FIFA is looking to raise up to $2.97 billion AUD in order to expand its streaming service FIFA+ by working with the Union Bank of Switzerland (UBS).
According to Bloomberg, Football’s governing body is collaborating with UBS Group AG. A formal fundraising process is expected to commence in July, targeting mostly financial investors from the US and the Middle East.
Despite no comments from UBS and FIFA, deliberations are at an early stage with certain details such as timing and fundraising size could change with tFIFA preparing to offer a minority stake in FIFA+.
Launched in April 2022, FIFA+ is a free, ad-supported streaming service that planned to stream over 40,000 live games a year, with at least a quarter of them coming from women’s matches. The streaming service also provided highlights, archive footage, documentaries, docuseries, talk shows and shorts.
Currently, FIFA+ has offered live streaming in smaller broadcasting markets where it was offered for free in countries where it didn’t have the TV rights for the 2023 FIFA Women’s World Cup. The Oceania Football Confederation (OFC) streamed all of its competitions on the platform while also showing live coverage of the FIFA Club World Cup in some territories.
However, FIFA is currently struggling to find a major broadcaster for next year’s FIFA Club World Cup which is set to be held in the U.S.
According to SportsPro Media, Apple reportedly offered FIFA $1.49 AUD for worldwide television rights for the tournament. But, this is much less than FIFA’s intended $5.94 billion AUD.
It is still unclear how FIFA would use these potential funds to improve its current streaming service, but some potential ideas include technological development, marketing and direct rights acquisitions.