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From Wikipedia, the free encyclopedia

FuboTV Inc.
TypePublic
NYSEFUBO
IndustryPay television
FoundedJanuary 1, 2015; 6 years ago (2015-01-01)
HeadquartersNew York City, New York,
United States
Area served
United States
Canada
Spain
ServicesStreaming television
RevenueIncrease US$217.746 Million (Fiscal Year Ended 31 December 2020)[1]
DecreaseUS$479.899 Million (Fiscal Year Ended 31 December 2020)[1]
DecreaseUS$599.392 Million (Fiscal Year Ended 31 December 2020)[1]
Total assetsIncrease US$859.349 Million (Fiscal Year Ended 31 December 2020)[1]
Total equityIncrease US$622.948 Million (Fiscal Year Ended 31 December 2020)[1]
SubsidiariesFubo Sports Network, Fubo Gaming
Websitefubo.tv

FuboTV Inc. (stylized as fuboTV) is an American, Canadian and Spanish streaming television service that focuses primarily on channels that distribute live sports, including NFL, MLB, NBA, NHL, MLS, CPL and international soccer, plus news, network television series and movies.[2]

Launched on January 1, 2015 as a soccer streaming service, FuboTV changed to an all-sports service in 2017 and then to a virtual multichannel video programming distributor (vMVPD) model.[3] As a vMVPD, FuboTV still calls itself sports-first but its expanded channel lineup targets cord cutters, offering a selection of major cable channels and OTT-originated features that can be streamed through smart TVs, mobile and tablets and the web.[4] The service is available in the United States, Canada and Spain as of 2018.[5]

There are several service options with different channel lineups, including the base package, with 100+ channels, and add-on packages like Extra, Sports Plus, Latino Plus and Português Plus.[6]

The company said it closed the second quarter of 2021 with nearly 682,000 paid subscribers, a gain of 91,000 subscribers from one year ago, and well ahead of analyst expectations. [7]

FuboTV was added to the Russell 2000 Index at the conclusion of the 2021 Russell indexes annual reconstitution in June 2021. [8]

History

FuboTV was co-founded in January 2015 by David Gandler (CEO), Alberto Horihuela (CMO) and Sung Ho Choi. At launch, FuboTV cost $7 per month and offered live streams from soccer-centric channels. In early 2017, Fubo pivoted to become a broader streaming service, adding entertainment and news programming in addition to soccer and sports from NFL, NBA, MLB and NHL.[9]

During its first five years, investors in FuboTV include AMC Networks, Luminari Capital, Northzone, Sky, and Scripps Networks Interactive.[10] FuboTV was named to Forbes’ Next Billion-Dollar Startups list in 2019.[11]

According to Fast Company, FuboTV still calls itself *sports-first", but instead of being "the Netflix of soccer", it is pitching itself as a direct competitor to cable television and live-streaming bundles such as Sling TV and AT&T TV. FuboTV was the first live-TV streaming service to support 4K HDR video (2018 World Cup), and was the first to adopt an industry standard for handling sports blackouts.[9]

In December 2018, Fubo announced that it was going to expand into Spain.[12]

2019

On February 20, 2019, it was announced that channels from Viacom Networks would be added on April 30, 2019, though these networks do not feature sports content.[13][14] ViacomCBS does own an undisclosed stake in fuboTV, and future VCBS deals will also include CBS carriage.[15]

On March 5, 2019, FuboTV expanded its 4K support to the Big Ten Network.[16]

In May 2019, fuboTV and FanDuel partnered to integrate sports betting data on the live TV streaming service. The deal included carriage of Fanduel's horse racing networks, TVG and TVG2.[17]

On June 19, 2019, FuboTV announced that it will be adding the Discovery Networks, joining the line up of Scripps Networks that were acquired by Discovery.[18]

2020

ViacomCBS channels launched on fuboTV in Spain in 2020.[19]

On January 1, 2020, FuboTV dropped the Fox Sports Networks, citing increasing carriage costs after the acquisition of the channels by the Sinclair Broadcast Group.[20]

FuboTV launched the NHL Network on March 9, 2020 with plans to add the MLB Network and MLB Strike Zone, allowing it to have all four professional sports league networks on its platform.[21]

On March 23, 2020, fuboTV was acquired by FaceBank Group, a publicly listed virtual entertainment technology company founded by media technology entrepreneur John Textor. fuboTV was renamed fuboTV Media, Inc., and Facebank Group was renamed fuboTV, Inc., to be led by original fuboTV CEO David Gandler. According to the article, fuboTV plans to leverage Facebank's IP portfolio to create new streaming experiences for consumers and also expand internationally. FaceBank is traded on the OTC exchange and, following the merger, Gandler noted the company plans to uplist to a major stock exchange.[22] Following its merger with FaceBank Group, FuboTV began trading on the OTC under the ticker symbol FUBO.

In the months following the merger, John Textor resigned his post as Executive Chairman, and the company named former Warner Music Group Chairman Edgar Bronfman Jr. as Executive Chairman of the Board. Other directors, such as early Spotify investor Par-Jorgen Parson and venture capitalist Daniel Leff were also named to the Board. All three were early investors in FuboTV.[23]

In June 2020, FuboTV announced a long-awaited deal with Disney Media Networks to bring ESPN Inc., and Walt Disney Television (including ESPN and its networks and ABC, along with children's networks such as Disney Channel) to the sports-focused streaming service sometime in the summer. The deal was to make FuboTV a "force in sports streaming," according to Fortune.[24] It would go live on August 1.[25]

On July 1, 2020, FuboTV dropped WarnerMedia networks, including CNN, TBS and TNT.[26]

On September 15, 2020, FuboTV said it expected to close 2020 with 410,000–420,000 subscribers as a result of the return of sports during the COVID-19 pandemic. The company also announced it was approved to list on the New York Stock Exchange (NYSE) "conditional upon successful pricing of this offering, under the ticker symbol FUBO."[27]

On October 7, 2020, fuboTV completed its initial public offering as a New York Stock Exchange company, raising roughly $183 million in proceeds.[28]FuboTV began trading on the NYSE under the ticker symbol "FUBO" on October 8, 2020, as fuboTV shares jumped 10% in their market debut.[29]

FuboTV delivered what it said was record revenue and subscriber numbers during the third quarter of 2020. The company also announced its plans to enter the online sports wagering market with details to be announced.[30]

In December 2020, FuboTV acquired Balto Sports, which owns contest automation software. The company said the acquisition marked the first step of its online wagering strategy, which will start with free to play games and then expand into wagering integrated with its live streaming video.[31]

FuboTV added more premium entertainment with the launch of EPIX and STARZ channels in December 2020.[32] It also reached an agreement with Nexstar Media Group to begin carrying WGN America in January 2021.[33]

2021

In January, FuboTV announced more details of its expansion into online sports wagering. With the December 2020 Balto Sports acquisition, the company said it plans to launch a free to play gaming app by the summer of 2021. The app will be available to all consumers nationwide, whether they are FuboTV subscribers or not. The company also said it plans to integrate free gaming into the FuboTV platform. Additionally, FuboTV announced it intends to acquire sports gaming company Vigtory and will launch its own sportsbook before the end of the year. With the Vigtory acquisition, FuboTV will also receive Vigtory's pipeline of market access deals, including a completed agreement with Iowa through Casino Queen. Like free gaming, the company said it plans to launch the sportsbook as an app first before integrating it into the FuboTV user experience. FuboTV CEO told The Wall Street Journal he expects sports wagering to not only generate more revenue for FuboTV but also make it more likely that customers will pay closer attention to sports and tune in more often.[34]

In its fourth quarter 2020 earnings results reported in March 2021, FuboTV said it exceeded $100 million in quarterly revenue for the first time. [35]

Also during its 2020 earnings report, FuboTV said it would launch free-to-play predictive gaming in the third quarter 2021. FuboTV also announced it closed the previously announced Vigtory acquisition and had established Fubo Gaming to oversee its entry into online sports wagering. Fubo Gaming is expected to launch Fubo Sportsbook in the fourth quarter 2021. Fubo also announced it signed agreements with the MLB and NBA to become an Authorized Gaming Operator of each league. These agreements will provide access to official data and include league marks and logos within Fubo Sportsbook once it is rolled out. [36]

FuboTV announced in May 2021 that the first quarter was its strongest in its history, delivering $119.7 million in revenue, an increase of 135% year-over-year, and growing total subscribers to 590,430, up 105% year-over-year. CEO David Gandler called the quarter an "inflection point" for FuboTV as it was the first time the company grew revenue and subscribers sequentially in any first quarter despite seasonality trends. [37]

On June 1, Fast Company reported FuboTV would begin beta testing predictive, free-to-play games and a live stats feature called FanView, both integrated into its streaming video. The beta test would begin during FuboTV's exclusive streams of the South American CONMEBOL 2022 FIFA World Cup qualifying matches that month. The company said they plan to officially launch free gaming timed to the NFL season. FuboTV also said it expects gaming to be an engagement driver and noted it is the first step on its gaming roadmap, which will include the launch of Fubo Sportsbook later in 2021. [38]

On June 30, 2021, FuboTV dropped services from A&E Networks, among them included History, A&E and Lifetime.[39]

Fubo Sports Network

On June 27, 2019, FuboTV announced it launched a free ad supported linear channel called fubo Sports Network. The network is free to consumers on XUMO.[40] fubo Sports Network later launched on smart TVs like Samsung TV Plus and LG Channels powered by XUMO[41] and on The Roku Channel.[42]

After the initial soft-launch, the company announced on September 9, 2019, that it would be adding a slate of sports-oriented original programming to fubo Sports Network. Including "Call It A Night" and "Drinks With Binks," two talk shows hosted by journalist and comedian Julie Stewart-Binks; "The Cooligans," a soccer talk show hosted by New York comedians Alexis Guerreros and Christian Polanco; and "The Players' Lounge" hosted by Soccer Hall of Fame inductee Cobi Jones and PJ Harrison.[43] The company also made the live stream of fubo Sports Network available at the fubo Sports Network website

fubo Sports Network was added to the new Vizio Channels platform in April 2020.[44]

The company announced a partnership with former NBA All Star Gilbert Arenas to bring his "No Chill" podcast to fubo Sports Network as a weekly vodcast beginning May 2020. Retitled "No Chill with Gilbert Arenas," the show features Arenas and co-host Mike Botticello interviewing athletes, coaches and celebrities.[45]

As of May 19, 2020, Fubo Sports Network is available on 75 million devices, according to the company.[46]

In May 2021, Fubo Sports Network announced it has partnered with Terrell Owens and Matthew Hatchette to turn their podcast, Getcha Popcorn Ready, into a TV show. The new show will begin airing on Fubo Sports Network later this year. [47]

Fubo News

fuboTV launched a blog, fubo News, covering the latest sports news, analysis, insights and breakdowns "of the action on and off the field" in 2019.[48]

Features

FuboTV built its tech stack internally[49] and, in 2017, launched features like Cloud DVR storage, pausing and unpausing live streams and lookback of previously aired content for 72 hours[50] FuboTV offers two simultaneous streams as part of its base subscription package and, in March 2018, introduced a third stream for $5.99 per month.[51]

FuboTV became the second over-the-top internet television service to get integrated to the TV app on Apple TV, iPhone, and iPad.[52]

Supported devices

TV-connected

Mobile

Computer

  • Windows, Mac, and Linux with a compatible browser. Google Chrome is recommended but not the only compatible browser.

Marketing

In September 2017, FuboTV introduced Fubo Chávez, a fictional brand spokesperson. The character has appeared in three national TV commercials as well as digital advertising. He is promoted as “the World’s Greatest Fan.”[53]

FuboTV's second national advertising campaign, a series of commercials called "Don't Compromise," launched in August 2018 and targeted cord-cutters.[54]

References

  1. ^ a b c d e "FuboTV, Inc. 2020 Annual Report" (PDF). FuboTV. 31 December 2020. Retrieved 5 August 2021.
  2. ^ "FuboTV Reveals Its Package as It Takes on OTT Rivals in First TV Ads". adage.com. 2017-09-12. Retrieved 2017-09-14.
  3. ^ "FuboTV Launches New Beta of Bigger OTT-TV Service". multichannelnews.com. 2017-02-10. Retrieved 2019-08-14.
  4. ^ "FuboTV is Preparing to Battle Hulu, YouTube TV with Better Technology". businessinsider. 2017-02-11. Retrieved 2019-08-14.
  5. ^ "FuboTV Takes Its Cord Cutting Service Overseas". fastcompany.com. 2017-12-03. Retrieved 2019-08-14.
  6. ^ Channels – fuboTV, retrieved 2019-11-14
  7. ^ "Streaming Pay TV FuboTV Breezes Past Wall Street Q2 Forecasts". Deadline. 2021-08-10. Retrieved 2021-08-11.
  8. ^ "Russell 2000 Index Companies". CNN. 2021-07-07. Retrieved 2021-07-07.
  9. ^ a b "The little live-TV streaming service that could – Fast Company". fastcompany.com. Retrieved 2018-08-09.
  10. ^ "Streaming sports service fuboTV raises $75 million from AMC and others – TechCrunch". techcrunch.com. Retrieved 2018-04-20.
  11. ^ "Next Billion Dollar Startups". forbes.com. 2019-07-16. Retrieved 2019-08-14.
  12. ^ Bouma, Luke (2018-12-03). "fuboTV is Launching in Spain". Cord Cutters News. Retrieved 2019-02-21.
  13. ^ NICKINSON, Phil (2019-04-25). "fuboTV adding Viacom channels on April 30, 2019". Cord Cutters News. Retrieved 2019-04-27.
  14. ^ Bouma, Luke (2019-02-20). "fuboTV Adds Viacom Channels Including MTV, Comedy Central, Nickelodeon & More". Cord Cutters News. Retrieved 2019-02-21.
  15. ^ "ViacomCBS Sharpened Streaming Focus Via Deals". The Hollywood Reporter. December 29, 2020.
  16. ^ Bouma, Luke (2019-03-06). "fuboTV Expands 4K Support to The Big 10 Network". Cord Cutters News. Retrieved 2019-03-09.
  17. ^ Perez, Sarah (2019-05-23). "FanDuel Partners With FuboTV To Bring Sports Betting Data to the Live TV Streaming Service". TechCrunch. Retrieved 2019-11-14.
  18. ^ Bouma, Luke (2019-06-19). "fuboTV is Adding 13 Discovery Networks Joining HGTV & Food Network". Cord Cutters News. Retrieved 2019-07-03.
  19. ^ Staff (2020-03-25). "ViacomCBS Networks Espana ce alia con la plataforma fuboTV". Europa Press. Retrieved 2020-05-01.
  20. ^ Bouma, Luke (2020-01-01). "fuboTV drops Fox Regional Sports Networks". Cord Cutters News. Retrieved 2020-01-02.
  21. ^ Buckholtz, Andrew (2019-03-09). "fuboTV Adds MLB Network, MLB Strike Zone and NHL Network to Various Tiers". Awful Announcing. Retrieved 2019-03-24.
  22. ^ "Streaming Company fuboTV Agrees to Combine with FaceBank". Bloomberg.com. 2020-03-23. Retrieved 2020-03-24.
  23. ^ "FuboTV Appoints Par Jorgen Parson to Board of Directors". TheOrg.com. 2020-05-26. Retrieved 2020-05-26.
  24. ^ Jenkins, Aric (2020-06-24). "fuboTV Deal with Disney Makes It a Force in Sports Streaming". Awful Announcing. Retrieved 2020-06-29.
  25. ^ Gurwin, Jason. "fuboTV to Start Streaming ESPN, Disney Channel, ABC & Others Tomorrow (August 1st)". The Streamable. Retrieved 2020-08-04.
  26. ^ Barnes, Jess (2020-07-01). "fuboTV Drops Turner Networks, Announces Price Increase". Cord Cutters News. Retrieved 2020-07-01.
  27. ^ "FuboTV Sees Higher Revenue, Sub Growth in Q3". BroadcastingAndCable. 2020-09-15. Retrieved 2020-09-15.
  28. ^ "Streaming provider fuboTV raises $183 million in IPO ahead of NYSE debut". BusinessWire. 2020-10-07. Retrieved 2020-10-07.
  29. ^ "Streaming Service Provider FuboTV Jumps 10% in NYSE Debut". Reuters. 2020-10-08. Retrieved 2020-10-08.
  30. ^ Evans, Pat (2020-11-11). "FuboTV's Strong Quarter". Front Office Sports. Retrieved 2020-11-11.
  31. ^ Lukovitz, Karlene (2020-12-02). "FuboTV Moves Toward Sports Betting With Balto Sports Acquisition". Mediapost. Retrieved 2020-12-07.
  32. ^ Barnes, Jess (2020-11-12). "fuboTV Will Begin Offering Epix Add-On Today". Cord Cutters News. Retrieved 2020-12-07.
  33. ^ "Nexstar's Cable Network, WGN America, Reaches First-Ever Carriage Agreement With fuboTV". Business Wire. 2020-12-11. Retrieved 2020-12-22.
  34. ^ "FuboTV Bets on Sports Gambling as Key To Driving More Customers". The Wall Street Journal. 2021-01-12. Retrieved 2021-01-13.
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  36. ^ "FuboTV Earnings Call Transcript". The Motley Fool. 2021-03-02. Retrieved 2021-03-03.
  37. ^ "FuboTV Shares Rise on Better-Than-Expected Q1 Results, Subscriber Growth". Deadline. 2021-05-11. Retrieved 2021-05-12.
  38. ^ "Would You Bet on Sports Through Your TV? FuboTV Is Trying to Find Out". fastcompany.com. 2021-06-01. Retrieved 2021-06-02.
  39. ^ Barnes, Jess (2021-07-01). "fuboTV Drops Six A&E Channels From Its Lineup". Cord Cutters News. Retrieved 2021-07-02.
  40. ^ Spangler, Todd (2019-06-27). "fuboTV Launches Free, Ad-Supported Streaming Sports Network". Variety. Retrieved 2019-08-07.
  41. ^ Lopez, Matt (2019-07-24). "fuboTV Launches Free, Ad-Supported Streaming Sports Network On Samsung and LG TVs". The Wrap. Retrieved 2019-08-07.
  42. ^ Perez, Sarah (2019-08-13). "Roku Expands Its Free Live TV Selection with 5 More Channels Including Fubo Sports Network". Techcrunch. Retrieved 2019-08-20.
  43. ^ Spangler, Todd (2019-09-09). "FuboTV Unveils Lineup for Free Streaming Sports Network". Variety. Retrieved 2019-10-15.
  44. ^ Spangler, Todd (2020-04-07). "Vizio Adds 30 Free Streaming Channels to Smart TVs". Variety. Retrieved 2020-05-01.
  45. ^ Lafayette, Jon (2020-04-20). "EX NBA Star Arenas Brings Podcast to Fubo Sport". Broadcasting & Cable. Retrieved 2020-05-01.
  46. ^ Lafayette, Jon (2020-05-19). "Fubo Sports Network Launches on Pluto TV". Broadcasting & Cable. Retrieved 2020-05-09.
  47. ^ "FuboTV Pitches World Cup and Ad Targeting at NewFronts". Adweek. 2021-05-03. Retrieved 2021-05-12.
  48. ^ "fubo News". fubo News. Retrieved 2019-03-24.
  49. ^ "5 Questions with FuboTV CEO David Gandler". thewrap.com. 2018-11-14. Retrieved 2019-08-20.
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External links

This page was last edited on 3 September 2021, at 04:45
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