Fubo finishes 2024 with over 2 million global subscribers
Fubo finishes 2024 with over 2 million global subscribers
Ahead of potentially massive changes for the streamer in 2025, the sports-focused platform is on the doorstep of profitability.
The last week of February is a busy one for streaming providers, even live TV streaming services that distribute popular cable channels. Fubo reported its earnings for the fourth and final quarter of 2024 on Friday, and as part of that report revealed that it had grown to 2.04 million subscribers, an increase from its third-quarter total of 1.91 million customers. North American customers of the streamer now number 1.676 million, a year-over-year jump of 3.6%.
Financially, Fubo enjoyed another good quarter. Its average revenue per user (ARPU) in North America rose to $87.90, an increase of $1.25 over Q4 2023. That ARPU total was the highest on record for the company, which is nearing profitability. Total revenue for the final three months of 2024 in North America rose 8% year over year, landing at $433.8 million. On the year, Fubo reached $1.588 billion in total revenue, up 19% year over year.
The sports-streamer’s net loss for the quarter was $40.9 million, down from $71 million in the corresponding quarter a year ago.
“In the fourth quarter, Adjusted EBITDA was -$8.7 million, a $41.4 million improvement when compared to the fourth quarter 2023,” Fubo said in its letter to shareholders, “reflecting the Company’s continued focus on efficient growth, cost control and achieving profitability.”
Given the massive changes that the company could well be undergoing over the next year, the fact that the streamer is on the precipice of profitability should make shareholders of both Fubo and Disney happy.
How many more earnings reports will Fubo give on its own?
Fubo shocked the streaming world shortly after the conclusion of the fourth quarter when it announced in January that it would merge with Hulu + Live TV. The new company is to fall under the majority control of Disney, but current Fubo executives, including CEO David Gandler, will continue to oversee it.
In December, Fubo launched a new plan it calls the Essential package. It’s essentially the same as the Fubo Pro plan, except it does not include any regional sports networks. That means customers can now choose for themselves if they’ll pay the additional $16 per month it takes to watch RSNs with a Fubo subscription.
The Essential plan launched at a price of $80 per month, but that price rose to $85 in January. At that time, Fubo raised the price of all of its subscription plans by $5 per month, likely as a way to offset the number of customers it knows it will lose headed into the first quarter of 2025, when the end of football season will probably cause a large number of cancelations.
Fubo
Fubo is a live TV streaming service offering a robust lineup of approximately 150 premier channels, with plans starting at $63.99 per month. This entry-level package provides access to local broadcast affiliates 18 of the leading 35 cable channels channels, and valuable regional sports networks (RSNs).