Fubo ended the second quarter of 2024 with 1.45 million paid subscribers in North America. The latest subscriber update reflects a decline of around 60,000 on the 1.51 million reported for the previous quarter.
Considering Fubo also reported a loss of just over 100,000 during the previous quarter, the live TV service has lost roughly 170,000 subscribers so far in 2024. While down on a quarterly basis, the 1.45 million is considerably up on the 1.16 million reported for the same quarter of 2023.
In terms of the company’s Rest of World (ROW) market, Fubo closed Q2 2024 with 399,000 paid subscribers, which is very slightly up on the 397,000 reported for the previous quarter, and also slightly up on the 394,000 ROW subscribers reported for Q2 2023.
Based on these latest results, Fubo has now made some adjustments to its predictions for the rest of the year. For example, Fubo now expects to close out the third quarter of 2024 with between 1,605,000 and 1,625,000 paid subscribers in North America. The company also now expects to close out 2024 as a whole with between 1,725,000 and 1,745,000 paid subscribers.
Likewise, Fubo’s latest guidance points to the live TV service closing the third quarter with between 397,000 to 402,000 ROW subscribers, and closing out the calendar year with between 395,000 and 405,000 ROW subscribers.
It is worth noting that these expectations do not include any impact that may or may not be felt from Venu Sports and Fubo’s ongoing antitrust lawsuit. While Disney, Fox and Warner Bros. Discovery have suggested the launch of Venu Sports won’t impact live TV subscribership to an meaningful degree, Fubo adamantly disagrees.
Basically, Fubo’s guidance on the third quarter and full year seem to be based on the assumption that Venu Sports won’t launch in the fall, as expected. If the sports-streaming service does launch on time, and assuming Fubo’s predictions of the impact are correct, subscriber numbers could look very differently in future quarters, and not just for Fubo.
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