Yahoo Finance Fubo TV (FUBO) Signs a Multi-Year Deal With Scripps Network
Fubo TV FUBO announced that it has entered a multi-year distribution agreement with Warner Bros. Discovery’s WBD mass media company, Scripps Network.
The partnership would give Fubo TV viewers access to Scripps Networks’s national business channel outlets like Court TV, which is devoted to in-depth legal reporting and Newsy, which is the nation’s only free 24/7 broadcast news network, and entertainment brands like ION, which features drama series like Murdoch Mysteries and Saving Hope, Grit that features classic western movies and series, Bounce, Laff and others.
This partnership would thus expand and diversify the offerings on Fubo TV, which currently just focuses on sports content. Per Market Screener, Scripps Networks currently engages 70 million viewers a month. This suggests that Fubo TV could also aid its viewership base with Scripps’ channels and strengthen its top line.
How is Fubo TV Expanding Further?
Fubo TV has lately been entering deals with many companies to expand its presence and content offering.
It collaborated with SMAC Productions to produce an eight-part documentary series on the evolution of the black quarterback in America that will help Fubo TV to gain traction from football fans.
It also expanded the distribution of Fubo Sports Network on Amazon Freevee, allowing sports fans on Amazon Freevee to watch live sports games, award-winning original shows, sports movies and more from the Fubo Sports network, which will make the channel available on more than 155 million devices.
In October, Altitude TV partnered with Fubo TV after ending ties with Dish TV and Comcast. This has made Altitude Sports available to FuboTV subscribers only. The deal has already bolstered the engagement of Altitude Sports, which recorded 6 million total visits in November, up by 93.5% from the previous month.
These business plans are expected to help Fubo TV boost its adoption rate and aid its top line. For fourth-quarter fiscal 2022, it estimates revenues of around $277.5-$282.5 million in North America, which suggests 22% year-over-year growth while for the rest of the world estimations are around $5-$6 million.
These deals also allow Fubo TV to take full advantage of the growing opportunity in the sports streaming industry as 28% of Americans are preferring to watch sports through a streaming service, per Cord Cutters News.
Zacks Rank & Stocks to Consider
Fubo TV currently has a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better stocks in the Zacks Consumer Discretionary Sector are Liberty Media FWONK and Hilton Grand Vacations HGV, each sporting a Zacks Rank #1 (Strong Buy).
Liberty Media’s share price decreased 7.7% year to date compared with the consumer discretionary sector, which declined 36.4%. The Zacks Consensus Estimate for earnings is pegged at 7 cents, which has been constant over the past 30 days.
Hilton Grand Vacations lost 24.1% of its share price year to date. The earnings estimate is pegged at 77 cents, which has been constant over the past month.
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Warner Bros. Discovery, Inc. (WBD) : Free Stock Analysis Report
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Liberty Media Corporation (FWONK) : Free Stock Analysis Report
fuboTV Inc. (FUBO) : Free Stock Analysis Report
