Hemisphere Media Group Inc. (NASDAQ: HMTV) announced its multi-year carriage agreement with fuboTV Inc. (NYSE: FUBO). After the announcement, the stock of FuboTV went up in the pre-market trades.
Hemisphere Media Group is the only publicly traded pure-play U.S. media company. Its main target is the high-growth U.S. and Latin American markets with leading broadcasts. While FuboTV is the leading sports-first live TV streaming platform.
The partnership will make the five Hemisphere Cable networks- WAPA América*, Cinelatino, Pasiones, CentroAméricaTV, and Televisión Dominicana, available in HD to the subscribers of fuboTV’s Latino channel plan in the United States and Puerto Rico in the first quarter of 2022. These channels serve the U.S. Latino market and cater to specific segments within the community by targeting culturally relevant content.
“Virtual MVPD platforms continue to experience robust growth, and we applaud our partners at fuboTV for seeking to offer a comprehensive viewing experience to consumers, particularly Hispanic/Latino viewers, by providing them with the high-quality, differentiated content they seek. As content providers, it is imperative to stay at the forefront of new technologies and platforms, growing and developing with them. So we look to create partnerships that keep us at the vanguard of the industry, simultaneously improving our ability to serve our audiences and deliver on our mission. We are thrilled about this new partnership which further amplifies our offering and allows us to improve our reach in markets populated by the communities we serve.”
said Alan J. Sokol, President, and CEO of Hemisphere Media Group.
The partnership between Hemisphere and FuboTV will give Fubo’s subscribers access to the Hemisphere networks’ vast content offerings, including news and entertainment programming from Puerto Rico. The content has diverse blockbusters and critically acclaimed films from Mexico, Latin America, Spain, and the Caribbean.