21st Century Fox finally made its play into gaming and esports, announcing a $100 million investment into streaming platform Caffeine. The deal includes a newly formed venture called Caffeine Studios that is jointly owned by FOX Sports and Caffeine. The new studio will leverage FOX Sports’ expertise in live events and programming to create exclusive esports, video game, sports, and live entertainment content for Caffeine’s next-generation social broadcasting platform. The round includes participation from existing Caffeine investors Andreessen Horowitz and Greylock Partners, and other undisclosed partners. Caffeine also announced a content agreement with Live Nation to bring live music concerts to the social broadcast platform in Q4 2018. 21CF’s stakes in Caffeine and Caffeine Studios will be part of the proposed new Fox, the company that will be formed upon completion of the proposed transaction between 21CF and The Walt Disney Company.

“The combination of the Caffeine platform with a content studio that benefits from Fox Sports’ expertise in live events and programming will help position Caffeine to deliver compelling experiences in esports, video gaming and entertainment,” said Lachlan Murdoch, 21CF’s Executive Chairman. “We are excited to partner with Caffeine and build something special for fans in the growing live social streaming esports and gaming space.”