FuboTV reports increased revenues, hails aggregration model

Sports-first streaming platform FuboTV has unveiled increased revenues and subscribers for Q3, 2022. In North America, the company saw a 40% year-on-year increase to US$219.2m, with subs now at 1.23m (up 31%). Internationally, the company delivered US$5.8 million in revenue and 358,000 total paid subscribers. ROW includes Molotov, the French live TV streaming service acquired in December 2021.

David Gandler, co-founder and CEO, FuboTV, said: “Our third quarter was marked by meaningful advancements against our long-term plan of continued growth with improved profitability along the way. As our premium offering continues to drive an ever greater number of consumers to our platform, our differentiated product experience and broad content portfolio keep them engaged – with this quarter representing an all-time low for subscriber churn. We are more bullish than ever on our model as consumers gravitate towards aggregated streaming platforms.”

David Gandler

Edgar Bronfman Jr, executive chairman, FuboTV, said: “As consumers continue to become disillusioned with the many expensive and content-limited streaming services in the market, and those streaming services turn to other monetisation levers like advertising, we are excited about our unique positioning in the marketplace. We believe our dual subscription and ad model provides value for shareholders while our aggregation of sports, news and entertainment content is affordable for consumers.”

FuboTV, which will be streaming the FIFA World Cup 2022 in its entirety, reported a loss of $152.7m for the same quarter, but said it is on target for 2025 profitability. Among initiatives to encourage subscriber retention, the platform has been building up its FAST channel portfolio. Currently it has around 60 channels, having recently added five from Cinedigm. Its goal is to reach 100 channels by the end of the year.