Today the live TV streaming service Fubo reported its 4th quarter 2023 earnings that show it added 141,000 subscribers in North America. Fubo posted a 12% year-over-year growth in subscribers and a 29% year-over-year revenue growth.
“Our mission has always been to serve the consumer by aggregating the best in TV, including premium sports, news and entertainment content, through a single app with must-have features. And since our founding in 2015, our subscriber base has steadily grown – a testament to the high-value that consumers place on our compelling and technologically innovative content offering. Our performance in Q4 and FY 2023 reaffirms our belief in Fubo’s value proposition and the unparalleled streaming experience that we aim to bring to consumers.” Fubo said in a statement to shareholders.
This news comes as Fubo is suing Disney, Fox, and Warner over their new planned streaming service. The live streaming service is suing to block the joint venture, and alleges in a lawsuit that three media giants stole from the Fubo playbook and that this new venture is the latest attempt in a years-long campaign to block its business. The lawsuit was first spotted by Eriq Gardner.
“This sports cartel blocked our playbook for many years and now they are effectively stealing it for themselves,” CEO David Gandler said in a statement.
Earlier this month Disney, FOX, and Warner Bros. Discovery announced the partnership, which would offer 14 live channels of sports, including ESPN, BTN, FOX Sports, and sports from TNT—to name a few. This would address one of the main complaints of streaming services—the need to switch between apps to see all the games.
Fubo seems concerned that this new streaming service will Fubo.
“Each of these companies has consistently engaged in anticompetitive practices that aim to monopolize the market, stifle any form of competition, create higher pricing for subscribers and cheat consumers from deserved choice,” Gandler said. “By joining together to exclusively reserve the rights to distribute a specialized live sports package, we believe these corporations are erecting insurmountable barriers that will effectively block any new competitors from entering the market.”
Now, this case heads to court and could decide the future of Fubo.
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