Struum lands $7M 'A' round
LOS ANGELES – Struum, the highly-buzzed about new breed of streaming service created by senior-level Disney and Discovery executives, and backed by an initial multi-million-dollar investment from former Disney CEO Michael Eisner through his Tornante Company, announced today it has finalized its Series A funding round led by Corus Entertainment, a leading Canadian-based media and content company.
The $7 million round also includes Gaingels, the leading investment syndicate in support of and representing the LGBTQ community and allies in the venture capital space. The new funding will enable Struum to continue to grow its content library, enhance its technology features, and begin to map out expansion of the service to consumers outside of the U.S. The additional funding comes as Struum expands the reach of the service beyond iOS to Android-based devices, Roku, Amazon Fire TV, and Apple TV.
Struum launched a preview of the service at the end of May with the mission to streamline streaming by providing viewers one central destination and a single monthly subscription to access a huge array of programming that serves their interests from across the increasingly cluttered global streaming landscape.
The platform's first-of-its-kind credit-based subscription model offers the most cost-effective and efficient way for people to sample and discover programming as they spend their monthly credits to unlock only the film and TV episodes they want to watch from over sixty participating service and content partners—without the hassle of navigating and paying for multiple subscription video services. As viewers continue to use the platform, Struum is also able to provide new programming suggestions from across all of its content partners based on viewing habits so they can easily find new content they may enjoy watching. Struum has now finalized deals with more than 60 premium services and content providers to make their programming available on the platform.
Among the vast library of content users will find are services such as BBC Select, Tastemade, Tribeca, Cheddar News, Kocowa, Dekkoo, Magellan TV, History Hit, Gusto, Young Hollywood, Indieflix, Filmbox, Echoboom Sports, Social Club TV, Cinedigm, Magnolia Pictures, Little Dot Studios, Group 9, Stingray and SPI/Filmhub, among many others. Consumers can sign up for a monthly subscription of $4.99. There is a seven day trial available as well.
Over the next few months, Struum plans to continue adding more streaming partners to its already robust line-up of tens of thousands of movies and TV series across every conceivable genre. They will also be bringing the service to new platforms and will make additional enhancements to its interface. Looking ahead to 2022, international expansion is planned beginning with Canada, as well as other territories.