On Thursday, FuboTV Inc. unveiled its pick’em games product as a new integration with its live TV streaming experience. Fubo is the first company to launch free sports competitions as a direct integration with live streaming, while continuing to modernize the sports viewing experience. Pick’ems will launch on Sunday, June 19 for select FuboTV subscribers.
FuboTV’s continuous innovation
As stated in its press release, “FuboTV continues to integrate interactivity and personalization into its live TV streaming experience” with innovation in the sports media space. FuboTV capitalizes on the growing popularity of mobile sports betting by integrating betting into the live streaming experience through Fubo Sportsbook.
In addition to free pick’em games, FuboTV also offers players in select markets the ability to scan a QR code to place real-money bets aligned to their picks through Fubo Sportsbook. Pick’em players will be able to predict the outcome of live events directly from the streaming platform’s home screen.
Sports Viewing Modernization
Extensive research has suggested the growth of the second-screen viewing experience with live sports. In other words, the shows are often accompanied by individuals researching statistics, interacting with friends, placing bets, or engaging in social media on a second device.
An Advocado survey found in February 2022 that 49% of viewers use two or more screens when watching football. Other surveys have found this figure to be around 70%, and it will only continue to grow with the prevalence of mobile sports betting.
A one-of-a-kind ecosystem
FuboTV pioneered the Watch/Wager/Win connection with Fubo Sportsbook to allow fans to place bets on the sports they watch and turn “passive viewers into active participants”. Its proprietary feature, Watching Now, engages participants by leveraging first-party data in recommended bets, even when viewers change channels.
FuboTV reported that the integrated approach led to “stronger engagement with cross-users placing more bets on average and having higher sports betting retention rates than sports betting only players.”
Scott Butera, president of Fubo Gaming, noted that “other media companies are entering into external partnerships with betting companies [while] FuboTV and Fubo Sportsbook have combined the two into one ecosystem.
Fubo’s advantage over bigger competitors
Consolidation has been a major topic of conversation in the sports betting industry, as major operators such as FanDuel and DraftKings have a huge lead in market share across the country. According to Jason Park, CFO of DraftKings, “FanDuel and DraftKings alone have over 60% of the market, against a “long tail of single-digit market share operators.”
Fubo Sportsbook will probably never match up in terms of market share against these huge carriers, but it has a significant advantage stemming from its existing consumer base. FuboTV reported 1.06 million paying subscribers in North America in the first quarter of 2022. This existing consumer base will drive Fubo Sportsbook’s customer acquisition as it launches in new markets.
According to iSpot.tv, sportsbooks in the United States spent $282 million on advertising from September 2021 to May 2022, a 281% increase over the same nine-month period year-over-year . Fubo will never reach this level of spending, but its existing consumer base and unique product offering will allow it to hold a significant market share while continuing to innovate.
“We believe that our integrated video audience will allow us to acquire users more efficiently, with a limited amount of marketing spend,” FuboTV CEO David Gandler noted in the press release. “We will continue to build our fully unified TV streaming and sports betting experience with the rollout of more interactive features this year.”
FuboTV to Launch Pick’em Games, a One-of-a-Kind Gaming Experience Integrating Live TV Streaming and Fubo Sportsbookhttps://t.co/ItFlcWMYfp
— fuboTV PR (@fuboTV_PR) June 16, 2022