Fubotv Inc (NYSE: FUBO) has been running steadily northbound since the Company exceeded guidance for Q1, 2023, posting double digit year-over-year (YoY) growth in total revenue ($316.5 million, up 34% YoY) and paid subscribers (1.285 million, up 22% YoY). FUBO uplisted to the NASDAQ and skyrocketed to over $60 per share during the summer of 2020 but fell to lows of $0.96 in March of this before the recent reversal northbound. Now that FUBO has reversed and is running northbound the stock is at the top of many speculators’ watch lists. FUBO has an enormous base of investors and a very significant gap to fill from recent price levels. 

In the coming months, Fubo will be sharing details of its global product vision with AI as its centerpiece. The company’s proprietary tech stack has enabled it to continuously evolve live TV streaming: Fubo was the first virtual MVPD to launch 4K streaming (2018) and MultiView (2020) – both years ahead of its peers. With the 2021 acquisition of AI and computer vision company Edisn.ai, Fubo is aiming to build a completely new way for consumers to engage with and watch live TV. FUBO management are currently busy doing presentations including the 18th Annual Needham Technology & Media Conference which ends today. The Barrington Research Virtual Spring Investment Conference which is today as well as J.P. Morgan’s 51st Annual Global Technology, Media and Communications Conference on May 24, 2023 at 1:20 p.m. ET. We will be updating on FUBO when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

Fubotv Inc (NYSE: FUBO) is a sports-first, cable TV replacement product, offering subscribers access to tens of thousands of live sporting events annually, as well as leading news and entertainment content, both live and on demand. Fubotv allows customers to access content through streaming devices and on SmartTVs, mobile phones, tablets, and computers. The Company’s mission is to build the world’s leading global live TV streaming platform with the greatest breadth of premium content and interactivity. Fubotv’s leading sports offering includes more than 50,000 live sporting events annually, with many streaming in 4K, from RSNs, local broadcast networks and national sports networks ESPN, FS1, CBS Sports Network, the Pac-12 Networks and many more. In addition to sports, FuboTV also streams popular live entertainment and news programming and features more than 40,000 TV shows and movies on-demand each month. 

In the U.S., Fubotv is a sports-first cable TV replacement product that aggregates more than 175 live sports, news and entertainment networks and is the only live TV streaming platform with every Nielsen-rated sports channel (source: Nielsen Total Viewers, 2022). Leveraging Fubotv’s proprietary data and technology platform optimized for live TV and sports viewership, subscribers can engage with the content they are watching through interactive product features like FanView, an in-video experience showcasing live game, team and player stats and scores in real time. Fubotv was also the first virtual MVPD to enable simultaneous viewing of up to four live channels (Multiview on Apple TV) as well the first to stream in 4K HDR. FuboTV is ranked #1 in Customer Satisfaction among Live TV Streaming Providers by J.D. Power (2022), Fubotv has been called “a force in sports streaming” by Forbes, “the best streaming service for sports aficionados” by Tom’s Guide and was heralded by CNET for its “ease of use.” 

Fubotv completed the acquisition of Edisn Inc. an AI-powered computer vision platform with patent-pending video recognition technologies based in Bangalore, India, in December 2021. With Edisn, Fubotv has expanded, and continue to expand, its data science and engineering organization globally, while strengthening its technology capabilities and accelerating innovation. 

Cable may be dying, but not neccessarily RSNs

Fubo’s Move to Add Diamond Sports RSNs Is Actually Paying Off https://t.co/K38OqA9OOD via @Sportico
$FUBO | #SportsBiz

— Brendan Coffey (@bpcoffey) May 17, 2023

To Find out the inside Scoop on FUBO Subscribe to newsytrends.com Right Now by entering your Email in the box below

In December of last year FUBOTV formed a carriage agreement with Sinclair Broadcast Group, Inc. (Sinclair) that brought Bally Sports’ 19 regional sports networks (RSNs) to Fubotv. The Bally Sports RSNs are owned and operated by Diamond Sports Group, a subsidiary of Sinclair. This agreement expands the existing partnership, which already includes the carriage of Sinclair’s owned local broadcast stations, Tennis Channel and Marquee Sports Network (television home of the Chicago Cubs), on FuboTV. FuboTV now provides subscribers with access to their respective local Bally Sports RSN(s), including: Bally Sports Arizona, Bally Sports Detroit, Bally Sports Florida, Bally Sports Great Lakes, Bally Sports Indiana, Bally Sports Kansas City, Bally Sports Midwest, Bally Sports New Orleans, Bally Sports North, Bally Sports Ohio, Bally Sports Oklahoma, Bally Sports San Diego, Bally Sports SoCal, Bally Sports South, Bally Sports Southeast, Bally Sports Southwest, Bally Sports Sun, Bally Sports West and Bally Sports Wisconsin. 

Earlier in May FuboTV announced its financial results for the first quarter ended March 31, 2023. FuboTV’s North American streaming business exceeded guidance, posting double digit year-over-year (YoY) growth in total revenue ($316.5 million, up 34% YoY) and paid subscribers (1.285 million, up 22% YoY). The company is also raising full year subscriber guidance to 1.550 million-1.570 million subscribers (representing 8% YoY growth at the midpoint) and total revenue guidance to $1.235 billion-$1.265 billion (representing 27% YoY growth at the midpoint) in North America. 

The company delivered ad revenue of $22.5 million in the quarter, remaining flat YoY against continued pressure on the advertising market. FuboTV expects a reacceleration of growth in the second quarter. FuboTV’s Rest of World (ROW) streaming business also posted double digit growth in total revenue ($7.8 million, up 41% YoY) and paid subscribers (379,000, up 24% YoY) during the first quarter. ROW includes the results of Molotov, the French live TV streaming service acquired by FuboTV in December 2021. Fubo ended the quarter with $364.8 million in cash, cash equivalents and restricted cash. 

Strong pole formation on $FUBO sine earnings. Building a nice wedge along MA 10. pic.twitter.com/jRLbWglMh1

— Ernesto Texidor (@_ErnestoTexidor) May 17, 2023

We have something big Coming!

FuboTV CEO David Gandler stated: “We are pleased with Fubo’s execution to start 2023 – beating expectations across our KPIs – and our increased North America guidance for the year reflects our confidence in our continued leadership in streaming. In addition, we remain confident in our path to generate positive cash flow in 2025. While the macro uncertainty continues, the second quarter has started well, with customer engagement ongoing and advertising accelerating sequentially. We look forward to keeping shareholders updated on our progress in the quarters to come.”   We will be updating on FUBO when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

Disclosure: we hold no position in FUBO either long or short and we have not been compensated for this article.