Sports-centric live-streaming television service Fubo TV says it ended its most-recent fiscal quarter with over 1.445 million subscribers, boosted in part by the World Cup soccer tournament on Fox and Telemundo as well as the National Football League’s regular season.
Despite posting revenue gains — the streamer boasted that it generated $1 billion in revenue for 2022, a first for the company — Fubo TV continued to burn through cash at an alarming rate, with the company posting a year-over-year global operating expense increase of 27 percent to $413.2 million for the quarter, up from $324.6 million compared to the previous year.
Revenue for the quarter was at $319.3 million, which means Fubo TV lost $93.9 million for the quarter.
In a statement, a Fubo TV spokesperson said its revenue gains showed “our unique value proposition and our long-standing thesis that an aggregate offering with multiple monetization levels remains the most-attractive live TV option for consumers and media partners.”
