Market News

fuboTV & dentsu Leverage M1 Data Platform

Sports-first live TV streaming platform fuboTV Inc. (FUBO) revealed that it has been fully integrated with M1 people-based identity and data platform of dentsu international. Shares of the company closed 10.87% higher on Monday.

The complete integration allows advertisers to leverage M1’s highly accurate connected individual, device and panel data across fuboTV’s sought-after Connected TV (CTV) inventory. This includes 50,000 live sports events every year and over 100 premium sports, news and entertainment channels for the people.

Through M1, advertisers’ proprietary custom CRM data can be paired with fuboTV’s exclusive first-party addressable data, which, in turn, could improve the relevance and performance of advertising campaigns. Additionally, fuboTV’s intricate audience of sports fans can be tapped, which is not possible through traditional television. (See fuboTV stock charts on TipRanks)

According to eMarketer, following the transition of sports viewers and advertising dollars from linear TV to CTV, the number of U.S. digital live sports viewers is likely to reach 57.5 million in 2021 and exceed 90 million in 2025.

With the beginning of the 2021 football season and ahead of marquee sporting events, the fuboTV/dentsu partnership seems to be a strategic fit. The streaming of these upcoming live sports is expected mainly on a large-screen format as CTV represented 94% of total viewing hours on the platform during the second quarter of 2021, fuboTV said.

Sharing her thoughts, SVP of Advertising Sales at fuboTV, Diana Horowitz, said, “We are thrilled to partner with dentsu and Merkle to bring their industry-leading identity capabilities to fuboTV…Marrying fuboTV’s robust first-party addressable data with M1’s extensive people-first platform creates a customizable and precise alternative to reach target audiences without relying on cookies.”

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Wall Street’s Take

On October 25, Roth Capital analyst Darren Aftahi maintained a Buy rating on the stock with a price target of $45 (38.6% upside potential).

Aftahi projects fuboTV to record 134% year-over-year growth in revenues and around 815,000 subscribers by the end of the third quarter.

The analyst said, “The timing of sub adds (likely skewing in the 2H21 from football) could suppress sub ARPU, while ad ARPU should continue to improve q/q. While streaming multiples have compressed in 2H21, we believe FUBO remains a name with FY22 growth catalysts from a potential sub lift via sportsbook synergies (upon approval and launch), which are yet to be factored into estimates.”

Shares of fuboTV have exploded almost 140% over the past year. Overall, the stock has a Strong Buy consensus rating based on 7 Buys versus 2 Holds. The average fuboTV price target of $44.63 implies 37.75% upside potential to current levels.

Website Traffic

TipRanks’ Website Traffic Tool, which uses data from SEMrush Holdings (SEMR), the world’s biggest website usage monitoring service, offers insight into fuboTV’s performance. According to the tool, the fuboTV website recorded a 35.97% monthly increase, year-over-year, in global visits in September. Also, the third quarter depicted quarter-to-date growth in 2021 of 33.92%, more than quarter-to-date growth a year prior.

Notably, year-to-date website growth, compared to year-to-date website growth in the previous year, stood at 46.83%.

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