Buzzer, a mobile-focused sports streaming service, has announced the cessation of its operations just two months after shutting down its consumer app and shifting towards licensing its technology to third parties.
Founded in 2020, Buzzer's platform offered notifications regarding exciting matches or anticipated moments, allowing users to pay for live streams through micro-transactions. The company aimed to appeal to Gen Z audiences, who typically consume sports content through near-live highlights. Buzzer had raised a total of $44 million in funding, including $20 million in April, to support its transition to a business-to-business (B2B) strategy.
Founder and CEO Bo Han had previously mentioned ongoing discussions with broadcasters and rights holders, along with planned tests during the summer. However, the challenging market conditions have led Buzzer to conclude that it cannot fulfil its vision.
In a statement, Buzzer expressed its disappointment, saying, "Since our founding, Buzzer aimed to reimagine live sports consumption in partnership with rights holders, facilitating connection with Gen Z fans and addressing the generation gap in live viewership facing our industry - first as a D2C mobile app, and recently as a technology provider. As of today and with a heavy heart, we are formally winding down our operations. Recent fundraising developments and market dynamics have informed this outcome despite our very best efforts to continue building Buzzer."