As a dedicated sports enthusiast with a knack for staying ahead of the streaming game, I must say that Fubo TV‘s Q3 performance has left me absolutely thrilled! With their impressive subscriber growth and revenue increase, it’s clear they are not just keeping up, but setting the pace.
Fubo TV reported a total of 1,1613 million North American subscribers by the end of the third quarter, marking an increase from 1.45 million in the previous quarter and a 9% growth compared to the same period last year, as per their financial report released on Friday.
As an ardent follower, I’m excited to share that despite facing tough competition from a potential streaming joint venture by Disney, Warner Bros. Discovery, and Fox Sports, my favorite streamer managed to end the quarter on a high note. Their overall revenue for the period reached an impressive $374.7 million, marking a significant 21% increase compared to the same quarter last year with revenues of $312 million.
In Q3, Fubo TV surpassed analyst expectations by earning $356.5 million in subscription revenue, an increase from $289.6 million in the same quarter of 2023. Concurrently, their advertising revenue decreased to $27 million, compared to $30.5 million in the corresponding period of the previous year.
In the realm of streaming services, I’ve noticed that Fubo TV managed to narrow down its quarterly loss to a more manageable $54.7 million, which translates to an adjusted 8 cents per share loss. Compared to last year’s third quarter, this is a significant improvement as they were previously facing a net loss of $84.4 million, or an adjusted EPS loss of 22 cents.
As a passionate gamer in August 2024, I found myself cheering when a federal judge put a temporary halt on a collaboration between giant media companies merging their sports broadcasting rights to launch a fresh streaming platform. This move was met with opposition from my fellow sports enthusiasts at Fubo, who stepped up to challenge this newcomer in the streaming scene.
During this morning’s analyst discussion, Fubo’s CEO, David Gandler, expressed his belief that the preliminary injunction will continue as planned, despite an upcoming appeal. He passionately stated, “Our battle against the joint venture is merely our initial move towards shaping a streaming marketplace that’s fair to all.
Fubo TV argues that the potential sports joint venture between Disney, Warner Bros. Discovery, and Fox Sports, if approved, could dominate the market and lead to higher subscription costs for television viewers. They have filed an antitrust lawsuit against the JV, which will be heard in court in October 2025.
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2024-11-01 15:54