21st Century Fox has invested $100 million in Caffeine, a video game-streaming service similar to Amazon's Twitch, according to Fortune.
Amazon purchased Twitch in 2014 for $970 million, and the website averages 15 million daily users. Caffeine is still in the beta stage, and Lachlan Murdoch, tCEO of New Fox, which is made up of Fox's media assets that are not being sold to Disney, will join Caffeine's board of directors.
"This is a game-changing deal for us,” said Ben Keighran, Caffeine's co-founder and CEO. "[Mr. Murdoch's] knowledge and experience in live event and programming will be an invaluable asset to us as we continue to grow and expand our content offerings. We believe that with his incredible vision and creativity, we are many steps closer to achieving our goal of transforming the way people discover, consume and pay for live broadcasting together."
Fox will look to expand streaming options beyond gaming, and hopes to leverage their Live Nation partnership to bring weekly live concerts to the platform.