Fubo TV reported an increase in its subscriber base during the fourth quarter, reaching a total of 1.67 million users compared to 1.613 million in the third quarter and 1.45 million in the second quarter. The sports-centric streaming service disclosed this information in their recent financial report on Friday.
As a devoted fan, I’m thrilled to share that Fubo wrapped up the quarter with an overall income of approximately $433.8 million – a 8% increase from last year’s $410 million! During the September-ending quarter, our beloved Fubo TV service experienced a significant boost in subscription revenue, reaching $406.8 million compared to $370 million in the same period last year. This growth was somewhat tempered by a dip in advertising revenue, which fell to $34.3 million this year from $39 million in 2023.
In the fourth quarter, Fubo TV reduced its ongoing operational loss from $70 million to $38.5 million compared to the previous year, and their adjusted earnings per share (EPS) loss of 2 cents this quarter was a significant improvement from the 18 cents loss in the same period last year.
Previously, a sports-centric streaming platform idea put forth by Disney, Warner Bros., Discovery, and Fox Corporation faced cancellation due to resistance from Fubo.
On a forthcoming analyst call in the morning, Fubo TV’s executives are anticipated to delve into details about a deal announced in January, which involves Disney integrating its Hulu + Live TV service with Fubo. This amalgamated enterprise would rank second among streaming Multi-channel Video Programming Distributors (MVPD), trailing only YouTube TV. Notably, the management of this joint venture will be spearheaded by Fubo’s executive team, although Disney is set to retain majority ownership.
In connection with the deal, Fubo agreed to end its antitrust case against Venu.
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2025-02-28 16:24