Philo, the over-the-top streaming video service that offers a skinny bundle of cable channels, has raised an additional $40 million.
The new funding comes from existing investors like AMC Networks, Viacom and Discovery Inc. The company has now raised more than $90 million.
Philo says it plans to spend much of the $40 million on marketing the service, which
features more channels at a lower price than many competitors.
The company keeps its prices down by leaving out broadcast networks as well as channels that emphasize sports content. Channels from investors Discovery, AMC, Viacom and A+E networks are all included.
Another OTT startup, FuboTV, places its emphasis on sports TV (at a more premium price point), and is also becoming more aggressive in marketing itself.
YouTube TV, Hulu with live TV, DirecTV Now and Dish’s Sling TV have all launched expensive marketing campaigns in the past year, leaving some of the OTT startups behind.