FuboTV Ups 2022 Revenue, Subscribers and Fiscal Loss
February 27, 2023
Sports-themed online television platform FuboTV on Feb. 27 announced that in its fiscal-year 2022 (ended Dec. 31), it generated revenue of more than $1 billion, up 58% from revenue of $638.4 million in fiscal 2021. The platform ended last year with 1.45 million subscribers, an increase of almost 29% from 1.122 million subscribers at the end of 2021.
Subscription data includes French-based live sports streaming platform subsidiary Molotov, which ended the year with 420,000 subscribers. With the platform’s key competitor ceasing operations, Fubo has high hopes for Molotov’s 2023 prospects.
“We believe this new media landscape in France will bring us significant opportunities to further enhance our unit economics and efficiently scale our subscriber base,” Fubo co-founder/CEO David Gandler said in a statement.
With increased revenue, unfortunately, also came increased costs, upping FuboTV’s fiscal year net loss past $411 million, compared with a net loss of $328 million at the end of 2021.
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Bright spots included Fubo’s North American advertising revenue, which increased 37% to more than $100 million, from $73 million in 2021. In the fourth quarter, ad revenue spiked 30% to $33.6 million, from $25.8 million in the previous-year quarter.
“In 2023, we are focused on increasing our ad inventory with the continued launch of new free ad-supported television (FAST) channels,” Gandler said. “Our product teams are also working on improving consumer discovery of our FAST channels to give our customers a greater diversity of content, while also expanding our ad inventory.”