As it tries to reverse a tide of red ink, FuboTV is rebranding its internet pay-TV service Fubo — and the company unveiled a new brand campaign co-produced with Maximum Effort, the advertising and production company headed by Ryan Reynolds, who’s an investor in Fubo.
Fubo’s new nationwide ad campaign features NBA champion and Hall of Famer Kevin Garnett (pictured above) and former NFL quarterback Mark Sanchez, with the tagline, “If Sports Fans Built a Streaming Service.” The multiplatform campaign comprises a series of 15- and 30-second TV spots and digital display ads.
Maximum Effort, co-founded by Reynolds and George Dewey, owns $10 million worth of shares in Fubo under a multiyear, first-look deal for unscripted content the production company inked with Fubo.
“The reason Maximum Effort believes in Fubo is [because] it’s the one product that captures the best of cable and the best of streaming, while having the very meaningful differentiator of live sports,” Reynolds said in a statement. “While cable fights cord-cutters and streaming services fight the cash content war, Fubo is building an experience and suite of services that can win.”
Fubo’s primary competitors are YouTube TV (which last week announced a 12% price hike) and Disney’s Hulu + Live TV.
As of the end of 2022, Fubo reported 1.445 million subscribers in North America, gaining 214,000 in the fourth quarter and increasing 29% year over year. The company’s fourth quarter revenue in North America was $312 million, an increase of 36%. However, Fubo continues to post heavy losses: In Q4, the company’s net loss from continuing operations was $95.9 million, roughly flat with the year-earlier period.
“Alongside our continued growth, our consumers have affectionately shortened our name to Fubo and we feel that name represents the premium media brand we are today,” co-founder and CEO David Gandler said in a statement. “We’re building on this momentum with an updated visual identity and new ad campaign, created in partnership with Ryan Reynolds’ Maximum Effort, to continue to drive profitable growth as we head into baseball season.”
Here’s the new Fubo logo, which the company said will roll out across its products and apps over the coming months:
Watch three of the new Fubo ads, the first two featuring Garnett and Sanchez:
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