As a die-hard sports enthusiast with decades of following my favorite teams and leagues under my belt, I can’t help but feel a mix of anticipation and intrigue when it comes to FuboTV. Despite the slight dip in subscribers from Q1 to Q2 this year, their growth over the past few years has been nothing short of impressive.
At the end of the second quarter, FuboTV reported having 1,450,000 active subscribers, a decrease from the 1,510,000 subscribers in the first quarter but a significant increase of 24% compared to the 1,160,000 subscribers it had during the same period last year.
In their ongoing struggle against a potential streaming partnership between Disney, Warners, and Fox Sports, the streamer concluded the quarter with an overall revenue increase of 26%, totaling $382.7 million. Conversely, their net loss for the second quarter reduced to $25.8 million, as compared to a loss of $54.2 million during the same period last year.
The increased trimmed loss was mainly due to an uptick in subscription revenue from $289 million a year ago to $362.9 million during the most recent quarter, while advertising revenue also saw an improvement, climbing from $23 million during the same period of 2023 to $26.2 million.
Fubo is taking legal action against The Walt Disney Company, Fox Corporation, and WarnerMedia (now known as Warner Bros. Discovery), aiming to prevent the launch of their proposed sports streaming partnership.
More to come.
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2024-08-06 15:24