Fubotv Inc. ( (FUBO) ) has released its Q3 earnings. Here is a breakdown of the information Fubotv Inc. presented to its investors.
FuboTV Inc. is a sports-first live TV streaming platform offering a wide range of sports, news, and entertainment content primarily in the United States, Canada, and Spain. The company continues to push the boundaries of live TV streaming with innovative features like 4K streaming and Multiview.
In its latest earnings report, FuboTV reported strong third-quarter results for 2024, with notable revenue and subscriber growth in North America. The company achieved a 21% year-over-year increase in North America revenue and a 9% increase in subscribers. Additionally, FuboTV reported improvements in key profitability metrics, including a $29.8 million improvement in net loss, $33.8 million in adjusted EBITDA, and $31.3 million in free cash flow compared to the previous year.
Among the highlights, FuboTV filed an antitrust lawsuit against Disney, Fox, and Warner Bros. Discovery, gaining preliminary injunction to block their joint streaming venture. The company also launched new features and partnerships, such as the popular Multiview feature on Roku devices and a multi-year partnership with The Athletic. FuboTV’s North America advertising revenue reached $26.9 million, with commitments for the 2024-2025 season up over 40% from the previous season.
FuboTV continues to prioritize delivering a high-quality, innovative, and personalized user experience while maintaining its commitment to a competitive streaming landscape. Looking ahead, the company projects further growth in both revenue and subscribers for the full year 2024, with North America revenue expected to grow by 19% year-over-year.
As FuboTV focuses on its path to profitability in 2025, the company remains committed to leveraging its investments in technology and content to deliver value to customers and shareholders, while navigating the dynamic streaming industry landscape.
