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FuboTV Reports Successful Results for Advertisers Adopting Unified ID 2.0 After Becoming First Connected TV Partner
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Rhea-AI Summary
FuboTV Inc. (NYSE: FUBO) announced its success with Unified ID 2.0 advertising campaigns via The Trade Desk, achieving a 112.8% growth in advertiser spend year-over-year. Ad impressions also surged by 25% year-over-year, with a 61.5% increase in spending by advertisers. This initiative allowed for better ad targeting and efficiency, resulting in a 9% reduction in cost per action (CPA) and a 14% improvement in return on ad spend (ROAS) for advertisers. FuboTV aims to leverage its position in connected TV (CTV) to innovate further in advertising technology.
Positive
112.8% growth in advertiser spend compared to available impressions.
61.5% increase in advertiser spending year-over-year.
25% increase in ad impressions year-over-year.
9% reduction in CPA and 14% improvement in ROAS for campaigns using UID 2.0.
Negative
None.
NEW YORK--(BUSINESS WIRE)--
FuboTV Inc. (NYSE: FUBO), the leading sports-first live TV streaming platform, announced today a significant improvement on advertising campaigns transacted using Unified ID 2.0 (UID 2.0) through The Trade Desk’s platform. The first connected TV (CTV) partner to adopt the open-source, interoperable identity initiative, FuboTV has since seen a spend growth rate 112.8% faster than the increase in available impressions. This means advertisers were able to more precisely serve ads, while FuboTV was able to maximize yield and efficiencies for its available inventory, which is entirely addressable, premium video content.
A success for both the buy side and sell side, advertiser spend increased by 61.5% year-over-year, ad impressions increased by 25% year-over-year in addition to an increase in CPMs year-over-year for campaigns transacted through FuboTV using the identity solution.
Advertisers leveraging UID 2.0 can seamlessly tap into first-party data across devices including CTV to achieve reach and scale. In fact, an e-commerce retailer with a large first-party CRM data set that was using UID 2.0 saw better than average performance on campaigns transacted through FuboTV’s ad inventory. Cost per action (CPA) was reduced by 9%, conversion rate was 25% stronger and return on ad spend (ROAS) improved by 14% when compared to overall average campaign performance.
Unified ID 2.0 is a new industry-wide approach to internet identity that aims to preserve the value of relevant advertising while prioritizing consumer privacy and transparency. The solution also decreases the industry’s reliance on third-party cookies, which only account for browser-based environments.
“As the first CTV partner to adopt Unified ID 2.0, FuboTV is constantly innovating to remain at the forefront of advertising technology for streaming,” said Chris Flatley, VP, advertising sales, FuboTV. “The results we’ve achieved since partnering with The Trade Desk on Unified ID 2.0 are a testament to the power of identity-based solutions. We’re just getting started with UID 2.0 and are looking forward to bringing the benefit to even more advertisers across FuboTV’s premium CTV inventory.”
“CTV is a proving ground for new approaches to identity with ID solutions such as Unified ID 2.0, which are aiming to create a more consistent advertising experience across digital media,” said Ash Gangwar, general manager of TV partnerships, The Trade Desk. “As a leader in the CTV space, FuboTV understands the growing importance and benefits of an alternative – identity solution for advertisers, publishers and the consumer."
An increasing number of publishers, supply-side platforms and data and measurement partners are collaborating around Unified ID 2.0 with the goal of achieving a better approach to identity across the open internet. For more information about Unified ID 2.0, please visit the Unified ID solution site.
About FuboTV
With a mission to build the world’s leading global live TV streaming platform with the greatest breadth of premium content and interactivity, 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 125 live sports, news and entertainment networks in its base package 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 Fubo Sportsbook (in markets where available), free games and pick’ems, which are integrated into select sports content.
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 our partnerships, market opportunity, business strategy and plans, trends in CTV streaming and advertising spend, and the features, functionality and benefits of UID 2.0 and FuboTV’s platform. 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 subscribers 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 strategic review of our wagering business, including our ability to identify a strategic partner; 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 June 30, 2022 filed with the Securities and Exchange Commission (“SEC”) on August 8, 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.
What is Unified ID 2.0 and how does it benefit FuboTV (FUBO)?
Unified ID 2.0 is an advertising identity solution that allows advertisers to target their campaigns more effectively across devices, which has resulted in FuboTV experiencing significant growth in ad spend and efficiency.
How much did FuboTV's advertiser spend increase in the last year?
FuboTV saw a 61.5% increase in advertiser spending year-over-year.
What were the improvements in ad performance metrics for campaigns using Unified ID 2.0 on FuboTV?
Campaigns using UID 2.0 achieved a 9% reduction in cost per action (CPA) and a 14% improvement in return on ad spend (ROAS).
How did ad impressions change for FuboTV in the last year?
Ad impressions on FuboTV increased by 25% year-over-year.
