Fubo Delivers 1.511M Paid Subscribers and $394M Total Revenue to Exceed Q1 2024 Guidance in North America

DENVER, Colo., May 03, 2024 (247marketnews.com)- FuboTV Inc. (NYSE:FUBO) reported its first quarter 2024 financial results.

Fubo delivered 1.511 million paid subscribers, up 18% year-over-year, and $394 million in total revenue, a 24% YoY increase exceeding North American expectations.

“Fubo’s first quarter 2024 performance builds upon the strong momentum achieved in the prior year, with double digit paid subscribers, total revenue and ad revenue growth in North America,” commented Fubo co-founder and CEO, David Gandler. “Our results further underscore continued solid execution on our long-term strategy. We continue to operate efficiently and effectively as we execute on our mission to delight consumers with an aggregated sports entertainment offering delivered through a personalized and intuitive streaming experience.

“We continue to believe in the merits of our antitrust lawsuit against the sports streaming JV partners and thank those who have publicly supported us. We are encouraged by reports of the Department of Justice’s investigation and look forward to our preliminary injunction hearing in August. Fubo believes if all distributors were offered fair terms, the consumer could have multiple and robust sports streaming options to choose from, access to just the channels they want, and at a price that’s right for them.”

Its Rest of World growth included delivering 397,000 paid subscribers, up 5% YoY, and $8.4 million total revenue, up 7% YoY, for the quarter.

“As we look ahead, the Fubo team remains focused on the core business as well as making progress against our strategic priorities,” stated Edgar Bronfman Jr., Fubo’s executive chairman. “We are balancing our profitability targets and growth while advancing in our technology capabilities, features and content. Over the past seven quarters, Fubo has consistently met or exceeded guidance and expanded ARPU in a challenging macro environment, all the while delivering a world-class viewing experience for consumers. We remain confident in our ability to build on this success while aggressively working to establish a more fair and equitable playing field for Fubo, other media industry participants and above all, consumers.”

The Company stated that it continues to believe that the merits of its antitrust lawsuit filed against The Walt Disney Company, FOX Corp. and Warner Bros. Discovery regarding the planned launch of a sports streaming joint venture (JV).

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