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.”
