June 13, 2022
Online sports-themed streaming service FuboTV June 13 announced the launch of a free ad-supported streaming TV (FAST) platform for Trusted Media Brands (TMB). The 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
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TMB’s channels claim a combined viewership of more than nine billion minutes consumed over the past year, and more than 250 million combined followers across social media.
“Launching TMB’s brands on FuboTV enables us to expand our programming offering while keeping costs low for consumers,” Henry Ahn, chief business officer for FuboTV, said in a statement. “These channels offer a wide range of sports, news and entertainment content that are a perfect complement to FuboTV’s premium channels.
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, FuboTV 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).
“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/CEO of FuboTV. “Diversifying our revenue streams, particularly with our ad sales business, is one of many strategies we are deploying to achieve our profitability targets.”