By Christiana Sciaudone
Investing.com — FuboTV’s up 25% as live sports partnership deals may be on the table.
Shares are up more than 430% to a 2020 record as cord-cutters turn to new alternatives to for their viewing pleasure.
“Everything is always on the table,” Chief Executive Officer David Gandler told Axios, as the company “should be looking at” forming exclusive partnership deals for live sports offerings.
FuboTV, founded in 2015, is mainly focused on providing live sports including NFL, MLB and NBA games. It streams 90% of nationwide football games; 100% of the NHL and 88% of MLB. FuboTV also has more regional sports networks in its base package than any other live TV streaming platform.
Third quarter numbers reported last month exceeded the company’s own expectations. Paid subscribers rose 58% in the third quarter from a year earlier to 455,000. Revenue per user also increased in that time by 14% to $67.70.
“We believe fuboTV sits firmly at the intersection of three megatrends: the secular decline of traditional TV viewership, the shift of TV ad dollars to connected TVs and online sports wagering, a market which we intend to enter,” said Edgar Bronfman Jr., executive chairman of the company, in a statement. “As a result, we believe our growth opportunities are numerous. Our optimism in the future of fuboTV and the live TV streaming business has never been stronger.”
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