The newly raised cash will be used to grow Struum’s content library, build its technology and expand its reach to Roku, Amazon Fire TV, Apple TV and Android-based devices. Struum is also looking to expand internationally in 2022.
The new round of financing was raised by Corus Entertainment and Gaingels, an investment syndicate that supports the LGBTQ community.
Struum aims to offer consumers a central destination for streaming, with a single $4.99 monthly subscription providing access to multiple programming sources. Content currency available to Struum subscribers comes from 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.
It launched a preview of the service in May.
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.