FuboTV Inc. the sports-first live TV streaming platform, released its first-quarter 2025 financial results today, showcasing a mix of challenges and successes. The company reported a slight decline in its North American subscriber base but achieved significant improvements in profitability metrics, bolstered by a substantial litigation settlement gain. Fubo also highlighted strategic initiatives, including new content bundles and a pending business combination with Hulu + Live TV, aimed at strengthening its position in the competitive streaming market.
In Q1 2025, Fubo ended with 1.47 million subscribers in North America, a decrease of 206,000 subscribers compared to the 1.676 million reported at the end of 2024. The Rest of World (ROW) subscriber count also saw a reduction, dropping to 354,000 from 397,000 in the same period last year, a 10.9% decrease. Despite the subscriber losses, Fubo’s North American revenue reached $407.9 million, up 3.5% year-over-year, driven by a stable Average Revenue Per User (ARPU) of $85.37. Globally, total revenue for the quarter was $416.3 million, a 3.5% increase from $402.3 million in Q1 2024.
The subscriber decline in North America was attributed to seasonal fluctuations and competitive pressures in the streaming and Pay TV markets. However, Fubo emphasized its focus on retaining sports-focused audiences through innovative offerings like the new Latino + Beisbol plan, which combines Spanish-language content with regional sports network (RSN) baseball coverage, and standalone RSN subscriptions. The company also renewed its exclusive multi-year rights agreement with the English Premier League in Canada, reinforcing its position as the premier soccer streaming platform in that market.
Financially, Fubo delivered impressive improvements. Net income from continuing operations soared to $188.5 million, a $244.8 million improvement from a $56.3 million loss in Q1 2024, largely due to a $220 million gain from a litigation settlement with Disney and ESPN along with Warner Bros. Discovery and Fox. Adjusted EBITDA improved significantly to a loss of $1.4 million, a $37.4 million enhancement from the $38.8 million loss in the prior year. Free Cash Flow also saw a modest improvement, reaching negative $62 million, up $9.3 million from Q1 2024. These gains reflect Fubo’s ongoing efforts to enhance operating leverage and implement cost controls while continuing to invest in technology and user experience.
Looking ahead, Fubo provided guidance for Q2 2025, projecting North American subscribers to range between 1.225 million and 1.255 million, indicating a potential further decline, and revenue between $340 million and $350 million. For ROW, subscribers are expected to be between 325,000 and 335,000, with revenue of $6.5 million to $7.5 million. The company remains committed to achieving global streaming business profitability in 2025.
Fubo’s pending combination with Hulu + Live TV, currently under regulatory review, is anticipated to reshape its market presence. The deal is expected to offer consumers more choice and flexibility, aligning with Fubo’s mission to aggregate premium sports, news, and entertainment content through a single app. As Fubo navigates subscriber challenges and competitive pressures, its focus on sports-centric innovation and strategic partnerships underscores its ambition to redefine the live TV streaming landscape.
Please follow us on Facebook and X for more news, tips, and reviews. Need cord cutting tech support? Join our Cord Cutting Tech Support Facebook Group for help. You can find Luke on X HERE.
Update: We updated our story with additional details on the Fubo settlement between Disney, Fox, and Warner Bros. Discovery.