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Fuse Media

Fuse Media, an English-language media company that serves mostly Latino and multicultural audiences, is launching a subscription video service later this year, executives tell Axios.

Why it matters: There aren't many English-language streaming services that are aimed specifically at multicultural populations in the U.S.

  • "This audience has been underserved forever," says Marc Leonard, head of content and marketing, Consumer marketing will ramp up in the fall around launch time.
  • "We launched 17 years ago and very little has changed in the representation of this audience in big media since."

Details: The service, which launches this week in beta, will cost around $1.99 monthly, or $19.99 annually, says Fuse Media CEO Miguel “Mike” Roggero.

  • It will include 500 hours of content at launch, and will add more on an ongoing basis, The service will also include a limited number of connected TV ads.
  • "The goal to be broadly-distributed on as many platforms as possible at launch," says Leonard.

By the numbers: "We're in the high 8-figure revenue level," Roggero says. "We've been consistently profitable, which is why we can continue to invest in growth opportunities."

  • Today, Fuse has roughly 100-125 employees, most of which are based in Los Angeles. The company makes its money from affiliate fees for its linear TV channel, international license fees, and ads. Consumer subscriptions via this streaming service will be a new business line.

Flashback: Last year, Fuse Media sold a majority stake to a Latino-led management group, led by Roggero alongside several other Fuse executives.

  • The company filed for bankruptcy in 2019 and reemerged shortly after. Like many specialized cable networks, it's struggled financially amid a changing TV landscape and cord-cutting.
  • More recently, it's invested a lot in streaming. The company has launched three free, ad-supported streaming services recently, including Fuse Backstage is music-focused service, Fuse Beat, a hip-hop and Black culture service, and Fuse Sweat, an at-home fitness service centered around 80s fitness culture.

Go deeper

Aug 10, 2021 - Economy & Business

Investment in digital media slows, years after venture-backed boom

Expand chart
Data: Pitchbook; Table: Axios Visuals

Media upstarts are attracting far less cash compared to the venture-backed media boom of 2014 and 2015, according to new data from Pitchbook.

Why it matters: Investors are no longer willing to shell out hundreds of millions of dollars on new digital media sites, given how long it's taken for some of those investments to materialize and drive major returns.

29 mins ago - Technology

Scoop: Facebook exec warns of "more bad headlines"

Illustration: Annelise Capossela/Axios

In a post to staffers Saturday obtained by Axios, Facebook VP of global affairs Nick Clegg warned the company that worse coverage could be on the way: “We need to steel ourselves for more bad headlines in the coming days, I’m afraid.”

Catch up quick: Roughly two dozen news outlets had agreed to hold stories based on leaked materials from Facebook whistleblower Frances Haugen for Monday publication — but the embargo fell apart Friday night as participating newsrooms posted a batch of articles ahead of the weekend.

"Atmospheric river" to whiplash Northern California from drought to flood

A map depicting 24-hour preciptation forecast (inches) ending Monday at 5a.m. local time. Photo: NOAA

A series of powerful "atmospheric river" storms are set dump historic amounts of rainfall across parts of drought-stricken California and the Pacific Northwest from this weekend, forecasters warn.

Why it matters: A strong atmospheric river, packing large amounts of moisture, is predicted to whiplash Northern California from drought to flood.