Male Millennial Opps: FuboTV increases spend as sporting events pick back up (Score 43)

FuboTV experienced an 83% rise in revenues in 2020, according to execs in its full-year earnings call. The global pandemic caused months of little live sports TV, but sports programming notably returned in Q4. FuboTV's paid subscriber count grew 73% to 547.9k. Much of its 2020 growth was due to marketing investments, so to continue the upward tick in revenue, FuboTV's leadership will likely keep its marketing spend up this year as well. Specifically, execs detailed that they "definitely see advertising to become a more prominent part of our business in the longer term."

iSpot reports FuboTV has spent approximately $7.4m on national TV commercials so far in 2021, almost half the approximately $18.2m it spent in all of 2020. By this point last year, it hadn't utilized this channel, and it didn't do so in 2019. FuboTV's 2021 commercials have targeted male sports enthusiasts via shows such as NHL Hockey, College Basketball, On the Fly, NHL Tonight and The Andy Griffith Show. 

According to Pathmatics, the company has allocated roughly $928.9k toward digital ads so far this year, up 24% from the roughly $748.6k it allocated within the same 2020 timeframe. FuboTV's estimated full-year 2020 spend grew by 60% to $6.4m from that of $4m in 2019. YTD, it has earned around 283.8m digital impressions via desktop display (68%), Facebook (16%), mobile display (15%) and Instagram (1%) ads. The majority of this year's desktop display ads (31%) were placed site direct onto youtube.com; additional top targeted sites include football.fantasysports.yahoo.com and reddit.com.

Additionally, Magellan reveals FuboTV has aired 33 podcast ads within the past 12 months.

This company typically targets male millennials; as I briefly mentioned, its spend will remain high in 2021. These spending increases make sense considering FuboTV's recent IPO. Per Kantar, it also invests in radio (as of 2020) and local broadcast.

Agency & martech readers - Going public also made FuboTV vulnerable to review; keep the company on your radar for future work.