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FuboTV Expands Fast Channels Strategy With Addition of TMB (Trusted Media Brands)
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Positive)
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Rhea-AI Summary
FuboTV Inc. (NYSE: FUBO) has launched TMB’s award-winning free ad-supported streaming TV (FAST) channels as part of its strategy to enhance content offerings and ad revenue. Subscribers can now access popular channels like FailArmy and People Are Awesome, contributing to a total of over 30 FAST channels on the platform. Since 2022, FuboTV aims to add nearly 100 more FAST channels, aligning with consumer preferences for ad-supported content. This initiative not only diversifies revenue streams but also supports FuboTV’s goal of achieving profitability.
Positive
Launch of TMB's award-winning FAST channels increases content offerings.
Expansion to over 30 FAST channels enhances viewer engagement.
Strategic alignment with industry's shift towards ad-supported content.
Negative
None.
NEW YORK--(BUSINESS WIRE)--
FuboTV Inc. (NYSE: FUBO), the leading sports-first live TV streaming platform, announced today the launch of TMB’s (Trusted Media Brands) award-winning free ad-supported streaming TV (FAST) channels. Today’s launch is part of Fubo’s strategy to further grow its content offerings and ad revenue through expanded distribution of FAST channels on its subscription service.
FuboTV subscribers can now stream TMB’s popular FAST channels FailArmy, People Are Awesome and The Pet Collective, with WeatherSpy to be launched shortly. FailArmy taps into the latest online humor and culture to bring the freshest and funniest fail videos, pranks, comedy, original series and more; People Are Awesome features jaw-dropping stunts, expert fitness tips, inspiring athlete documentaries and adventure travel series; The Pet Collective offers the best pet videos, news, products, how-to’s and more. TMB’s channels have amassed a loyal following with a combined viewership of over nine billion minutes of watch time over the past year and more than 250 million combined followers across social media.
The TMB channels join more than 30 FAST channels now distributed by FuboTV, including ABC News Live, Bloomberg Quicktake, Estrella TV, FOX Weather, FOX Soul and Live NOW by Fox, Law&Crime Network, Swerve Sports and Tastemade Travel. FuboTV also distributes three owned and operated FAST channels: Fubo Sports Network, Fubo Movie Network and Fubo Latino Network.
Since the start of 2022, the company has added nearly 20 FAST channels with the goal of launching approximately 100 more by the end of the year. The strategy aligns with an overall industry shift to ad-supported content as studies show consumers prefer these services over more expensive options. (Morning Consult survey research; May 2022).
“Launching FAST channels, like TMB’s popular brands, on FuboTV enables us to expand our programming offering while keeping costs low for consumers,” said Henry Ahn, chief business officer, FuboTV. “These channels offer a wide range of sports, news and entertainment content that are a perfect complement to FuboTV’s premium channels.”
“As the industry leans into ad-supported content, we believe a more robust portfolio of FAST channels as part of FuboTV’s content offering will benefit customers, advertisers and investors,” said David Gandler, co-founder and CEO, FuboTV. “Diversifying our revenue streams, particularly with our ad sales business, is one of many strategies we are deploying to achieve our profitability targets.”
About FuboTV
With a mission to build the world’s leading global live TV streaming platform with the greatest breadth of premium content, interactivity and integrated wagering, FuboTV Inc. (NYSE: FUBO) aims to transcend the industry’s current TV model. FuboTV Inc. operates in the U.S., Canada, France and Spain.
Leveraging its proprietary data and technology platform optimized for live TV and sports viewership, FuboTV Inc. aims to turn passive viewers into active participants and define a new category of interactive sports and entertainment television. The company's sports-first cable TV replacement product, FuboTV, offers U.S. subscribers more than 100 live sports, news and entertainment networks and is the only live TV streaming platform with every Nielsen-rated sports channel (source: Nielsen Total Viewers, 2021). Subscribers can interact with FuboTV’s live streaming experience through predictive free-to-play games, which are integrated into select sports content.
Fubo Gaming Inc., a subsidiary of FuboTV Inc., launched Fubo Sportsbook, a next-generation mobile sportsbook purpose-built to integrate with FuboTV, in 2021.
This press release contains forward-looking statements of FuboTV Inc. (“FuboTV”) that involve substantial risks and uncertainties. All statements contained in this press release that do not relate to matters of historical fact are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including statements regarding anticipated live events. The words “could,” “will,” “plan,” “intend,” “anticipate,” “approximate,” “expect,” “potential,” “believe” or the negative of these terms or other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that fuboTV makes due to a number of important factors, including but not limited to risks related to our pursuit and engagement in acquisitions; our actual operating results may differ significantly from our guidance; risks related to fuboTV’s access to capital and fundraising prospects to fund its ongoing operations and support its planned growth; risks relating to diverting management’s attention from FuboTV’s ongoing business operations to address integration and fundraising efforts; the restrictions imposed by content providers on our distribution and marketing of our products and services; our reliance on third party platforms to operate certain aspects of our business; risks related to our technology, as well as cybersecurity and data privacy-related risks; our ability to achieve or maintain profitability; our revenue and gross profit are subject to seasonality; our operating results may fluctuate; our ability to attract and retain subscribers; we may not be able to license streaming content or other rights on acceptable terms; risks related to our ability to capitalize develop and market a sports wagering offering and the regulatory regime and related risks associated with such offering; risks related to the difficulty in measuring key metrics related to our business; risks related to the highly competitive nature of our industry; risks related to ongoing or future legal proceedings; and other risks, including the effects of industry, market, economic, political or regulatory conditions, future exchange and interest rates, and changes in tax and other laws, regulations, rates and policies, including the impact of COVID-19 on the broader market. Further risks that could cause actual results to differ materially from those matters expressed in or implied by such forward-looking statements are discussed in our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2022 filed with the Securities and Exchange Commission (“SEC”) on May 10, 2022 and our other periodic filings with the SEC. We encourage you to read such risks in detail. The forward-looking statements in this press release represent FuboTV’s views as of the date of this press release. FuboTV anticipates that subsequent events and developments will cause its views to change. However, while it may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. You should, therefore, not rely on these forward-looking statements as representing FuboTV’s views as of any date subsequent to the date of this press release.
