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NEW YORK - FuboTV Inc. (NYSE: NYSE:FUBO), a prominent sports-focused live TV streaming service with a market capitalization of $1.34 billion, has broadened its distribution by launching its Fubo Sports network on over-the-air (OTA) stations across more than 100 markets in the United States, including major cities such as New York, Los Angeles, and Chicago. InvestingPro data shows the company has achieved impressive revenue growth of 24.45% over the last twelve months, though it operates with relatively thin gross profit margins of 10.75%. This expansion makes the network accessible to over 12 million traditional TV households, in addition to its availability on Fubo and most free ad-supported streaming platforms.
The Fubo Sports network, known for its extensive sports programming, showcases a variety of sports content and live events, including leagues like Bare Knuckle Fighting Championship, ProBox TV, The Professional Fighters League, and World Poker Tour. The network has established itself as a key destination for combat sports fans, offering select live boxing and MMA events.
According to Pamela Duckworth, head of Fubo Studios, the expansion into OTA stations is a strategic move to increase consumer accessibility and create a new revenue stream for the company. She highlighted the importance of reaching audiences through both streaming and traditional platforms, acknowledging the substantial number of American households that still utilize OTA for sports, news, and entertainment. This expansion comes as the company’s stock has shown remarkable momentum, with InvestingPro reporting a substantial 213.49% price return over the past six months. For deeper insights into FUBO’s growth trajectory and comprehensive analysis, investors can access the detailed Pro Research Report, available exclusively on InvestingPro.
Fubo Sports, which was established in 2019 and is female-founded, streams over 600 live sporting events annually. It’s part of FuboTV Inc.’s broader mission to aggregate top-tier TV content, including premium sports, news, and entertainment, into a single app. The company operates Fubo in the U.S., Canada, and Spain, and also runs Molotov in France.
In the U.S., Fubo is known for aggregating more than 400 live sports, news, and entertainment networks, and it claims the distinction of being the only live TV streaming platform to offer every English-language Nielsen-rated sports channel, based on Nielsen Total (EPA:TTEF) Viewers for 2024. FuboTV Inc. has also been recognized for its technological innovations in the streaming space, being the first virtual MVPD to introduce features like 4K streaming, MultiView, and Instant Headlines, an AI-generated news feature.
This announcement is based on a press release statement from FuboTV Inc. The company’s forward-looking statements involve risks and uncertainties, including factors such as maintaining profitability, securing capital, seasonal revenue fluctuations, managing growth, and competition within the industry. More detailed risk factors are discussed in the company’s SEC filings. InvestingPro analysis indicates that while the stock currently trades at $3.95, it appears undervalued based on their proprietary Fair Value model. Investors seeking detailed financial analysis, including 14+ additional ProTips and comprehensive metrics, can access the full suite of tools and insights through InvestingPro’s advanced platform.
In other recent news, FuboTV Inc. and Cineverse Corp have expanded their partnership, introducing new ad-supported streaming channels to Fubo’s English-language channel plans. This development aligns with Cineverse’s mission to deliver engaging content to fans and efficient results for partners. In a separate development, FuboTV and Walt Disney (NYSE:DIS) Co. are reportedly nearing a merger of their online live TV operations, forming a new venture in which Disney will own 70% and FuboTV the remaining shares. This merger, excluding Hulu’s subscription video service, could potentially make the combined services the second-largest digital pay-TV provider.
In addition, FuboTV and NBCUniversal have launched 18 NBCU free ad-supported television (FAST) channels, enhancing Fubo’s existing lineup with a broad range of sports, entertainment, news, and Latino programming. This expansion is part of FuboTV’s ongoing strategy to provide a comprehensive streaming experience. Lastly, FuboTV has introduced new interactive Connected TV (CTV) ad formats aimed at enhancing audience engagement. These new formats, which include transactional and gamified options, are designed to connect with viewers and potentially increase purchase intent. These recent developments highlight FuboTV’s continuous efforts to enhance its services and offerings.
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