• by Wayne Friedman , August 6, 2024

Sports-focused streaming pay TV provider FuboTV continued to see sharply higher quarterly revenues -- up 24% in the second quarter in North America to $382.9 million -- while also cutting its net loss in half.

Its net loss was at $25.8 million -- down from $54.2 million.

North American subscribers grew 24% to 1.45 million year-over-year, but slipped 61,000 versus the previous quarter.

The average revenue per subscriber grew to $85.69 -- up from $81.62 -- while international subscribers were up 1% year-over-year to 399,000

Overall, subscription revenue was up 26% to $362.9 million; with advertising revenue 14% higher to $26.3 million. 

The company touted a recent study from iSpot showing 62% of ad impressions served between July 2023 and March 2024 on Fubo went to incremental households that are “unreachable” on linear TV. It also claims sports focused brands can’t access targeted viewers via any other streaming services as well.

Looking forward, Fubo expects North American subscribers to rise 9% to between 1.61 million and 1.63 million in the third quarter and full-year subscribers to climb 7% to 1.73 million to 1.75 million.

In February, Fubo filed a lawsuit for “anti-competitive practices” against Walt Disney, Warner Bros. Discovery and Fox Corp. for their upcoming joint venture launch called Venu Sports, a streaming sports-focused platform.

Venu Sports -- which will consist of 14 live sports channels -- will launch this fall at a $42.99 price tag.

At the same time, Fubo noted the big upcoming loss at Warner Bros. Discovery of losing its long time NBA TV package after next season.

David Gandler, co-founder/CEO of Fubo, said in the company’s earnings release: “We also continue to advocate for a fairer playing field in the media industry, benefiting Fubo, our competitors and, most importantly, the American consumer.”

This story has been updated.