fuboTV ( FUBO Quick Quote FUBO - Free Report) is expanding its international footprint. The company recently acquired exclusive streaming rights to the Qatar World Cup 2022 qualifying matches of the South American Football Confederation. Through its new partnership with CONMEBOL, one of FIFA’s six continental confederations, fuboTV will be live streaming the remaining 70 matches, featuring both English and Spanish commentary. The company has also acquired the re-air and highlight rights. Moreover, fuboTV will produce original programming, including pre-match, half-time and post-match shows, to air throughout the season. Markedly, fuboTV is focusing on expanding its sports streaming offerings. The company has more regional sports networks in its base package than any other live TV streaming platform.
Recently, fuboTV entered into a carriage agreement with Marquee Sports Network, a joint venture between Chicago Cubs and
Sinclair Broadcast Group ( SBGI Quick Quote SBGI - Free Report) , to carry the network’s programming in the Cubs market territory. fuboTV fuboTV’s ability to stream a broad mix of more than 100 live channels — including 42 of the top 50 Nielsen-ranked networks across sports, news and entertainment — is expected to aid subscriber growth in the near term. Markedly, fuboTV ended 2020 with 547,880 paid subscribers, up 73% year over year. Net subscriber additions in fourth-quarter 2020 were 92,800, reflecting an increase of 237% year over year, driven by the company’s sports-first positioning, which differentiates fuboTV from other live TV-streaming platforms. Additionally, growth in streaming hours is expected to boost TV streaming advertising on fuboTV’s platform. Moreover, aided by the company’s carriage agreement with The Walt Disney ( DIS Quick Quote DIS - Free Report) , fuboTV has one of the strongest football offerings in the market and is the only live streaming TV platform with every NFL in-market game and every college conference network. Entry into Online Sports Wagering Key Catalyst
Notably, in fourth-quarter 2020, fuboTV acquired Balto Sports, marking the company’s foray into the online sports wagering market. fuboTV intends to leverage its own proprietary technology and Balto’s contest automation software to launch a free-to-play gaming offering.
Further, Fubo Gaming — a subsidiary of fuboTV — expects to launch Fubo Sportsbook by 2021 end, subject to obtaining requisite regulatory approvals. Fubo Sportsbook aims to create a comprehensive sports and entertainment experience through sports betting and interactive gaming. Additionally, fuboTV is planning to add interactivity to its streaming experience with the launch of a predictive free-to-play gaming app in third-quarter 2021. Zacks Rank & A Stock to Consider
fuboTV currently has a Zacks Rank #4 (Sell).
Nexstar Media ( NXST Quick Quote NXST - Free Report) , sporting Zacks Rank #1 (Strong Buy), is a stock worth considering in the same industry. You can see the complete list of today’s Zacks #1 Rank stocks here. Zacks Names “Single Best Pick to Double”
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