FuboTV generates over $1BN in global annual revenues for first time | Major Businesses | Business | News | Rapid TV News
By continuing to use this site you consent to the use of cookies on your device as described in our privacy policy unless you have disabled them. You can change your cookie settings at any time but parts of our site will not function correctly without them. [Close]
Building on a third quarter where it beat expectations for revenues and customers, sports-first live streamer fuboTV has delivered what it calls record highs in annual revenue and subscribers across its global business and has exceeded again previously announced forecasts.
fubo LG 28FEb2023
Notably for full year ended 31 December 2022, the company surpassed $1 billion in global annual revenue for the first time. In North America, the company generated $984 million in total revenue, up 55% year-on-year, including $100 million in advertising revenue, and reached 1.445 million subscribers, growing 29% annually. Fubo’s fourth quarter revenue in North America was $312.1 million, up 36% compared with the end of 2021 while ad revenue for the quarter soared 30% annually to $33.6 million.

In the Rest of World (ROW), the company delivered $7.2 million in revenue and 420,000 total paid subscribers, up 117% year-on-year during the fourth quarter. ROW income included the results of Molotov, the French live TV streaming service acquired by Fubo in December 2021.

“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 commenting on the annual and fourth quarer tresults.results.

“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.”