Right now, Fubo is fighting hard to stop a new live TV streaming service from Disney, Fox, and Warner Bros. Discovery that is expected to shake up the world of live TV. Venu Sports will offer a collection of just sports channels—something other providers cannot do.
Now we may have a good idea as to why this is so important as, according to a report by MoffettNathanson, just 49,000 people subscribed to a live TV streaming service in the second quarter of 2024.
Cord cutting shows no sign of slowing down, with embattled cable TV companies losing another 1.62 million subscribers in the second quarter of 2024. This decline precedes the recent public dispute between DIRECTV and Disney, which further underscores the challenges faced by the pay-TV industry. The total number of pay-TV subscribers has plummeted to just 68.76 million, a figure that’s expected to continue its downward trajectory.
For years, industry observers hoped that live TV streaming services like YouTube TV, Fubo, and Hulu + Live TV would offset the losses from traditional cable subscriptions. However, these services collectively added a mere 49,000 subscribers in the second quarter, according to a report by MoffettNathanson.
If this trend continues, many wonder how all these live TV streaming services will be able to succeed as they struggle to find a following amid competition from new services and on-demand services.