FuboTV Inc. experienced a sequential drop in its North American subscriber base during the second quarter of its fiscal year 2026, which ended on March 31, 2026. The company reported 5.7 million total and paid subscribers in the region, down from 6.2 million in the first quarter. This represents a decline of approximately 500,000 subscribers, or about 8.1 percent.
The decrease comes after a period of integration following Fubo’s business combination with Hulu + Live TV. In the first quarter, ended around December 31, 2025, the company had achieved 6.2 million total subscribers on a combined basis in North America. The Q2 figures reflect adjustments in the live TV streaming market, where competition remains intense from other services offering sports, news, and entertainment content.
Despite the subscriber reduction, Fubo posted record global revenue for the quarter. Revenue reached $1.574 billion, marking growth compared to the prior year. In North America specifically, revenue stood at $1.566 billion. The company also narrowed its net loss to $6.2 million from higher levels in the year-ago period and achieved positive adjusted EBITDA of $37.7 million. These results indicate improved operational efficiency and monetization even as the subscriber count adjusted.
Fubo ended the quarter with $244 million in cash, cash equivalents, and restricted cash. Management has reaffirmed its fiscal year 2026 guidance, targeting pro forma adjusted EBITDA between $80 million and $100 million. Longer-term goals include reaching at least $300 million in adjusted EBITDA by fiscal 2028, along with expectations for positive free cash flow in 2027 and 2028. Ending cash for fiscal 2026 is projected to remain at or above $200 million.
The subscriber trends occur against a backdrop of strategic developments with Disney, of which Fubo is now an affiliate following the combination. The company is advancing cross-selling integrations to support future growth. Hulu Live’s content packages have become available within Fubo’s e-commerce flow, allowing customers to select from various options including Fubo Sports, Fubo Pro, Hulu + Live TV, and others directly through the Fubo platform. This aims to provide greater flexibility and choice for consumers seeking different combinations of sports and entertainment programming.
Further distribution enhancements are planned. ESPN.com’s “Where to Watch” pages will soon include direct links to Fubo, facilitating easier access for viewers interested in streaming live sports and related content. Additionally, the Fubo Sports service is set to become an option in ESPN’s sign-up flow during the first half of 2027. This service incorporates ESPN Unlimited along with networks from FOX, CBS, and other providers, potentially broadening Fubo’s reach through ESPN’s established user base.
Fubo continues to invest in product improvements. The company is developing an AI assistant feature designed to help users search DVR content using natural conversation rather than specific commands. Initial rollout is planned for platforms including Roku, Apple TV, and mobile devices later in 2026, with expansion to additional programming categories anticipated. These initiatives reflect efforts to enhance user experience in a competitive streaming landscape.
The live TV streaming sector faces ongoing challenges, including content costs, customer acquisition, and retention amid economic pressures and shifting viewer habits. Fubo positions itself as a sports-first service while expanding entertainment options through the combined offerings. Its scale as one of the larger pay TV providers in the United States supports negotiations and partnerships in the industry.
Overall, the Q2 results highlight a mixed performance for Fubo. The subscriber decline in its primary North American market presents a short-term headwind, but record revenue and progress on integrations suggest potential for stabilization and growth. Industry observers will monitor how the Disney-related enhancements and technological features influence subscriber metrics in upcoming quarters. Fubo’s ability to balance content investments with profitability targets will remain key as it navigates the evolving media environment.
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