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FuboTV, a digital TV service created as a cable replacement with a focus on sports, announced on Thursday that it's launching a public offering on the New York Stock Exchange.

Why it matters: Streaming companies like fuboTV have rarely gone public, and are usually developed or bought by a bigger media or tech company. But fuboTV, which focuses on live sports rights, might consider itself more of a tech company.

Details: The public offering includes 15 million shares of common stock. The price is currently expected to be between $9.00 and $11.00 per share, according to fuboTV.

  • The company intends to list its common stock on the New York Stock Exchange (NYSE) the day after pricing under the ticker symbol “FUBO.”
  • Evercore ISI is acting as the lead book-running manager for the proposed offering, according to the company. BMO Capital Markets Corp., Needham & Company and Oppenheimer & Co. are acting as additional joint bookrunners, while Roth Capital Partners and Wedbush Securities are acting as co-managers.

Between the lines: The company recently said that it expects revenues for the third quarter of this year to be between $50 million and $54 million — a roughly 30% growth year over year — and that it will have roughly 370,000 to 380,000 paid subscribers, which was more than initially forecast.

  • That growth is especially notable given the fact that many live sports were cancelled during the pandemic.
  • FuboTV has the largest sports package of any digital TV company, with more than 50,000 live sporting events each year.
  • Like many of its streaming rivals, the company recently raised the price of its family bundle from $60 to $65 a month after adding a number of Disney channels, including ESPN, ESPN 2, and ESPN 3.

The big picture: The pandemic has been a boon to streaming, so it makes sense that fuboTV has seen strong gains. The IPO market has also been white-hot.

Go deeper:

Go deeper

Kendall Baker, author of Sports
Nov 13, 2020 - Sports

Overtime: A new approach to sports for a new generation

Endless articles have examined how young sports fans consume content. But here's the real question we ought to be asking: What content do they consume?

Driving the news: Young sports fans don't follow sports the way their parents did. And that change in fandom gets more extreme with each generation.

Kendall Baker, author of Sports
Nov 13, 2020 - Sports

The emerging media landscape for sports bettors

Al Bernstein (left) and Brent Musburger unveil VSiN's first studio in 2017. Photo: Ethan Miller/Getty Images

As the U.S. sports betting market matures, a robust media landscape is forming alongside it, with companies aiming to educate and entertain bettors.

The state of play: One of the early entrants is Vegas Stats & Information Network (VSiN), which launched in January 2017. VSiN has three studios in Las Vegas (South Point, Mandalay Bay, Circa), one in Atlantic City (Borgata) and one outside Chicago (Rivers).

Kendall Baker, author of Sports
Nov 13, 2020 - Economy & Business

Niche sports reporting finds a home

Numerous journalists, from sports writers to tech reporters, have recently launched their own, independent publications, mostly via email newsletters.

Why it matters: The rise of independent journalism has breathed new life into niche content, with tools like Substack helping subject matter experts carve out their own corner of the internet.