FuboTV parent company FaceBank Group Inc. appointed former Warner Music Group chief executive Edgar Bronfman Jr. to its board of directors and named him executive chairman effective April 29.
Bronfman was an early investor in the sports-focused streamer through his venture capital group Waverly Capital and has also contributed angel funds to the company.
Bronfman said in a statement Wednesday he believes fuboTV has a “great future.”
“I look forward to working with David to build on the tremendous success fuboTV has already achieved as the opportunities for OTT networks continue to expand and accelerate,” Bronfman added.
In addition to his work at Waverly Capital, Bronfman is a managing partner at New York City-based venture capital and private equity firm Accretive. In 2004, Bronfman helped oversee WMG’s acquisition and led the company for seven years through its IPO, which made it one of the first standalone major music firms to go public. He launched Waverly Capital with co-founder Daniel Leff in 2017 and the firm maintains offices in Los Angeles and New York. In addition to fuboTV, Waverly Capital has backed Los Angeles startups including meditation app Headspace, podcast network Wondery, and most recently, tech news site dot.LA.
“Edgar was an early champion of fuboTV and I am thrilled he has agreed to this increased role with the company,” fuboTV chief executive David Gandler said in a statement. “As we expand through organic growth and opportunistic acquisition, Edgar’s strategic guidance will be invaluable.”
FuboTV was originally launched in 2015 as a soccer-focused streaming service but has since expanded to include news and entertainment channels. The company was acquired by celebrity-focused visual entertainment FaceBank Group this month for $610 million according to funding tracker PitchBook Data Inc.