• Loading stock data...
Tuesday, April 16, 2024
  • -
    days
  • -
    hours
  • -
    minutes
  • -
    seconds

After Shutting Down Gaming, FuboTV Reports Record Year

  • Revenue in North America increased 55% year-over-year in 2022.
  • Advertising revenue in North America reached $100 million for the first time.
FuboTV signage
Shutterstock

FuboTV, which calls itself a “sports-first cable TV replacement product” in the U.S., surpassed $1 billion in global annual revenue for the first time in 2022.

In North America, revenue increased 55% year-over-year for the full year to $984 million, with advertising revenue reaching $100 million — also a record. Subscribers jumped 29% year-over-year to a record 1.45 million.

For the rest of the world, revenue reached $7.2 million and subscribers increased 117% year-over-year to 420,000.

“In 2022, we added differentiated content, including Bally Sports’ expansive portfolio of regional sports networks, aimed at driving subscriber growth and doubling down on our sport-first positioning,” said Edgar Bronfman Jr., executive chairman at Fubo.

Fourth-quarter revenue increased 38% year-over-year to $319.3 million. In North America, fourth-quarter revenue jumped 36% year-over-year to $312.1 million, with advertising revenue up 30% year-over-year to $33.6 million.

FuboTV reported a Q4 net loss of $95.9 million.

During the quarter, FuboTV closed its Fubo Gaming subsidiary and operations of its Fubo Sportsbook, which launched in 2021. Fubo had revealed in August it would no longer pursue independent wagering.

FuboTV claimed that “while multiple parties expressed interest in the business, none of these opportunities would have allowed Fubo to lower its funding requirements and generate sufficient returns to shareholders.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Chicago’s Sports Media About to Experience a Major Shake-Up

Three Chicago pro teams’ media rights could shift to Stadium as soon as this fall.

To Sum Up Current Commanders, Coyotes Situations: It’s Complicated

The Commanders hire a Capitol Hill insider as the team continues its stadium pursuit.

Star-Studded NBA Play-In a Potential Ratings Boon for ESPN and TNT

The initial portion of the NBA postseason features three former MVPs.

NBA’s Two Tourneys Drive Record Attendance

Total attendance for the 2023–24 season, which ended Sunday, was 22,538,518.
podcast thumbnail mobile
Front Office Sports Today

Inside the Most-Hyped WNBA Draft in History

0:00
0:00

Featured Today

Women’s Basketball Finally Has a TV Deal to Match the Excitement. Now What?

A lucrative new media-rights contract could rectify problems of the past, but the future of March Madness media rights is anyone’s guess.
Mar 16, 2024; Washington, D.C., USA; North Carolina State Wolfpack forward DJ Burns Jr. (30) cuts the net after defeating the North Carolina Tar Heels for the ACC Conference Championship at Capital One Arena.
April 6, 2024

How Two College Seniors Helped DJ Burns Cash In on a Final Four Run

Two college seniors are facilitating deals for NC State’s big man.
Mar 31, 2024; Portland, OR, USA; NCAA officials measure the three point line while coaches from the Texas Longhorns and NC State Wolfpack watch with referees in the finals of the Portland Regional of the NCAA Tournament at the Moda Center center.
April 1, 2024

NCAA Has No One to Blame for Latest Women’s March Madness Transgressions

NCAA is still making avoidable mistakes three years after a complete overhaul.
Nov 16, 2015; Bloomington, IN, USA; General view of the championship banners at Assembly Hall prior to the game between Austin Peay and Indiana.
March 31, 2024

How to Make It in Basketball: Become a Manager at Indiana

Inside the Hoosiers’ unglamorous, profoundly rewarding incubator for basketball’s biggest names.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Nike
Multiple - USA Careers
NBA
Multiple - USA Careers
Dunham's Sports
Multiple - USA Careers

Silver Lake to Take Endeavor Private, Ending Tough Stock Market Run

Private equity giant Silver Lake is set to acquire the remaining shares it didn’t already own.
Exterior of Nike Company Store
February 16, 2024

Nike to Lay Off 2% of Its Workforce in Cost-Savings Effort

The sportswear giant hinted at staff cuts in a December earnings call.
DraftKings
February 16, 2024

DraftKings Trends Toward the Black, Buys Lottery App

The sports gambling giant continues to narrow its losses.
Sponsored

Rapid Returns: How Technology Is Getting You Back to Your Seat

How Oracle’s POS technology is helping fans get back to their seats faster.
February 7, 2024

ESPN DTC to Debut by Fall 2025, but Streaming Alliance Hastens Market Entry

Date set for stand-alone version of network, but new joint venture will beat that by a year.
January 22, 2024

They Make Sports Balls—and They Could Be Worth Almost $9 Billion

Amer Sports looks to raise as much as $1.8 billion in the public markets.
A view of a FanDuel sportsbook location.
January 18, 2024

FanDuel Strengthens U.S. Dominance Ahead of NYSE Debut

Flutter posts strong financial results as NYSE shares are set to debut Jan. 29.
The swoosh logo at Nike Eugene.
September 28, 2023

Nike Misses Revenue Wall Street’s Projections, But Company’s Stock Soar

The company offset the shortfall by exceeding expectations in earnings per share.