Key points:
- FuboTV enters multi-year partnership with Hemisphere Media Group
- The companys new partnership will maintain FuboTV'S targetting of varying demographics
- The market failed to react strongly to the news, with FUBO stock edging 0.4% higher
Over the last year or so, TV streaming platform FuboTV (NYSE: FUBO) has been rapidly expanding its digital streaming services; utilizing key media providers in differing emerging markets to maximize new subscribers and develop a firm global footprint. Today, the company announced that the Hemisphere Media Group – the leading television platform for U.S Hispanic and Latin American markets – has entered a multi-year agreement with FuboTV.
The partnership will allow subscribers of FuboTV’s Latino plan to access all five of Hemispheres cable networks – further diversifying the company’s product portfolio, and in turn, the demographic of subscribers – through targeted culturally relevant content.Â
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Hemispheres’ vast content offering includes top-rated news and entertainment programs from Puerto Rico; blockbuster hits and drama series’ from Mexico, Latin America, Spain, and the Caribbean. The new partnership will see the content go live in the U.S and Puerto Rico in Q1 of 2022.
Alan J. Sokol, President & CEO of Hemisphere Media Group, commented:
“As content providers, it is imperative to stay at the forefront of new technologies and platforms, growing and developing with them, and so we look to create partnerships that keep us at the vanguard of the industry, simultaneously improving our ability to serve our audiences and deliver on our mission. We are thrilled about this new partnership which further amplifies our offering and allows us to improve our reach in markets populated by the communities we serve.”
The partnership failed to spark much of a reaction in the market today, with FUBO stock trading at a slight gain of 0.47%.
