Unforeseen Closure
Caffeine, a sports streaming service bolstered by nearly $300 million from heavyweights like Fox and Disney, has unexpectedly ceased operations. As of June 26, 2024, the platform announced its shutdown due to continued financial losses.
“We’re at the point where we are still not quite profitable, so we’ve made the decision to end the service as of June 26th as we figure out our next steps. It has been a wild ride, with quite a few achievements along the way,” the Caffeine TV team shared on their website.
Impressive Lineup Cut Short
Launched in 2016, Caffeine originally aimed to rival Twitch and YouTube in the live streaming arena before pivoting to sports content with backing from Fox and Disney. The service featured offerings from 200 sports partners across 17 categories, including a recent partnership with LIV Golf. Despite this, financial woes proved insurmountable, leading to its sudden closure.
Competitive Pressures
One of the challenges Caffeine faced was the non-exclusivity of some of its content. For instance, LIV Golf is also available on the CW and YouTube, diminishing the need for Caffeine’s app for viewers already subscribed to these platforms.