Triller expands horizons with purchase of FITE streaming platform
FITE TV is the latest acquisition of Triller owners TrillerNet, the company behind the app that recently televised the comeback of “Iron” Mike Tyson.
Global AI-driven short video social app Triller, headed by TrillerNet, announced it had acquired FITE.
FITE is the premier global live-event and Pay-Per-View, SVOD, AVOD, and streaming platform sports and entertainment.
The deal gives Triller a major foothold in the live-event PPV and streaming space. It greatly expands the reach of Triller’s fast-growing AI-powered content and distribution ecosystem.
Also, allowing the company to continue to invest in a new lifestyle and entertainment programming.
“FITE has been a fantastic partner. The synergy between the two businesses and teams was clear from day one,” said Bobby Sarnevesht, Chairman and Co-owner of Triller, and Ryan Kavanaugh, Co-owner of Triller, jointly.
“With our acquisition of FITE, we bring into TrillerNET their stellar technology, valuable customer, and content partner base. One of the most experienced executive teams in this space.
“The deal represents our ambitions to not only expand Triller Fight Club and grow FITE’s distribution relationships but also to reimagine what, how, and when premium music, sports, and entertainment is delivered to today’s audiences.”
“Triller has an exceptionally visionary executive team that is revolutionizing the world of sports and entertainment. We are very excited to be a part of and play a role in this process,” said Kosta Jordanov, FITE Co-Founder and CEO.
“As part of the TrillerNet, FITE will become the exclusive global digital distributor of all Triller Fight Club events in the future. This content relationship is planned to expand in exciting new ways.
“We will continue to work with and serve all our content partners. We look forward to bringing Triller’s significant user base and promotional clout to all the major events we carry on the FITE platform.”
Triller is used by musicians, athletes, digital talent, and other culture-setters. It serves hundreds of millions of fans worldwide while also providing specialized opportunities for major brands across music, sports, entertainment, fashion, and pop culture.
FITE’s addition is a key strategic addition. Triller seeks to capture the burgeoning ‘culture graph,’ the next generation of creators and users leading the move to Internet 3.0.
“With over 10 million users, FITE is the perfect long-form platform for Triller to continue releasing its cultural content. It spans fighting, sports, fashion, music, and pop culture,” added Ryan Kavanaugh. “We have officially completed our 360-degree content engine with this acquisition.”
The FITE acquisition is the latest major move for TrillerNet. On March 9, acquired leading live-music streaming platform Verzuz, the popular live streaming music platform founded by music stars Swizz Beats and Timbaland.
TrillerNet also owns Triller Flight Club. TFC is a live-event platform in partnership with Snoop Dogg that reimagines boxing as four-quadrant entertainment, and TrillerTV, a long-form content streaming platform.
With over 10 million users and 4 million registered sports and entertainment fans, FITE has streamed over 5,000 live events over the past 5 years.
FITE’s partners include the most elite combat sports brands. They include Top Rank, AEW, PBC, ONE Championship, WWE, Impact, Golden Boy Promotions, and Matchroom Boxing.
FITE has one of the industry’s most scalable and reliable live digital streaming capabilities. It holds a large loyal audience for premium events. Plus, content relationships with over 300 sports rights holders across 5 continents.
In collaboration with its partners, FITE has already streamed the biggest names in combat sports. They include Floyd Mayweather, Manny Pacquiao, and Mike Tyson.
Tyson Fury, Canelo Alvarez, Gennady Golovkin, Roy Jones Jr., Deontay Wilder, and Terance Crawford. Finally, Errol Spence Jr., Teofimo Lopez, and Vasyl Lomachenko.
Alantra acted as a financial adviser to FITE for the transaction.