TORONTO - FuboTV Inc. (NYSE: NYSE:FUBO) and Amazon (NASDAQ: AMZN) have announced the expansion of Fubo Sports Network's availability to Prime Video Channels in Canada. This collaboration marks the network's first availability to Canadian viewers outside of Fubo's own streaming platform, offering Prime members access to a wide range of live sports events, including soccer and mixed martial arts.
The deal introduces over 1,000 live sports events annually to Prime Video subscribers, featuring prominent soccer matches such as the English Premier League. The network's content also includes programming from sports leagues like the Bare Knuckle Fighting Championship, The Professional Fighters League, and World Poker Tour.
Senior Vice President of Fubo, Ben Grad, expressed excitement about the partnership, emphasizing the goal to deliver premium sports content to Canadian fans. Magda Grace, head of Prime Video Canada, echoed this sentiment, highlighting the service's commitment to providing diverse live sports content.
Fubo has established itself as a significant player in the sports streaming market in Canada, offering a rich selection of local and international soccer content. The platform allows cord cutters to watch sports and entertainment channels at a lower cost than traditional cable subscriptions.
Prime Video serves as a comprehensive entertainment hub, offering a broad spectrum of movies, series, documentaries, and live sports. The service is available on numerous devices and is part of the broader Prime membership, which offers various benefits, including entertainment and savings.
The information in this article is based on a press release statement from FuboTV Inc. and Amazon. It is important to note that forward-looking statements in the press release involve risks and uncertainties, and actual results may differ materially from those projected.
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InvestingPro Insights
As Amazon (NASDAQ: AMZN) expands its sports content offerings in Canada through the collaboration with FuboTV, it's essential to consider the company's financial health and market performance. According to InvestingPro data, Amazon has a robust market capitalization of $1.86 trillion, reflecting its significant impact on the market. The company's P/E ratio is currently at 41.46, which, when paired with a PEG ratio of 0.18, suggests that Amazon is trading at a low price-to-earnings ratio relative to its near-term earnings growth. This could indicate a potentially attractive investment opportunity for those looking at growth-adjusted valuation metrics.
Amazon's revenue growth has been impressive, with a 12.32% increase over the last twelve months as of Q2 2024. This growth is a testament to the company's ability to innovate and expand into new markets, such as the recent venture with FuboTV in Canada. With a gross profit margin of 48.04%, Amazon demonstrates strong profitability potential, which is further supported by a substantial operating income of $54.38 billion over the same period.
An InvestingPro Tip worth noting is that analysts predict Amazon will be profitable this year, which aligns with the company's performance over the last twelve months. For investors interested in Amazon's potential, additional InvestingPro Tips are available, with 22 analysts having revised their earnings downwards for the upcoming period, suggesting a need for a cautious approach to near-term expectations. Moreover, Amazon operates with a moderate level of debt and has been able to sufficiently cover its interest payments, which is crucial for long-term financial stability.
For a deeper dive into Amazon's financials and to explore more expert analysis, there are 11 additional InvestingPro Tips available at InvestingPro Amazon. These tips provide valuable insights for investors looking to make informed decisions about their portfolio.
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