Fubo TV, a popular sports-focused streaming service, showcased impressive growth in its subscriber base during the fourth quarter of the year. According to their latest financial earnings report, the platform now boasts 1.67 million subscribers in North America, a notable increase from 1.613 million in the previous quarter and 1.45 million in the quarter before that.
Revenue-wise, Fubo TV closed the quarter with overall revenue reaching $433.8 million, marking an 8 percent increase from the previous year. Subscription revenue saw a significant rise to $406.8 million during the three-month period, whereas advertising revenue experienced a slight drop to $34.3 million.
Despite the revenue growth, Fubo TV managed to narrow its net loss from continuing operations to $38.5 million, a significant improvement from the $70 million loss reported in the same period last year. Additionally, the adjusted EPS loss decreased to 2 cents in the fourth quarter, down from 18 cents in the corresponding period in the previous year.
In recent news, Venu, a sports streaming service collaborated by The Walt Disney Co, Warner Bros. Discovery, and Fox Corp, was scrapped due to opposition from Fubo. However, Fubo TV executives are set to discuss a new collaboration unveiled in January, involving Disney merging its Hulu + Live TV service with Fubo. This move aims to create the second-largest streaming MVPD, managed by Fubo’s executive team while Disney retains majority ownership.
As part of this new deal, Fubo has agreed to dismiss its antitrust case against Venu, signaling a strategic shift in the company’s direction. The merger between Hulu + Live TV and Fubo is expected to bring about new opportunities and enhancements for subscribers of both services.
Overall, Fubo TV’s recent financial performance and strategic moves highlight the platform’s growth trajectory and position in the competitive streaming market. As the company continues to evolve and expand its offerings, subscribers can expect a more diversified and robust streaming experience in the coming months.