
The number of North American customers paying for a subscription to sports-centric streaming service inched up slightly during its third financial quarter (Q3) of the year, the company disclosed on Friday.
Despite carrying the 2024 Summer Olympic Games from NBC and its co-owned cable channels and offering games from the National Football League (NFL) on NBC, Fox, ESPN and CBS, the company’s North American subscriber base grew by 160,000 customers during the three-month period that ended September 30.
Total customers in North America was clocked at 1.613 million, a year-over improvement of 9 percent, but far below the number of customers who pay for competing services like Disney’s Hulu with Live TV, Echostar-owned Sling TV or Google-backed YouTube TV. In the prior quarter, Fubo had 1.45 million customers in North America.
Fubo also owns streaming video platforms in Canada and France, with its total global subscriber count at just over 1.9 million, the company affirmed.
Average revenue per user (ARPU) was $85.64 during Q3, or a nickel off from the $85.69 reported during Q2. Fubo says it prefers to evaluate its metrics on a year-over basis, given the seasonality of sports content, which is a big customer and revenue driver for the company — so much so that Fubo executives argued in federal court earlier this year that if a competing service owned by Disney, Fox and Warner Bros Discovery were to launch, Fubo would go bankrupt.
Net loss attributed to Fubo’s continued operations was $54.7 million during Q3, an improvement from the $84.5 million lost during the same period last year.
Fubo adjusted its subscriber and revenue guidance on Friday, saying it now expects to have between 1.665 million and 1.705 million customers in North America — down from the 1.72 million to 1.74 million it forecast in August — with total revenue landing between $1.58 billion and $1.6 billion for 2024, unchanged from prior guidance.
Share of Fubo closed down 12 percent on Friday.