In the first quarter of 2025, Fubo experienced a notable decline in advertising revenue and subscriber numbers, primarily due to the loss of channels from Warner Bros. Discovery and TelevisaUnivision.
The company’s advertising revenue for Q1 stood at $22.5 million, marking a 17% decrease compared to the same period last year. This decline was largely attributed to the absence of ad-insertable hours following the removal of the aforementioned channels. David Gandler, CEO and Co-founder of Fubo, stated, “Not having those networks meant losing ad insertable hours.”
Subscriber numbers also saw a downturn. Fubo reported 1.47 million paid North American customers at the end of March, a 2.7% year-over-year decrease. This figure, however, slightly surpassed the company’s guidance of 1.46 million for the period. The subscriber count also declined from 1.67 million at the end of 2024.
Despite these challenges, Gandler expressed satisfaction with the Q1 results, noting they came “against a typically lighter first quarter sports calendar and a broader backdrop of economic uncertainty.”
Looking ahead, Fubo projects a further decline in subscriber numbers. John Janedis, CFO of Fubo, announced that North American subscribers are expected to fall by 14% year-over-year in Q2 2025, with revenue dropping by 10%. This projection follows a 2.7% subscriber decline in Q1 and a projected 17% decline outside North America for the current quarter. The company remains committed to navigating these challenges and adapting its strategies to the evolving media landscape.
About Fubo
FuboTV, also known as Fubo, is a live TV streaming platform founded in 2015 that primarily focuses on sports content, while also offering a wide range of entertainment and news channels. Headquartered in the United States, Fubo operates in North America and select international markets like Spain, France, and Canada. The service offers a cable-like experience with live access to over 100 channels, cloud DVR storage, and support for multiple streaming devices including Roku, Apple TV, Android TV, Amazon Fire TV, and mobile devices. As of early 2025, Fubo reported approximately 1.676 million subscribers in North America and 2.038 million globally. The company has positioned itself as a strong alternative to traditional cable, appealing particularly to sports enthusiasts. In a major industry development, The Walt Disney Company announced plans in January 2025 to acquire a 70% stake in Fubo, intending to merge it with Hulu’s Live TV service. This strategic deal, expected to close within 12–18 months pending regulatory approval, will create the second-largest online pay-TV service in North America.