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Fubo Television (FUBO – Free Report) recently announced that it has expanded distribution of Fubo Sports Network on Amazon Freevee, Amazon (AMZN – Free report) free streaming service.
Sports fans on Amazon Freevee can now watch live sports, award-winning original shows, sports movies and much more on the Fubo Sports network.
This makes the channel available on more than 155 million devices, supporting the user base of the Fubo sports network without charging viewers any additional costs.
The growth of Fubo Sports Support on Fubo TV
Fubo Sports Network ended September 2022 with its highest viewership to date, marking a 121% year-over-year increase.
This growth is attributed not only to Fubo expanding its services to various distribution platforms but also to its efforts to expand the content of its original programming.
He distributes it through Housh and Scandricktalk show focusing on football and the 2022-23 NFL 2022-23 NFL preview episode on Sep 6 and The Little Man Basketball Podcast and RJ Hampton that started on Oct 23, including guests like former NBA champion turned successful sports agent Mike Miller, have gained traction.
It also released new seasons of popular returning original shows Getcha Popcorn Ready with TO and Hatching written by Terrell Owens and Matthew Hachette and No Chill with Gilbert Arenas owned by Gilbert Arenas and Josiah Johnson.
These had a growing impact on Fubo’s sales revenue as it reached $22.5 million in the third quarter of fiscal 2022, up 21% year-over-year.
This strong activity is also the result of cord cutting and consumers switching to online services. In theory, 5 million people have cut the TV cord by 2022, which is about 55.1% of the population of the United States.
According to a study by Cord Cutters News, sports streaming has risen in popularity as 28% of Americans choose to watch sports through a streaming service. This also creates a great opportunity for Fubo to achieve even stronger growth.
For the fourth quarter of fiscal 2022, Fubo has revised its revenue guidance to $277.5-$282.5 million in North America, which represents year-over-year growth of 22% while globally it estimates around $5-$6 million .
Fubo Faces Competition
As the demand for online sports streaming platforms increases, so do the players in the industry. Fubo with a Zacks Rank#3 (Hold) faces stiff competition from well-known companies such as The Walt Disney Company (DIS – Free report) and Dish Network (DINNER – Free report).
You can see Complete list of today’s Zacks #1 Position (Strong Buy) stocks here.
Shares of Fubo are down 82.9% year to date compared to Disney and Dish down 38.8% and 51.6% respectively. The Zacks Consumer Discretionary fell 34.4% over the same period.
Disney’s HULU has added 20 sports movies so far in 2022, including Hard ball for baseball fans, Skinheads for football fans, Ali and Creed II for boxing fans, Hoosiers and Hoop Dreams for basketball fans and much more. For the fiscal fourth quarter of 2022, Hulu’s live TV revenue per paying customer was $86.77, up 2.2% year over year.
Dish Network’s Sling TV features 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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