Kick the Cord

FuboTV has filed for an IPO on the New York Stock Exchange. The sports streaming service will issue 15 million common stock shares, looking to raise up to $165 million.

Its subscriber base has steadily grown since launching in 2015. Shares are expected to be between $9-$11.

Americans are dropping cable at a rapid clip, with accounts down 22.8% from 2014’s peak. By 2024, it’s expected more than a third of those still tethered will cut the cord.

FuboTV Second Quarter Earnings: 

$39.5 million in subscription revenue (up 51% year-over-year)

$4.3 million in advertising revenue (up 71%)

$99.8 million net loss

$54.79 average revenue per user

286,126 paid subscribers (up 47%)

98.6 million hours streamed (up 83%)