Fubo Stock Closed With an Over 4% Rise Yesterday

The entertainment sector is producing more content than ever and streaming services are leading this supply surge. Moreover, platforms are experimenting with their subscription models to strike a balance between revenue and affordability. Recently, FuboTV (NYSE: FUBO) raised its subscription price by 5 USD. The FUBO stock price saw a small decline after the announcement but reclaimed the pace and returned to an uptrend quickly.

Streaming services are experimenting with subscription prices

FuboTV, which the consumers voted as the most satisfactory platform according to J.D. Power, is on a mission to become a leading TV streaming service worldwide. The company is up against industry giants including Netflix (NASDAQ: NFLX), Amazon (NASDAQ: AMZN), Paramount Global (NASDAQ: PARA) among others.

Disney remains the most cost-effective streaming platform with a basic monthly subscription of $9.99, Paramount+ offers an ad-supported plan for the same fee. Meanwhile Netflix offers a standard package for $15.49, 50 cents more than its rival, Amazon Prime Video. 

Recently, Netflix and Disney+ have launched new subscription plans, while at the same time, empowering creators. While Netflix came up with an ad-support strategy, Disney+ introduced a similar but more efficient plan. Disney+ allows its service to be shared on four devices unlike its rivals which allow streaming on a single device only. Additionally, while Netflix offers content at 720p resolution, Disney+ offers full HD, HDR 10, Dolby Vision and more! Netflix is also dealing with issues being reported by existing customers, many of whom reported that 5% to 10% of titles were missing from their library.

According to research, the streaming industry generated $375 billion in 2021 and this figure is expected to reach $1.7 Trillion by 2030. Rising demand for live streaming and tech advancements like 5G, Virtual Reality (VR) are some of the key market drivers for this industry. Meanwhile, issues regarding piracy and protection may become a barrier to the sector. Latest data shows that there are over 9 million subscribers of these streaming services using pirated subscriptions. Blockchain may prove revolutionary in countering this challenge.

FUBO stock price analysis

The share value has declined by over 85% since their January 2022 high of $16.65. A downtrend is apparent till March 2022 followed by a petite surge during the month. Price denied the regression channel where the value was supposed to go down in July 2022.

The uptrend led the share to skyrocket by over 80% during mid-August, reaching $8.14 and closing at $6.35 on the day. The rise came around the time Lynette Kaylov stepped up as the senior VP of the company. Anchored VWAP shows the stock trading below their support. Meanwhile, the regression trend shows that the value entered the sellers zone yesterday, though more buying may come before a potential fall.

Fib retracement seconds that, considering the price has stepped into the 0.5 levels where a resistance of $2.7 may be at hand before a potential retracement. Currently, FUBO stock holds support close to $1.6 but the technicals indicate a rise in the upcoming days.

Disclaimer

Views in the articles should not be taken as investment advice. Readers need to assess the market scenario on their own accords before making any investment.

Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.