David Gandler, Co-Founder and CEO of fuboTV, has stated that Fubo Sportsbook is in the ‘very early innings of a massive opportunity’ following its launch in 2021.
Commenting on fuboTV’s full-year 2021 financial results, Gandler noted he was pleased with the progress its sportsbook was making following market entry in Iowa and Arizona.
Gandler commented: “fuboTV delivered a record fourth quarter and full-year across a number of our key financial and operational metrics. Engagement continues to be strong as we add differentiated content to our offering and focus on innovating our product to meet consumer preferences and drive a premium experience.
“Our expansion into real-money wagering is underway with the launch of Fubo Sportsbook across two states with additional states expected to follow this year. This launch represents a differentiated and industry-first integration of streaming and a sports wagering product and we see ourselves in the very early innings of a massive opportunity.”
fuboTV has reported record revenues in 2021 of $638m, including a $1m impact of the December 2021 acquisition of French live streaming TV company Molotov. Excluding Molotov, its total annual revenue was $637m, a 144% improvement over 2020.
The firm also announced its 2022 guidance, as it expects over $1bn in total revenue. However, this guidance does not include any projected revenues from online sports wagering.
Within North America, fuboTV forecasts Q1 2022 revenue of $232m-$237m and full-year 2022 revenue of $1.08bn-$1.09bn. The firm expects its subscriber numbers to reach 1.028 million-1.033 million in Q1 2022 and 1.500 million-1.510 million for the full year in the region.
Earlier this year, Fubo Gaming, a subsidiary of streaming platform fuboTV, announced a long-term partnership with Houston Dynamo FC, becoming the official sports betting partner of the club.
