Triller Network, now know as TrillerNet has acquired FITE TV, a live and pay-per-view streaming platform focused on combat sports. Financial terms of the transactions was advised by Alantra, but is still to be disclosed.
TrillerNet further builds out its stable of content offerings and technology capabilities with the FITE TV and Amplify.ai acquisitions. As per the sources, TrillerNet has spent roughly $250 million in acquisitions over the past 18 months. Proxima Media is the majority owner of TrillerNet, and it is trying to position company in unique place in intersection of apps, lifestyle platforms and entertainment. Furthermore, acquisitions could help Triller close the gap with rivals such as TikTok.The FITE TV deal speaks to how TrillerNet is doubling down on content categories that are resonating with users, especially boxing and other combat sports. Last November, Triller streamed two high-profile boxing matches, including showdown between social media influencer Jake Paul and former NBA player Nate Robinson. TrillerNet’s other acquisitions speak to an appetite for filling the void in live events caused by the coronavirus pandemic. In March, it snapped up the livestreaming platform Verzuz, which formed at the outset of the COVID-19 crisis as a way to support musical artists. Amplify.ai, which is integrated into the main Triller app, helps influencers and their brand partners better track, measure and monetize their content through AI-based tools and dashboards. Amplify.ai will act as a wholly owned subsidiary under TrillerNet, continuing to serve its brand clients at the global level. With a wider range of talent gravitating toward TrillerNet properties, the upstart has the chance to attract more advertising dollars.
