Fubo TV is bringing in more subscribers and revenue but still losing loads of money. Ahead of its proposed Hulu + Live TV merger, the broadcast streaming service increased its subscriber count by about four percent in Q4 2024 and its quarterly revenue by eight percent from a year earlier. And hey, it only lost about $41 million in the quarter, so things aren't too shabby!
The streaming service ended Q4 with 1.676 million paid subscribers. That's up from 1.61 million in Q3 and 1.45 million in Q2, so the company is doing something right in attracting new customers. Its total revenue has also grown: nearly $1.59 billion for the year (up 19 percent from 2023) and $433.8 million for the quarter (up eight percent from Q4 2023). Not too shabby!
But Fubo is losing boatloads of money — just less than before. It posted a net loss of nearly $178 million for the year, more than enough to ruin most individuals and small- or medium-sized businesses. But since this is corporate America, things are looking up there, champ! That's because Fubo improved its losses by over $115 million from a year earlier.
The company is headed for some big changes. Pending shareholder and regulatory approval, Disney will buy a 70 percent stake in the company and merge it with Hulu + Live TV. The deal would create a new entity to manage the two brands, although the plan is for them to continue as separate services (at least at first).
Fubo is arguably the best live TV service for sports, but it still has some notable missing pieces. For starters, you won't find any Warner Bros. Discovery content. That means subscribers will miss out on a bunch of NBA games (before TNT's deal with the league expires at the end of the season) and MLB games on TBS.
It also recently increased its prices, with the cheapest plan coming in at $85, slightly more than YouTube TV. Like the traditional cable it's gunning to replace, live streaming TV is increasingly an expensive hot mess.
This article originally appeared on Engadget at https://www.engadget.com/entertainment/streaming/fubo-grows-its-subscribers-and-revenue-as-disney-deal-looms-183344157.html?src=rss https://www.engadget.com/entertainment/streaming/fubo-grows-its-subscribers-and-revenue-as-disney-deal-looms-183344157.html?src=rssLogin to add comment
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