Fubo is being acquired by Disney. As such, its financial health is of keen interest to those within ESPN, ABC Owned Stations and elsewhere across The Walt Disney Co.
How did the “sports first” virtual MVPD perform during the final three months of 2024?
It was a mixed quarter for Fubo, as advertising revenue declined to $34.39 million from $38.99 million while subscription revenue surged to $406.88 million from $370.09 million.
This put Fubo’s total Q4 revenue at $431.82 million, up from $400.65 million in the same period of 2023.
While that’s good news, North America Monthly Average Revenue per user (ARPU) improved to $87.90, from $86.65.
This growth significantly lowered Fubo’s net loss from continuing operations, shrinking it to $40.93 million from $71.04 million. Adjusted EBITDA was -$8.7 million, but that is significantly improved from -$50.14 million seen in Q4 2023.
Better yet, Free Cash Flow of $16.27 million was achieved in Q4, compared to -$5.85 million in the comparable period of 2023.
Total it all up, and Fubo’s adjusted net loss from continuing operations shrank to $9.55 million (-$0.02 per share) from $49.96 million (-$0.18).
“As we look ahead to 2025, Fubo remains focused on delivering to consumers an unparalleled streaming experience with multiple and flexible content options at appropriate price points,” said co-founder and CEO David Gandler. “This is demonstrated by our recently announced business combination agreement with The Walt Disney Company’s Hulu + Live TV and our plans to launch a new Sports & Broadcasting service, both of which we expect to further scale our business, deliver additional compelling sports content to consumers and bring more competition to the industry. We will continue to provide periodic updates as the Disney transaction progresses.”
