Fubo Garners Rights to South America World Cup Qualifiers

Sports-streaming platform Fubo acquired exclusive streaming rights to the 2022 World Cup qualifying matches for South America.
Author:
Publish date:

FuboTV  (FUBO) - Get Report shares rose on Friday after the sports-streaming platform acquired exclusive streaming rights to the 2022 World Cup qualifying matches for South America.

The agreement represents a partnership with the 10 South American teams’ rights holders. Terms weren't disclosed.

Fubo shares recently traded at $22.30, up 7.7%. The stock has doubled in the past six months amid investor enthusiasm for live sports video.

The top four teams competing within the South American Football Confederation, or Conmebol, qualify for the Cup in Qatar.

In addition to Conmebol, FuboTV will stream many qualifying matches through its carriage of other channel partners, the company said.

The South American deal gives Fubo rights for the remaining 70 matches. Match windows are currently scheduled to begin in June with several additional match windows through 2021 and into early 2022. 

Matches will feature both English and Spanish commentary.

In other Fubo news, last week it unveiled an agreement to stream Chicago Cubs games. The Cubs ended a century of futility by winning the World Series in 2016.

In March, Fubo posted a wider fourth-quarter loss on higher-than-expected revenue.

It reported a loss of $2.47 a share, widening from $1.07 a share in the year-earlier fourth quarter. The latest per-share figure was worse than the FactSet analyst forecast of an 85-cent loss.

Revenue registered $105.1 million in the quarter, swinging from negative revenue of $1.6 million in the year-earlier quarter. The analyst consensus called for revenue of $95.1 million in the latest quarter.