US sports streaming company fuboTV has reiterated its plans to launch a sportsbook product in the US sports betting space, as it published its Q2 trading results.
The company’s overall revenue increased by 196% year-on-year to $130.9 million, driven by a triple digit growth in its viewership base of over 138% to 681,721 subscribers, with 91,291 subscribers in the second quarter.
Meanwhile, advertising revenue reached $16.5 million, a year-on-year increase of 281%, and a total of 245 million hours of content was also streamed, representing a growth rate of 148%.
“We are very pleased with fuboTV’s performance in the first half of 2021 and believe that we are well positioned to continue to execute on our long-term financial and operating goals, all while delivering a differentiated and world-class experience to the consumer,” said Edgar Bronfman Jr., executive chairman, fuboTV.
“Our second quarter results showcase the continued momentum in our business, with consumers choosing fuboTV over more expensive legacy pay TV services due to our innovative product experience and customer-friendly approach at an affordable price.”
Earlier this year, the live sport streaming platform detailed its plans to enter the US sports betting industry,acquiring interactive gaming operator Vigtory.
fuboTV intends to leverage its new acquisition’s sportsbook platform and digital gaming assets, as well as it consumer-driven betting technology, to create a frictionless betting experience for its subscribers.
Victory currently maintains a foothold in the state of Iowa via a deal with Casino Queen, and has been in discussions for market access agreements across the eastern half of the US, a region home to lucrative betting and gaming jurisdictions such as New Jersey and New York.
Intended for launch in the fourth quarter of 2021, the fuboTV betting service will initiate as a standalone app before being integrated into its wider user experience, offering current betting odds, a range of wagers
fuboTV also plans on integrating the sportsbook product into its live TV streaming platform for a seamless viewing and wagering experience, offering its subscribers betting options on top of streams of popular sports.
Source – fuboTV Official YouTube Channel