Today Fubo and the Cleveland Guardians announced a partnership that will bring Fubo branding to Cleveland Guardians games. This follows a similar agreement with the Boston Red Sox announced earlier this month.
“Fubo is proud to be a partner of the Cleveland Guardians and expand our leading game coverage to in-person engagement with their fans,” said Yale Wang, senior vice president, marketing, Fubo. “We’re looking forward to working with the team to provide fans with the easiest way to watch the Cleveland Guardians online.”
“We are excited to welcome Fubo into the Cleveland Guardians family of partners,” said Ted Baugh, vice president, corporate partnerships and premium hospitality, Cleveland Guardians. “Fubo is a fantastic streaming option for our fans, allowing them access to local and national broadcasts.”
Fubo allows fans to stream streams Guardians games through regional sports networks (RSNs), local broadcast networks and national sports networks (ESPN and FS1) as well as MLB Network, MLB Strike Zone and MLB.TV. Fubo offers significant local sports coverage of the Cleveland Cavaliers and Cleveland Browns as well.
Fubo also recently 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.
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.
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.