Fubo ended the first quarter of 2024 with 1.511 million subscribers in North America. While a decrease on the quarter before, the subscriber number represented a healthy increase on the first quarter of the year before.
Fubo ended Q1 2023 with 1.285 million North American subscribers. As a result, the 1.511 million reported for the most recent quarter represents an increase of more than 200,000 subscribers, 18% year-over-year. However, considering Fubo closed out 2023 as a whole with 1.62 million paid subscribers in North America, the company did see a quarter-over-quarter subscriber decline.
In reality, Fubo typically experiences ups and downs due to the seasonality of sports. Not to mention, the 1.511 million subscribers were higher than the 1.415-1.435 million paid subscribers the company forecasted for the first quarter of this year.
Outside of North America, Fubo reported 397,000 Rest of World (ROW) paid subscribers. The ROW followed a similar pattern to North America, with the 397,000 subscribers a decrease on the 406,000 reported for Q4 2023 and an increase on the 379,000 reported for Q1 2023.
In terms of guidance, Fubo is now projecting 1,275,000 to 1,295,000 subscribers in North America at the end of the second quarter, along with 395,000 to 400,000 ROW subscribers. Again, while this means Fubo is projecting a quarter-over-quarter decline, this is typical of Fubo’s subscriber pattern over the year. Last year for example, Fubo reported 1,167,000 subscribers in North America for Q2 2023, a decline on the 1,285,000 million reported for Q1 2023.
It is also possible that Fubo might endure some additional subscriber losses this quarter, due to its carriage dispute with Warner Bros. Discovery. Earlier this week, all of the Warner Bros. Discovery networks that Fubo carried were dropped, leaving subscribers without access to Discovery, Food Network, HGTV, ID and TLC, among others.
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