Streaming Online Sports Set to Grow into $93B Market.. Stocks that Benefit (FUBO, BTDG, EDR, DKNG, MSG, DIS, ROKU)

The live sports streaming market is one of the most dynamic growth investment opportunities on the map looking at the next 5-10 years.

According to a recent report from Verified Market Research, the Sports Online Live Video Streaming Market is expected to grow at a CAGR of nearly 25% from 2022 to 2030, reaching a total size of over $93 billion.

That’s more rapid growth than we plan to see from environmental tech, cannabis, or cloud computing over the same period.

With that in mind, we take a closer look below at some of the interesting opportunities in the live sports streaming marketplace.

 

fuboTV Inc. (NYSE:FUBO) operates as a sports-first, live TV streaming company. The firm focuses on offering subscribers access to tens of thousands of live sporting events annually as well as news and entertainment content.

Its platform, fuboTV, allows customers to access content through streaming devices and on Smart TVs, mobile phones, tablets, and computers.

fuboTV Inc. (NYSE:FUBO) recently announced, in partnership with SMAC Productions, a division of SMAC Entertainment, creator of premium scripted and non-scripted content, plans to co-produce an eight-part documentary series on the evolution of the Black quarterback in America.

Through a series of conversations with former and current players and coaches, cultural figures, celebrities and journalists, all led by Michael Vick – a quarterback who changed the way the position was played – the series will examine how on-field commanders changed the game and led off-field movements. It is expected to be an entertaining, insightful and immersive journey through the past, present and future of the world’s most lucrative sport, as told through the experience of Black quarterbacks.

“I’m excited to be a part of this project because as a kid, I just wanted to have a shot at playing in the National Football League. Never in my wildest dreams did I think I would be the first African American quarterback drafted #1. I know that was a big step for us in society,” said Michael Vick. “I was always told that I revolutionized the quarterback position, but I also like to give credit to the ones who I idolized as a kid and who paved the way like Randall Cunningham, Steve McNair and Donovan McNabb. When you look at the evolution of the Black quarterback, it’s because of the people that came before us. And now, I’m thankful for the dual threat concept that has changed the game for the better.”

The stock has suffered a bit of late, with shares of FUBO taking a hit in recent action, down about -3% over the past week.

fuboTV Inc. (NYSE:FUBO) managed to rope in revenues totaling $224.8M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of 43.5%, as compared to year-ago data in comparable terms. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($302.1M against $355.5M, respectively).

 

B2Digital, Inc. (OTC US:BTDG) is a sub-penny name on the OTC, but it deserves to be mentioned here because, according to an 8K out this morning, the company has just signed a deal with FUBO to launch its own 24/7 streaming sports channel in the combat sports space.

The company has very well established operations, rapidly growing revenues, and a very cheap price tag on shares. The company runs the acclaimed B2 Fighting Series, which has seen growing popularity and geographic exposure as a top-tier player in the MMA events space.

B2Digital, Inc. (OTC US:BTDG) recently announced the upcoming launch of the B2 Sports Network (“B2SN”), a 24/7 linear cable TV style streaming channel that will carry Combat Sports content produced by B2Digital.

“We have already communicated with multiple over-the-top streaming platforms, and we believe we are in a prime position to launch B2SN with wide distribution coverage because we have a built-in capability to film, produce, and stream our own combat sports content,” stated Greg P. Bell, Chairman and CEO of B2 Digital.

Now, with this morning’s 8K, we can see plainly that BTDG management was serious.

According to the 8K, “On October 26, 2022, B2Digital, Incorporated, a Delaware corporation (the “Company”), entered into a multi-year Content Distribution Agreement (the “Agreement”) with fuboTV Media Inc. (“fuboTV”), pursuant to which the Company granted to fuboTV a non-exclusive right and license to transmit and or distribute the B2 Sports Network (“B2SN”). Also the Agreement allows fuboTV the right to broadcast B2FS LIVE fights on the fuboTV Sports Channel worldwide. All B2SN programs and other content that the Company makes will be available to fuboTV for distribution on a video-on-demand (“VOD”) basis through fuboTV’s streaming service and branded network in the U.S. with the possibility to be available worldwide.”

That puts B2Digital, Inc. (OTC US:BTDG) squarely in the game in the live streaming sports marketplace. Its B2SN network is slated to be a 24/7 Linear Cable TV Style channel carrying B2 Fighting Series combat sports content, which will include past fights as well as live coverage of future B2FS events. The Company plans to launch B2SN in Q1 2023 on operating OTT networks. It now appears as though it will kick off on one of the top streaming platforms.

 

Endeavor Group Holdings Inc. (NYSE:EDR) operates as an intellectual property, content, events, and experiences company. The firm operates through the Owned Sports Properties, Events, Experiences & Rights, and Representation segments.

The Owned Sports Properties segment consists of a unique portfolio of scarce sports properties, including UFC, PBR and Euroleague, that generate significant growth through innovative rights deals and exclusive live events. The Events, Experiences & Rights segment owns and operates many events, including the Miami Open, HSBC Champions, Frieze Art Fair, New York Fashion Week, and Hyde Park Winter Wonderland. The Representation segment provides services to talent and corporate clients and includes the content division, Endeavor Content.

Endeavor Group Holdings Inc. (NYSE:EDR) recently released its financial results for the quarterly period ended September 30, 2022, with highlights including $1.221 billion in Q3 2022 revenue, given continued strength across the business and good line of sight through the end of the year, increased Adjusted EBITDA guidance for full year 2022 (new range between $1.145 billion to $1.175 billion; up $10 million from the midpoint of prior range, representing year-over-year Adjusted EBITDA growth of 32%), continued focus on achieving long-term leverage target, having repaid $250 million of debt in the third quarter with the intent to repay an additional $250 million of debt by year’s end, and adjusted EBITDA: $303.1 million; Adjusted EBITDA margin of 24.8%.

“Our business performed well in the quarter despite a turbulent macroeconomic environment,” remarked Ariel Emanuel, CEO, Endeavor. “Given our unique positioning relative to a set of highly resilient secular industry trends across premium sports and entertainment content and live events, we remain confident in our ability to continue delivering on our long-term growth strategy while also being good stewards of capital.”

The context for this announcement is a bit of a bid, with shares acting well over the past five days, up about 2% in that timeframe.

Endeavor Group Holdings Inc. (NYSE:EDR) managed to rope in revenues totaling $1.2B in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of -12.2%, as compared to year-ago data in comparable terms. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($1.3B against $2.3B, respectively).

 

Other names involved in the streaming online sports space include DraftKings Inc. (Nasdaq:DKNG), Madison Square Garden Sports Corp (NYSE:MSGS), Walt Disney Co. (NYSE:DIS), and Roku Inc. (Nasdaq:ROKU).

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