NEW YORK—Sports streamer Fubo said it lost subscribers but improved profitability in its latest quarter.

Reporting financial results for the first quarter ending March 31, FuboTV said its global streaming business “exceeded subscriber guidance and once again improved its profitability metrics.”

Revenue in North America for the quarter was $407.9 million, up 3.5% year-over-year (YoY), and 1.47 million paid subscribers, down 2.7% YoY. “These results met and exceeded Fubo’s applicable guidance range, respectively,” the company said.

In the Rest of World (ROW), Fubo delivered $8.4 million in total revenue, down 0.4% and 354,000 paid subscribers, down 10.9% YoY. These results met and exceeded Fubo’s applicable guidance range, respectively. ROW includes the results of Molotov, the French live TV streaming service acquired by Fubo in December 2021.

The company reported record revenue and subscriber growth for 2024. During the most recent quarter, Disney announced that it was taking a majority stake in Fubo, with plans to merge it with Hulu + Live TV. As part of the deal, Disney, Fox and Warner Bros. Discovery paid FuboTV $220 million to end antitrust litigation. In addition, Disney has committed to provide a $145 million term loan to Fubo in 2026 as part of the transaction.

“We are pleased with our performance in the first quarter and remain focused on our goal of achieving profitability in 2025 for our global streaming business,” said Edgar Bronfman Jr., executive chairman, Fubo. “We also remain excited about our agreement with The Walt Disney Company to combine Fubo with Hulu + Live TV, and its potential to increase competition in the pay-TV space. We continue to work through the regulatory process, and look forward to sharing more information when we are able.”

Roku reported 20% growth in Q3, bringing in $912 million in revenue, topping expectations of $847 million. The streaming company also added 2.3 million subscribers for a total of  75.8 million active accounts globally, up 16% year-over-year, driven by an increase in smart TV sales, the company said. 

“We drove strong engagement with streaming hours surpassing 100 billion for the first time on a trailing 12-month basis, and the Roku Channel remains a top 10 streaming app with engagement comparable to Paramount Plus, Peacock and Max according to Nielsen,” said CEO Anthony Wood.

During the quarter, Roku introduced video ads in the Spotify app on Roku devices and also launched the first NFL League-branded Zone in the Roku sports experience. In September the company announced layoffs and reduction in office facilities and the removal of select content.

The company reported player unit sales remained above pre-COVID levels and that the average Roku player selling price was up 2% year-over-year. Roku users streamed 26.7 billion hours in the quarter, an increase of 22%.

Although the company reported a net loss of $330 million from its newly launched smart TV division, Q3 devices revenue increased 33% year-over-year. Looking to Q4, the company said it anticipates total net revenue of $955 million, up 10% year-over-year. However it also warned of rough seas ahead. 

“We remain cautious amid an uncertain macro environment and an uneven ad market recovery,” Wood said. “Ad verticals like CPG and health and wellness continue to improve, while verticals like financial services and M&E remain challenged.

“Additionally, we will face difficult year-over-year growth rate comparisons in content distribution and M&E, which will challenge the year-over-year growth rate of platform revenue in Q4," Wood added. "Within Devices segment, we expect device margins to be down sequentially, in line with historical seasonal trends but up year-over-year.” 

BURLINGTON, Mass.—Avid announced total revenues inched up 1.3% for Q3 2022, led by strong subscription growth but offset by continuing supply chain challenges that have prevented the company from shipping “a significant amount” of orders received for integrated solutions during the first nine months of 2022. 

Profit for Q3 totaled $12 million and net income was 27 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were 38 cents per share, beating Wall St.’s expectations of 32 cents per share.

Subscription revenues increased 49.2% year over year to $41.8 million and subscription and maintenance revenue grew 17.6% year over year to $69.1 million. Total revenue increased 1.3% year-over-year to $103.0 million in Q3. Paid Cloud-enabled software subscriptions increased by an all-time record of 32,600 during the quarter to approximately 482,900 as of Sept. 30, 2022, an increase of 24.1% year-over-year.

“We are pleased by the strong growth from our subscription software business, particularly enterprise subscription and reacceleration of our creative tools, most notably Pro Tools,” said Avid CEO/President Jeff Rosica. “Demand for our integrated solutions products remains strong, and while we continue to see some lingering constraints in the supply chain, we were able to resume production of certain audio hardware products late in the third quarter and we believe the remaining constraints are temporary. For the fourth quarter and full year, we believe we are well positioned to deliver earnings growth despite revenue headwinds from the impacts of foreign exchange and slower-than expected recovery from the current global supply chain situation.”

WASHINGTON—Dec. 17 will be the last time that TV broadcasters will be required to file quarterly Children’s Television Programming Reports as the FCC plans to transition to annual reports as part of its efforts to modernize KidVid rules.

The FCC launched a Report & Order this past summer that is designed to update children television (KidVid) rules so broadcasters can have greater flexibility. One of these changes was to only require broadcasters to submit an annual programming report within 30 days of the end of the calendar year. This change is still pending Office of Management & Budget approval, but the FCC expects it to be approved by Jan. 1, 2020.

The public notice issued by the FCC’s Media Bureau recently informs that broadcasters will no longer be able to file new or amend previously filed quarterly Children’ Reports after Dec. 17 of this year. Also, as they await OMB’s decision, the commission is waiving the requirement that quarterly reports be filed by Jan. 10, 2020.

In the event that a broadcaster must amend or failed to submit a quarterly Children’s Report after Dec. 17, it will need to provide the necessary information in the form of an explanatory document and be uploaded to a station’s online public inspection file, placed in the Children’s Report section under the folder entitled Additional Documents.

With the upcoming license renewal cycle for television stations upcoming in June 2020, the public notice also advises licensees to include an exhibit as part of their license renewal application noting if any such explanatory document has been uploaded.

The complete public notice is available on the FCC’s ECFS database.