FuboTV Stands Firm Against TelevisaUnivision’s Demands
The live TV streaming platform, FuboTV Inc. (NYSE:FUBO), is facing a setback as its shares plummet in premarket trading on Tuesday. This downturn follows Monday’s announcement that TelevisaUnivision has pulled its programming from FuboTV’s lineup, leaving thousands of Spanish-speaking customers without access to essential local news and weather updates.
A Dispute Over Fair Pricing
At the heart of the issue is TelevisaUnivision’s demand for a 25% price hike and its insistence on unfair bundling practices. FuboTV argues that these practices would force subscribers to pay for channels they don’t watch, ultimately burdening both customers and investors. The company has also criticized TelevisaUnivision’s requirement for a separate subscription to access all of its sports content on Vix+.
Commitment to the Hispanic Community
Despite the setback, FuboTV remains committed to providing premium content at competitive rates. The company has reiterated its dedication to the Hispanic community and is open to fair negotiations with TelevisaUnivision. FuboTV’s Latino plan continues to offer a robust selection of Spanish-language programming, featuring networks such as ESPN Deportes, FOX Deportes, Telemundo Acción, and beIN Sports Español, at what it claims is the lowest price among live TV streaming platforms.
Expansion into New Markets
In a separate development, FuboTV has launched Hallmark+, a standalone premium subscription or add-on for Fubo customers. This move builds on the company’s existing distribution agreement with Hallmark, which already includes Hallmark’s linear channels.
Investment Opportunities
Investors looking to gain exposure to FuboTV can do so through the ProShares Metaverse ETF (NYSE:VERS). As of Tuesday’s premarket trading, FUBO shares were down 1.46% at $1.35.
Recent Performance
FuboTV’s Q3 earnings report showed a 9% growth in subscribers to 1.61 million, with a narrowed EPS loss and a raised annual outlook. Despite the current dispute with TelevisaUnivision, the company remains focused on providing quality content at competitive prices.
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