NEW YORK—FuboTV Inc. has announced financial results for the fourth quarter and full year ended December 31, 2024 that include record total revenue and paid subscribers.
The vMVPD, which is in the process of being acquired by Disney, also achieved its first quarter of positive free cash flow.
“Fubo continued to deliver on our promise to shareholders in 2024, achieving record total revenue and paid subscribers in North America, as well as significant improvements in Adjusted EBITDA and Free Cash Flow,” said David Gandler, co-founder and CEO, Fubo. “Notable achievements in 2024 included the launch of standalone sports and entertainment skinny bundles as part of our mission to be a Super Aggregator, and expanded availability of our market-first user-configurated Multiview product to Roku devices. We also introduced innovative and interactive connected TV ad formats for brand marketers.
Gandler also noted that they recently announced a business combination agreement with The Walt Disney Company’s Hulu + Live TV and that they plan “to launch a new Sports & Broadcasting service, both of which we expect to further scale our business, deliver additional compelling sports content to consumers and bring more competition to the industry.”
Fubo delivered full year 2024 results in North America of $1.588 billion in total revenue, up 19% year-over-year (YoY), and 1.676 million subscribers, up 4% YoY, both record-breaking metrics for the Company. Fubo closed the fourth quarter with $433.8 million in total revenue, up 8% YoY, in North America, achieving its guidance. Average revenue per user (ARPU) in the fourth quarter was $87.90 in the region, an all-time high for the Company and an expansion of 1.4% YoY.
In the Rest of World (ROW), the Company delivered $9.4 million total revenue, up 12.1% YoY, and 362,000 paid subscribers, down 10.9% YoY. ARPU reached $8.50, up 24.8% YoY. ROW includes the results of Molotov, the French live TV streaming service acquired by Fubo in December 2021.
On a full-year basis, Fubo achieved YoY improvements in net loss of $115 million, Adjusted EBITDA of $115 million, Net cash provided by operating activities of $97 million and free cash flow of $104 million. AEBITDA and free cash flow each improved by over $100 million in 2024. This marked the second consecutive year of over $100 million annual improvements in AEBITDA and Free Cash Flow.
Looking ahead, Fubo reported that it is projecting $400 million to $410 million total revenue, representing 3% YoY growth at the midpoint. But it is also projecting 1.430 million to 1.460 million total subscribers, representing a 4% YoY decline at the midpoint. This outlook reflects the potential subscriber impact of the carriage disput with TelevisaUnivision.
