On Thursday, FuboTV Inc. unveiled its pick’em games product as a new integration with its live television streaming experience. Fubo is the first company to launch free-to-play sports contests as direct integration with live streaming as it continues to modernize the sports viewing experience. Pick’ems will launch on Sunday, June 19 for select FuboTV subscribers.
FuboTV’s Continued Innovation
As noted 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 is leveraging the growth in popularity of mobile sports betting by integrating betting with the live streaming experience through Fubo Sportsbook.
In addition to the free-to-play pick’em games, FuboTV is also introducing the ability for players in select markets to scan a QR code to place real-money wagers aligned with their picks through Fubo Sportsbook. Pick’em players will be able to predict the outcome of live events directly from the home screen of the streaming platform.
Modernization of Sports Viewing
Extensive research has suggested the growth in the second screen viewing experience with live sports. In other words, broadcasts are often accompanied by individuals researching statistics, interacting with friends, placing wagers, or engaging on social media on a second device.
An Advocado survey found in February 2022 that 49% of viewers use two or more screens while watching football. Other surveys have found that number somewhere around 70%, and it will only continue to grow with the prevalence of mobile sports betting.
A One-of-a-Kind Ecosystem
FuboTV has pioneered the Watch/Wager/Win connection with Fubo Sportsbook to allow fans to place wagers on the sports they are watching and turn “passive viewers into active participants.” Its proprietary feature, Watching Now, engages participants by leveraging first-party data into recommended wagers even as viewers change the channel.
FuboTV has reported that the integrated approach has led to “stronger engagement with crossover users on average placing a greater number of bets and having higher retention rates on the sportsbook than sportsbook-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 both into one ecosystem.”
Fubo’s Leg Up on Bigger Competitors
Consolidation has been a major topic of conversation in the sports betting industry as the top operators such as FanDuel and DraftKings have a massive lead in market share across the country. According to DraftKings CFO Jason Park, “FanDuel and DraftKings alone account for more than 60% of the market versus a ‘long tail of single-digit market share operators.’”
Fubo Sportsbook will likely never measure up in terms of market share to those huge operators, but it has a significant advantage stemming from its existing consumer base. FuboTV reported 1.06 million paid subscribers in North America in Q1 2022. This existing consumer base will boost Fubo Sportsbook’s customer acquisition when it launches in new markets.
According to iSpot.tv, United States sportsbooks spent $282 million on advertising from September 2021 to May 2022, which was a 281% increase over the same nine-month period year-over-year. Fubo will never reach that level of spending, but its existing consumer base and unique product offering will allow it to hold a significant market share as it continues to innovate.
“We believe our built-in 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 streaming TV and sportsbook experience with the rollout of more interactive features this year.”
FuboTV to Launch Pick'em Games, a First-of-its-Kind Gaming Experience Integrating Live TV Streaming and Fubo Sportsbookhttps://t.co/ItFlcWMYfp
— fuboTV PR (@fuboTV_PR) June 16, 2022