Despite tumult with Turner networks and the looming threat of a new sports-based streaming service Fubo TV reported strong earnings last quarter. The company said it made 382 million in revenue and now sits at 1.5 million subscribers. Both are major gains from the same period last year.
The cable replacement states its key metrics on a YoY basis given the seasonality of sports content. With such a focus on sports, reporting in that fashion is the way to keep the main thing the main thing.
Industry watchers will be paying close attention to the growth of Fubo this fall as it is expected to be the launch of Venu, a service whose owners Fubo is suing for anti-competitive practices.
Fubo has grown from a soccer-centric service to a full live TV service with a substantial on-demand service built-in. The sports offerings are highlighted with sport-by-sport breakdowns that far exceed other US-based streaming services.
Full Year 2024: Fubo is increasing previously announced guidance, now projecting 1,725,000 to 1,745,000 paid subscribers, representing 7% YoY growth at the midpoint, and $1.570 to $1.590 billion total revenue, representing 18% YoY growth at the midpoint.
