Fubo TV
FUBO
recently announced that it has expanded the distribution of Fubo Sports Network on Amazon Freevee,
Amazon’s
AMZN
premium free streaming service.
Sports fans on Amazon Freevee can now watch live sports games, award-winning original shows, sports movies and more from the Fubo Sports network.
This makes the channel available on more than 155 million devices, which bolsters the user base of the Fubo sports network without charging the viewers any extra cost.
Fubo Sports Aids Growth at Fubo TV
Fubo Sports Network ended September 2022 with its highest viewership to date, marking a 121% increase year over year.
This growth is not only attributed to Fubo expanding its services on various streaming platforms but also to its efforts towards expanding its original program content.
Airing It Out with Housh and Scandrick
, a football-focused talk show that kicked off with a 2022-23 NFL season preview episode on Sep 6 and
The Young Person Basketball Podcast
with R.J. Hampton that started on Oct 23, including guests like former NBA champion turned successful sports agent Mike Miller, have received traction.
It also released new seasons of popular returning original shows
Getcha Popcorn Ready
with T.O. and
Hatch
hosted by Terrell Owens and
Matthew Hachette and No Chill with Gilbert Arenas
hosted by Gilbert Arenas and Josiah Johnson.
These have magnified impact on Fubo’s ad revenues as it reached $22.5 million in third-quarter fiscal 2022, increasing 21% year over year.
This strong performance is also a result of cord-cutting with consumers shifting to online live streaming. Per
Outlook
, 5 million people have cut cable TV cords in 2022, which is 55.1% of the residents in the United States.
According to a study by
Cord Cutters News
, sports streaming has risen in popularity as 28% of Americans prefer watching sports through a streaming service. This again establishes a huge opportunity for Fubo to achieve strong growth further.
For the 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 which has a Zacks Rank#3 (Hold) is facing stiff competition from renowned companies like
The Walt Disney Company
DIS
and
Dish Network
DISH
.
You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
.
Shares of Fubo have declined 82.9% year to date compared with Disney’s and Dish’s decline of 38.8% and 51.6% respectively. The Zacks
Consumer Discretionary
fell 34.4% in the same time frame.
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.
Dish Network’s Sling TV has popular channels such as NFL RedZone, NBA TV, NHL Network, Golf Channel, beIN SPORTS, Olympic Channel, Tennis Channel and FS2. The platform raised its subscription price by $5 this November, which should add to its top line.
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