HomeBroadcastFuboTV Reports $1 Billion In Global Annual Revenue

FuboTV Reports $1 Billion In Global Annual Revenue

FuboTV Reports $1 Billion In Global Annual Revenue

FuboTV has announced that it surpassed US$1 billion in global annual revenue for the first time in 2022.

In North America, revenue increased 55% year-over-year to US$984 million, with advertising revenue reaching US$100 million — also a record.

In addition, subscribers jumped 29% year-over-year to a record 1.45 million.

FuboTV offers the most sports-specific channels and a sufficient lineup of entertainment networks. Soccer is FuboTV’s specialty, but league channels like NBA TV, NHL Network, and NFL Network bolster its athletic scope, according to CableTV.com.

Global revenue reached US$7.2 million and subscribers increased 117% year-over-year to 420,000.

Commenting on subscribers, FuboTV’s executive chairman, Edgar Bronfman Jr., said that differentiated content was introduced in 2022 in increase subscriber growth.

“In 2022, we added differentiated content, including Bally Sports’ expansive portfolio of regional sports networks, aimed at driving subscriber growth and doubling down on our sport-first positioning,” said Bronfman.

FuboTV offers up to 230 live channels, a 1,000-hour cloud DVR, and an interface that mirrors what you’re used to with cable or satellite service.

Fourth-quarter revenue increased 38% year-over-year to US$319.3 million and in North America, fourth-quarter revenue jumped 36% year-over-year to US$312.1 million, with advertising revenue up 30% year-over-year to US$33.6 million.

However, FuboTV also reported a Q4 net loss of US$95.9 million.

During the quarter, FuboTV closed its Fubo Gaming subsidiary and operations of its Fubo Sportsbook, which launched in 2021.

Fubo had revealed in August it would no longer pursue independent wagering, claiming that “while multiple parties expressed interest in the business, none of these opportunities would have allowed Fubo to lower its funding requirements and generate sufficient returns to shareholders.”

This announcement comes after FuboTV Raised US$218 Million In IPO.

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