It is anticipated that FuboTV Inc. (NYSE: FUBO), which specializes in sports broadcasts, would earn substantial earnings by broadcasting matches of the American Football Confederation during the qualifiers for the 2022 World Cup. It is noteworthy that the coronavirus is still constantly adapting to sports events.
Brazil agreed to host the qualifiers after Argentina and Colombia refused to do so. COVID-19 is prevalent in the country, so the sponsors perceived this decision negatively. Due to this, major advertisers chose not to support the matches. Although Brazil intends to hold these matches without fan presence, they will take most precautions to ensure player safety.
Football fans will miss the chance to watch the matches live, which presents a unique opportunity for the streaming service FuboTV Inc. (NYSE: FUBO) to gain many new subscribers. Those who already subscribe to Fubo sports will be able to watch selected English-language games. However, the games will be available only on FuboTV and not through any of its regular off-platform network partners, such as ViacomCBS’s Pluto TV. FuboTV subscribers will be able to watch AFC games free, but new subscribers will have to subscribe to one of Fubo’s plans and then add the CONMEBOL & More package for an additional $ 7 per month. Despite losing the sponsor for the confederation games, FuboTV can earn money on the matches without fans’ presence.
Shares of fuboTV Inc. (NYSE: FUBO) were down -5.33% at $27.90 on Tuesday. FUBO’s stock closed at $29.47 in the previous session. As of Tuesday, the company’s shares traded between $27.53 and $29.25. The total number of shares exchanged was 7.61 million, which was a lower volume than its 50-day daily volume of 16.08 million and its year-to-date volume of 19.32 million. Its share price has gained 134.45% over the past twelve months, and over the past week, the stock has declined -7.25%. During the last six months, the stock gained 1.16%, and over the previous three months, it lost -12.70%. The stock has returned -0.36% so far this year.