Kick the Cord

    • FuboTV subscribers were up 47% year-over-year in the second quarter
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Today's Action

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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%)