our goal is to build a television service that people love,” said Andrew McCollum, Philo’s CEO. “The expansion onto Amazon Fire TV and Apple TV is a natural extension for us and allows many new people to discover and enjoy Philo, as well as expanding the viewing options for our existing subscribers. We’re thrilled with the response we’ve seen to Philo so far, but we’re always looking for ways to make it even better, and this is another big step forward in that direction.”