Fubo TV ( FUBO Quick Quote FUBO - Free Report) recently announced that Fubo Studio has collaborated with SMAC Productions, the premium content division of SMAC Entertainment, to produce an eight-part documentary series on the evolution of the black quarterback in America. The series will be led by Michael Vick, a black American football quarterback who is known for transforming the quarterback position with his rushing abilities. Vick will be holding a series of conversations with former and current football players, including Patrick Mahomes, Cam Newton, Tony Dungy, Andy Reid and Doug Williams, and will also interact with coaches, cultural figures, celebrities and journalists. Together, they are going to discuss how black quarterbacks redefined the position and the game and became nationwide heroes after years of discrimination. The series will provide insights into its history and context and a glimpse of where the game and the country are going. Football has been the most watched sport in America and people have started to celebrate and support the performance of black quarterbacks. With Michael Vick, who is one of the most cherished football players, leading the show it is expected to gain traction and boost the adoption rate for Fubo. Fubo Expands its Pipeline of Content
Fubo has been focused on providing a go-to cable alternative for a wide variety of entertainment and sports content that can draw viewers and bolster its subscriber base. For this, it also exited from its wagering business, which will allow it to utilize all its resources on strengthening its library.
In August, Fubo partnered with actor and serial entrepreneur Ryan Reynolds and his Maximum Effort Productions, which will launch the Maximum Effort Network, a linear channel on FuboTV. These will bring Deadpool movies, Free Guy, The Adam Project and the unscripted show Welcome to Wrexham and many more to Fubo subscribers, hence expanding their library. Coming to its sports division, Fubo launched the popular original TV series No Chill with Gilbert Arenas, hosted by Gilbert Arenas and Josiah Johnson that started airing on Fubo Sports Network on Oct 30 where they talk with athletes, celebrities and more about basketball and the life around it. This was the network’s most-watched original program and generated 5.4 million total streams. Fubo Sports Network ended September 2022 with its highest viewership to date, marking a 121% increase year over year. Fubo is also bolstering its coverage for sports fans, as it will stream live all 64 matches of FIFA’s Qatar 2022 World Cup. This is expected to magnify the top line. For fourth-quarter fiscal 2022, Fubo has revised its revenue guidance upward to $277.5-$282.5 million in North America, which suggests 22% year-over-year growth while for the rest of the world it is projecting around $5-$6 million. Fubo Faces Competition
As the demand for online sports streaming platforms increases, so do the players in this industry. Fubo is facing stiff competition from renowned companies like
The Walt Disney Company ( DIS Quick Quote DIS - Free Report) , Alphabet ( GOOGL Quick Quote GOOGL - Free Report) and Roku ( ROKU Quick Quote ROKU - Free Report) . Shares of Fubo that currently has Zacks Rank #3 (Hold) have declined 82% year to date. The Zacks Consumer Discretionary sector fell 34% in the same time frame.
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Disney’s HULU has added 20 sports movies so far in 2022, which include
Hardball for baseball fans, Leatherheads for football fans, Ali and Creed II for boxing fans, Hoosiers and Hoop Dreams for basketball fans and much more. For fourth-quarter fiscal 2022, Hulu’s Live TV revenues per paying customer were $86.77, which rose 2.2% year over year. Alphabet’s Google is introducing channels to its streaming television service, YouTube TV. Shows like The White Lotus, House of the Dragon and Westworld will be available on YouTube TV along with NBA games in 4K. The Roku Channel is expanding its genre by introducing channels dedicated to the food and lifestyle icons like The Great British Baking Show Channel and The Block to enjoy authentic stories that inspire and celebrate Black culture. This is expected to aid the company’s top line as Roku anticipates revenues in fourth-quarter fiscal 2022 to rise to $800 million.