Fubo TV ended the third quarter with 1.1613 million North American subscribers, up from 1.45 million in the second quarter and up 9 percent from 1.47 million in the year-earlier period, according to its latest financial report on Friday. It is shown in the income statement.
The first sports streamer, which rivals Disney, Warner Bros. As Discovery and Fox battle to hold on to a sports streaming joint venture, net revenue at the end of the quarter was $374.7 million, up 21 percent from $312 million a year earlier.
That beat analyst estimates of $376.8 million in Q3 revenue. For the three months to September 30, Fubo TV grew subscription revenue to $356.5 million, compared with $289.6 million in the same period in 2023. Million
Fubo TV reduced its net loss from continuing operations to $54.7 million, or an adjusted loss of 8 cents per share, compared to a net loss from continuing operations of $84.4 million, or an adjusted EPS loss of 22 cents in the third quarter of 2023. gave .
In August 2024, a federal judge temporarily blocked a joint venture to combine the media giants’ sports license rights to form a new streaming service, which was challenged by rival sports streamer Fubo.
During a morning analyst call, Fobo CEO David Gendler said he expects the preliminary injunction to stand despite an appeal in the works. “Our fight against JV is just our first step to help create a fairer streaming marketplace,” he argued.
Fubo TV has insisted that the proposed sports joint venture between Disney, WBD and Fox Sports, if allowed to launch, would crush competition in the market and increase subscription prices for TV viewers. . The hearing of the company’s anti-trust case against the JV is expected in October 2025.
Credit : www.hollywoodreporter.com
