Streaming-Pay TV Platform Fubo Slams Disney-Fox-WDB Sports Deal After Stock Drop

February 7, 2024 @ 7:37 PM

Streaming-pay TV platform Fubo condemned the Disney-Fox-Warner Bros. Discovery sports streaming service announced on Tuesday after stock in Fubo dropped by 23%.

“The underlying motives and implication of this joint venture also command our scrutiny. Every consumer in America should be concerned about the intent behind this joint venture and its impact on fair market competition,” the company said.

The company’s statement began, “The recent announcement regarding the collaboration between Fox, Disney and Warner Bros. Discovery to introduce a sports-only streaming service has undoubtedly captured our attention. Fubo has consistently championed the principle of consumer choice and we’re not surprised more sports streaming options are becoming available. We have already seen that a consortium born of historical competitors is a difficult undertaking, and streaming joint ventures rarely work. As well, we know sports-only programming is highly challenged.”

“Consumers have demonstrated that they want an aggregated sports, news and entertainment package differentiated by a quality product experience. This is what Fubo delivers. We have also continuously pushed the boundaries of live TV streaming with market-first features like 4K, multi viewing and AI products like our just-launched Instant Headlines.”

“The underlying motives and implication of this joint venture also command our scrutiny. Every consumer in America should be concerned about the intent behind this joint venture and its impact on fair market competition. This joint venture spotlights a concerning trend where an alliance with significant market share, reportedly controlling 60-85% of all sports content, could dictate market terms in a manner that may not serve the broader interests of consumers.”

“We believe our robust programming and quality product experience cannot be duplicated by what is likely to emerge from this joint venture,” the statement concluded.

The new sports streaming service will launch in the fall and will put ESPN, TNT, and Fox Sports on one standalone app. Subscribers will have access to the ABC network, ESPN, ESPN+, ESPN2, ESPNU, SECN, ACCN, ESPNEWS, FOX, FS1, FS2, BTN, TNT, TBS, and truTV, and content will include NFL, NBA, WNBA, MLB, NHL, NASCAR, College Sports, UFC, PGA TOUR Golf, Grand Slam Tennis, the FIFA World Cup, cycling, and more.

Additionally, subscribers will be able to bundle the service with their Disney+, Hulu, and Max subscriptions. The content offered on the service will not be limited to sports, but will instead include everything available on each channel.

Fubo launched in 2015 as “a sports-first cable TV replacement product” that gives subscribers access to over 300 live sports, news, and entertainment networks. The service reached 1.88 million paying subscribers in the third quarter of 2023, a jump from 1.56 million in the year’s second quarter.