Struum Raises $7 Mln to Bring Video Streaming Back to Its Roots

Struum, an entertainment startup based in Los Angeles, has raised $7 million in funding to continue aggregating video streaming services and make entertainment more accessible to users.

The Series A funding round, which was led by Corus Entertainment with participation from Gaingels, will allow Struum to expand its content library, improve its technological infrastructure, and expand globally. Doug Murphy, President and CEO of Corus Entertainment, referred to the firm’s participation by stating:

“Struum is at the forefront of innovation with its unique credit-based subscription service, backed by a talented team of senior executives with deep experience in the subscription video and content space. We are excited to be a part of this highly differentiated streaming product as both a lead investor and as Struum’s exclusive launch partner for the Canadian market.”

Struum was Founded in 2020 by senior-level Disney and Discovery executives Lauren DeVillier, Eugene Liew, Paul Pastor, and Thomas Wadsworth. The startup is looking to become a global entertainment hub by bringing multiple streaming services to a single platform.

With a monthly subscription of just $4.99, the platform offers shows and movies from more than 60 services. As a result, users will no longer need to go through the hassle of dealing with multiple platforms and subscriptions to access limited catalogs. Paul Pastor, CBO of Struum, said in this regard:

“Our core mission with Struum is to help content owners get their content discovered and help viewers discover great content. The investment from Corus, Gaingels and our other investors will play a pivotal role in enabling us to further build out a world class user experience that enables us to over deliver on our mission and establish us as a key player in the streaming industry.”

According to Allied Market Research, the global video streaming market is expected to reach over $149 billion by 2026. As more people use subscription-based services, the model has become the predominant force in the industry despite the increasing inconveniences they represent for users. With most major media companies opting to launch their own on-demand services, users are being forced to subscribe to multiple services to access their favorite content.

Having to subscribe to multiple video streaming services doesn’t only result in increased costs but also in dealing with multiple applications, low-quality content, advertisements, and uncertainty on which platform will offer their favorite service. By aggregating these services, Struum is aiming to bring back the main benefit that made streaming appealing to consumers: simplicity and accessibility.