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TORONTO - Sports streaming platforms DAZN and Fubo (NYSE:FUBO) announced Monday a multi-year partnership in Canada that will see each company carry the other’s sports content, expanding on their existing U.S. distribution agreement. The announcement comes as Fubo, currently valued at $1.24 billion, shows strong momentum with its stock up 188% year-to-date. According to InvestingPro analysis, the company appears slightly undervalued at its current trading price of $3.63.
Under the deal, DAZN will carry Fubo Sports Network while Fubo will offer DAZN’s premium live sports content across their respective platforms. Canadian customers will soon be able to purchase bundled subscriptions that combine both services. This strategic move aligns with Fubo’s growth trajectory, as the company generated $1.63 billion in revenue over the last twelve months, with a 6.65% year-over-year growth rate.
The partnership brings together DAZN’s exclusive rights to NFL Game Pass, UEFA Champions League, UEFA Europa League and boxing with Fubo’s exclusive coverage of Premier League, Serie A, Coppa Italia and Supercoppa Italiana matches.
DAZN Ringside, the company’s 24/7 boxing channel, will also be available across Fubo’s Canadian subscription plans at no additional cost.
"By combining content from two powerhouse platforms, we’re creating a more seamless viewing experience and offering one of the most comprehensive sports lineups available," said Deidra Dionne, VP of DAZN Canada, in a statement from the press release.
Ben Grad, Senior Vice President of Strategic Partnerships and Operations at Fubo, called the collaboration "a game changer for Canadian sports fans," noting that Fubo customers will gain access to additional soccer content including UEFA Champions League and Bundesliga.
Beyond soccer, the combined offering will include content from the NFL, NBA, MLB, NHL, and other global sports properties.
Fubo is available on various connected devices including smart TVs, mobile devices, and gaming consoles. The company currently offers over 100 live sports, news and entertainment networks in Canada.
In other recent news, fuboTV reported its second-quarter results, revealing an unexpected earnings per share (EPS) of $0.05, which surpassed the forecasted -$0.05. The company’s revenue for the quarter was $371.3 million, exceeding expectations of $353.72 million. Additionally, North American subscribers reached 1.356 million, surpassing BTIG’s estimate of 1.250 million, aided by events like the FIFA Club World Cup and reduced pricing for Latino packages. However, the company experienced a global subscriber loss of 119,000, which, while significant, was 10% better than anticipated. Needham maintained its Buy rating on fuboTV, citing the potential upside from a deal with Disney, and set a price target of $4.25. Meanwhile, BTIG reiterated its Neutral rating on the stock, noting the strong Q2 performance. Despite these positive developments, the market reacted cautiously, with mixed signals from the earnings call.
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