US fund Point72 Private Investments has led a financing round for Spanish experience economy startup Fever, which has raised over $100 million. The main reason is summed up in the title of an article published by Ishan Sinha, a partner in Point72 Ventures’ investment team, on its website, “When AI helps, not hurts, the entertainment ecosystem: our investment in Fever”.

There have been more participants in the round, such as L Catterton and other funds that had previously invested in the Spanish company. The new capital will enable it to strengthen its position as a global independent technology platform for live experiences. In addition, it will drive growth in music and sports, two industries where it has gained significant momentum over the past year.

Immersive experiences
Fever is a global live entertainment platform that operates in over 40 countries and uses artificial intelligence to help people discover immersive experiences. At the same time, it connects creators and intellectual property rights holders with a larger number of fans, allowing them to increase their revenues.

Unlike other AI tools that are seen as potentially threatening to the work of content creators, Fever aims to work with the entertainment ecosystem. As Ishan Sinha explains, “Through their Fever Originals initiative, they partner with rights holders to develop exclusive and immersive events based on much-loved titles, from Bridgerton and Stranger Things to Van Gogh and The Squid Game. These are more than just themed nights out; we believe they are new ways to monetise content libraries, encourage fan engagement and extend the life of creative work.

Content owners
The Fever technology platform is based on a data-driven engine designed to not only  personalise recommendations for consumers, but also to help optimise pricing, forecast demand and generate incremental revenue.

As Sinha explains, “We don’t see Fever as trying to overtake the entertainment ecosystem; we believe it is facilitating this. Fever’s technology is specifically focused on discovery, distribution and monetisation, and is designed to work with content owners, rather than around them.”

^{Photo: Fever}