Fubo finished the first quarter of 2023 with more than 1.6 million subscribers, marking a decrease compared to the previous quarter, but an increase compared to the first quarter of 2022. Fubo is still some way behind the likes of Sling TV, Hulu Live TV, and the market leader, YouTube TV, in terms of the number of subscribers.
The first quarter of the year was an interesting one for Fubo. During these three months, the live TV service rebranded as Fubo (from fuboTV), added Bally Sports, saw the loss (and return) of local CBS stations, and increased the cost of its monthly plans. In fact, Fubo also increased the cost of its RSN fee, which would have felt like a price increase on top of a price increase for some homes.
In spite of the increases, Fubo had 1,664,000 global subscribers as of the end of March 31, 2023. In terms of North America, Fubo had 1.285 million subscribers at the end of Q1 2023. Compared to the first quarter of 2022, when the company reported just under 1.06 million subscribers, this represents an increase of around 200,000.
Fubo tends to place less emphasis on quarter-over-quarter changes, but the 1.285 million does represent a decrease compared to the 1.4 million that the company reported at the end of the previous quarter, and 2022 as a whole.
In terms of the current quarter, Fubo’s guidance points to 1.13 million North American subscribers at the end of Q2, 2023. If correct, that would represent another quarter-over-quarter decline, albeit an increase compared to the 942,000 subscribers reported for the second quarter of last year.
Fubo also anticipated 380,000 ‘rest of world’ subscribers at the end of the second quarter, which would then take the overall number of global subscribers to just over 1.5 million.
By the end of 2023, Fubo expects to be delivering live TV to between 1.550 and 1.570 million subscribers in North America alone.