Sports streaming platform Fubo TV — which is fighting to fend off a joint venture between rivals Disney, Warner Bros. and Fox Sports Streaming — reported that it ended the first quarter with 1.51 million paid subscribers in North America. Accompanied, which is less than 1.61 million in the end. Fourth quarter of 2023
The streamer, led by CEO David Gendler, said live games in the first quarter would have been lighter compared to offerings in the back half of the year, such as the college football and NFL seasons and the second half of the MLB season. are Parent Fubo unveiled its latest earnings on Friday, narrowing its first-quarter loss to shareholders to $56.1 million, from $83.6 million a year earlier, as revenue rose 24 percent. increased to 394 million dollars.
Loss per share was 19 cents, compared with a loss per share of 37 cents in the first quarter of 2023. Subscription revenue reached $373.7 million, compared to $300.8 million a year earlier, while advertising revenue was up $22.7 million from $27.4 million. million in the past year.
Fubo has partnered with The Walt Disney Co., Fox Corp. and Warner Bros. has filed a lawsuit against Discovery to potentially block a sports streaming joint venture that the media giants have blocked from getting off the ground.
“We believe in the merits of our case, and thank those who have publicly supported us, such as DirecTV and Dish. We continue our fight to level the playing field for the sports streaming industry. We remain steadfast because, as alleged in our court filing, we believe that a joint venture controlled by these parties (collaborating to introduce a sports streaming service only) may cause irreparable harm to Fubo and consumers deliver,” the company said in a letter to shareholders on Friday.
Rival sports streamer Fobo claims it has been forced to carry dozens of expensive, non-sports channels as a condition of licensing sports rights from companies in a scheme to stifle competition.
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