Today the live TV streaming service Fubo announced a partnership with iSpot.tv to help measure its video advertising across its platform. Services like this let companies like Fubo better sell ads by showing potential ad buyers how and where their ads will be seen.
According to iSpot they found 40% of ad impressions on Fubo reach households that are typically not reachable on linear TV. Also 17% of ad impressions where delivered by live sporting events.
“Accurately measuring the value of CTV advertising has remained an industry-wide challenge since audiences have migrated from linear TV to streaming,” said David Gandler, co-founder and CEO, Fubo. “It’s paramount that we are able to verify the benefit of Fubo’s CTV inventory and differentiate our audience from that of linear TV. Together with iSpot, we are giving advertisers independent verification and greater transparency into their cross-platform campaigns, which demonstrates the tremendous value of CTV.”
Gandler continued: “Ad sales remains an important growth driver for Fubo as we target profitability in 2025. As we expand our focus to more high-touch programs that drive engagement and greater brand affinity for our ad sales partners, demonstrating Fubo’s reach beyond linear audiences is more important than ever.”
“Brands understand there are unique and valuable audiences consuming premium content on streaming properties, but need independent, reliable measurement to scale investments across linear and streaming with confidence,” said Dan Loewenberg, VP, media partnerships, iSpot.
This comes as Fubo continues to look for ways to raise ad revenues as all services struggle with a soft ad market.
Fubo recently reported total revenues were up 34% year over year in the 1st quarter of 2023 to $316.5 million. In total, though, the net loss for the 1st quarter of 2023 was $83.4 million. The good news is that is an improvement from the $128.4 million they lost during the same period of 2022.
The biggest news here is Fubo has decreased their per-subscriber costs from 101% to 93%. Fubo says they plan to optimize their pricing to further improve their mix of premium plans. Exactly what it means to optimize their pricing is something we will have to wait and find out.
Fubo says in Q2 2023, they project 1,120,000 to 1,140,000 new subscribers, representing 19% year-over-year growth at the midpoint, and revenue of $292.5 to $297.5 million, representing 36% year-over-year growth at the midpoint.
We will have to wait and see how this new partnership can help drive these numbers up.