Fubo Lost 107,000 Subscribers In North America in The 1st Quarter 2024





Today the live TV streaming service Fubo reported its 1st quarter 2024 earnings that show it lost 107,000 subscribers in North America. This comes as Fubo reported adding 141,000 subscribers to end the 4th quarter of 2024. Fubo posted an 18% year-over-year growth in subscribers and a 24% year-over-year revenue growth. Subscriber losses in the 1st quarter are common as many popular sports end like NFL and NCAA basketball.

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.

In a statement about the lawsuit to Fubo said ” We continue to believe in the merits of our lawsuit, and thank those who have publicly supported us, such as DIRECTV and DISH. We remain steadfast in our fight to level the playing field of the sports streaming industry since, as alleged in our court filings, we believe the launch of the joint venture (a collaboration to introduce a sports-only streaming service) controlled by these parties could cause
irreparable harm to Fubo and to consumers. A win for Fubo is a big win for consumers, and we are encouraged by the Court’s recent decision to grant limited discovery and set an August 7, 2024 hearing date for our preliminary injunction motion, as well as the Court’s indication that it intends to
render a decision before the launch date of the JV. We are further encouraged by reports of the Department of Justice’s (DOJ) ongoing investigation and congressional inquiries into the joint venture. We believe customers deserve choice, fair pricing and innovative products, and this is only possible in a competitive streaming marketplace. Given the many unknowns related to the potential launch of the joint venture, including the outcome of the lawsuit and the DOJ’s reported investigation, our guidance 1 and our planned path to profitability do not reflect any potential impact of the joint venture launch to our business.”

Fubo this week also lost access to Discovery channels including HGTV, Discovery, and more.

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