Today FuboTV announced that they have ended 2022 with 1.8 million subscribers. 1.445 million subscribers from North America up 29% year-over-year, and 420,000 in the rest of the world.
In total, FuboTV has $1 billion in annual total global revenue and $100 million in North American ad revenue. In total, FuboTV lost about $95.9 million in the 4th quarter of 2022.
“Fubo’s fourth quarter results represent a strong finish to 2022 and an inflection point for our company supported by two very important milestones: we surpassed $1 billion in total annual revenue and $100 million in ad sales annual revenue for the first time,” said David Gandler, co-founder and CEO, Fubo. “The fourth quarter also marked our lowest level of quarterly cash usage in Fubo’s time as a publicly-traded company and we achieved positive gross profit. Over the course of 2022 we undertook bold measures to position our business for today’s challenging macroeconomic environment. We furthermore believe that Fubo’s model will prove to be resilient, profitable and poised to continue to deliver a truly differentiated consumer experience while providing our media partners with a growing distribution platform.”
“Fubo delivered a record fourth quarter and full year across a number of our key financial and operational metrics,” said Edgar Bronfman Jr., executive chairman, Fubo. “In 2022, we added differentiated content, including Bally Sports’ expansive portfolio of regional sports networks, aimed at driving subscriber growth and doubling-down on our sports-first positioning. We believe our continued subscriber growth gives us real leverage in partner negotiations and we are more closely examining which content aligns with our profitability goals. Additionally, we believe our Unified Platform initiative, which will integrate Molotov’s team and technology, will drive further innovation enabling us to deliver a premium experience that surprises and delights our customers. We remain very excited about the opportunity in front of us.”
In Q1 of 2023, FuboTV projects subscriber guidance projects 1,140,000-1,160,000, subscribers. In addition, our Q1 2023 revenue guidance projects revenue of $295-$300 million.
When most TV services streaming or traditional, are losing subscribers FuboTV was one of the few to report growth.