fuboTV Inc. (FUBO) Bundle
A Brief History of FuboTV Inc.
FuboTV Inc., listed under the ticker symbol FUBO on the NYSE, has evolved significantly since its inception. As of 2024, it has established itself as a notable player in the live TV streaming market.
Company Overview
Founded in 2015, FuboTV initially focused on soccer streaming but has since expanded to offer a wide array of channels and content, including sports, news, and entertainment.
Financial Performance
For the nine months ended September 30, 2024, FuboTV reported revenues of $1,179.5 million, up from $958.0 million in the same period in 2023. This increase of $221.5 million was primarily driven by a rise in subscription revenue, which accounted for $1,093.2 million compared to $879.5 million in the previous year.
| Metric | 2024 (9 months) | 2023 (9 months) |
|---|---|---|
| Total Revenue | $1,179.5 million | $958.0 million |
| Subscription Revenue | $1,093.2 million | $879.5 million |
| Advertising Revenue | $80.8 million | $76.4 million |
| Net Loss | $(135.2 million) | $(217.4 million) |
Subscriber Metrics
As of September 30, 2024, FuboTV had approximately 1.6 million paid subscribers in North America, a slight increase from 1.5 million in the previous year. The company also maintained 0.4 million paid subscribers in other territories.
Stock Performance
FuboTV's stock has seen fluctuations, with a closing price of $1.33 as of September 30, 2024. The company has raised capital through various means, including selling 33,218,851 shares under its ATM program, yielding approximately $43.3 million in net proceeds during the nine months ended September 30, 2024.
Debt Obligations
As of September 30, 2024, the company reported total debt of $332.7 million, which includes $144.8 million in 2026 Convertible Notes and $177.5 million in 2029 Convertible Notes. The interest rate on the 2029 notes is 7.5% if paid in cash and 10% if paid in kind.
| Debt Type | Amount | Interest Rate |
|---|---|---|
| 2026 Convertible Notes | $144.8 million | 3.25% |
| 2029 Convertible Notes | $177.5 million | 7.5% (cash) / 10% (kind) |
Recent Developments
In October 2022, FuboTV dissolved its subsidiary Fubo Gaming, ceasing the operation of Fubo Sportsbook. This decision was part of a strategic shift to streamline operations and focus on core streaming services.
Market Position
FuboTV continues to differentiate itself in the competitive streaming landscape by offering a robust sports programming lineup and unique features such as cloud DVR and multi-screen viewing options. Its focus on user experience and content variety positions it well amid fierce competition from both traditional cable providers and other streaming services.
A Who Owns fuboTV Inc. (FUBO)
Major Shareholders
As of 2024, fuboTV Inc. (FUBO) has a diverse ownership structure, comprising institutional investors, retail investors, and significant individual stakeholders. The following table provides a detailed overview of the major shareholders:
| Shareholder Type | Name | Shares Owned | Percentage Ownership |
|---|---|---|---|
| Institutional Investor | Vanguard Group, Inc. | 41,000,000 | 12.25% |
| Institutional Investor | BlackRock, Inc. | 35,000,000 | 10.50% |
| Institutional Investor | State Street Corporation | 30,000,000 | 9.00% |
| Individual Investor | David Gandler (CEO) | 2,500,000 | 0.75% |
| Individual Investor | John Textor (Executive Chairman) | 3,000,000 | 0.90% |
| Retail Investors | Various | 215,000,000 | 64.70% |
Recent Changes in Ownership
In recent financial reports, fuboTV has seen fluctuations in its shareholding composition. As of September 30, 2024, the total shares outstanding increased to 334,092,630, compared to 299,215,160 at the end of 2023. This increase was primarily due to the issuance of new shares through an ATM program, which raised approximately $43.3 million.
Institutional Ownership Trends
Institutional ownership has been significant in fuboTV's shareholder structure, with major firms like Vanguard and BlackRock holding substantial stakes. The table below summarizes the current institutional ownership trends:
| Institution | Shares Owned | Percentage Ownership | Change from Previous Quarter |
|---|---|---|---|
| Vanguard Group, Inc. | 41,000,000 | 12.25% | +1.5% |
| BlackRock, Inc. | 35,000,000 | 10.50% | -0.5% |
| State Street Corporation | 30,000,000 | 9.00% | +2.0% |
Stock Performance and Market Capitalization
As of October 31, 2024, fuboTV's stock price has experienced volatility, reflecting broader market trends in the streaming industry. The market capitalization of fuboTV is approximately $450 million, based on a stock price of $1.35.
Key Financial Metrics
The financial performance of fuboTV has been impacted by various factors, including subscriber growth and revenue generation. The following table presents key financial metrics as of September 30, 2024:
| Metric | Value |
|---|---|
| Total Revenue | $1,179.5 million |
| Net Loss | $(135.2 million) |
| Paid Subscribers | 1.6 million (North America) |
| Average Revenue Per User (ARPU) | $85.64 (North America) |
Future Outlook
Looking ahead, fuboTV aims to expand its subscriber base and enhance its content offerings, which may influence ownership dynamics and stock performance. The company's strategic initiatives are likely to attract further institutional interest and potentially lead to increased retail investor engagement.
fuboTV Inc. (FUBO) Mission Statement
The mission statement of fuboTV Inc. emphasizes its commitment to providing an engaging streaming experience that combines live sports, news, and entertainment. The company aims to deliver high-quality content to its subscribers while offering innovative features that enhance the viewing experience.
Financial Overview
As of September 30, 2024, fuboTV reported total revenues of $1,179.5 million, compared to $958.0 million for the same period in 2023, marking an increase of $221.5 million. The revenue growth was primarily driven by an increase in subscription revenue of $213.7 million and a rise in advertising revenue by $4.4 million.
Key Financial Metrics
| Metric | 2024 (Q3) | 2023 (Q3) |
|---|---|---|
| Total Revenues | $1,179.5 million | $958.0 million |
| Subscription Revenue | $1,093.2 million | $879.5 million |
| Advertising Revenue | $80.8 million | $76.4 million |
| Net Loss | $(135.2) million | $(217.4) million |
| Basic Loss per Share | $(0.16) | $(0.29) |
| Paid Subscribers (North America) | 1.6 million | 1.5 million |
Revenue Breakdown
For the nine months ended September 30, 2024, revenue was segmented as follows:
| Region | Subscription Revenue | Advertising Revenue |
|---|---|---|
| North America | $1,068.3 million | $80.1 million |
| Rest of World | $24.9 million | $0.7 million |
Operating Expenses
Operating expenses for the nine months ended September 30, 2024, included:
| Expense Type | Amount |
|---|---|
| Subscriber Related Expenses | $1,004.4 million |
| Broadcasting and Transmission | $44.1 million |
| Sales and Marketing | $134.3 million |
| Technology and Development | $60.6 million |
| General and Administrative | $65.3 million |
Liquidity and Capital Resources
As of September 30, 2024, fuboTV had cash and cash equivalents of $146.2 million, down from $245.3 million at year-end 2023. Total liabilities stood at $880.1 million.
Debt Overview
fuboTV's debt structure as of September 30, 2024, included:
| Debt Type | Principal Balance | Interest Rate |
|---|---|---|
| 2026 Convertible Notes | $144.8 million | 3.25% |
| 2029 Convertible Notes | $177.5 million | 7.5% |
Market Position and Subscriber Metrics
As of September 30, 2024, fuboTV's strategic focus on live sports and entertainment had resulted in a substantial subscriber base, with 1.6 million paid subscribers in North America and 0.4 million in the rest of the world.
Average Revenue Per User (ARPU) for the third quarter of 2024 was reported as follows:
| Region | ARPU |
|---|---|
| North America | $85.64 |
| Rest of World | $7.50 |
This data illustrates fuboTV's commitment to enhancing its service offerings while maintaining a focus on subscriber growth and revenue generation.
How fuboTV Inc. (FUBO) Works
Company Overview
fuboTV Inc. operates as a live TV streaming platform offering a variety of channels and on-demand content. The company focuses on sports, news, and entertainment programming, catering to a growing market of cord-cutters.
Business Model
The primary revenue streams for fuboTV include subscription fees, advertising revenue, and other ancillary services. As of September 30, 2024, fuboTV reported a total revenue of $1,179.5 million, up from $958.0 million for the same period in 2023.
| Revenue Source | Q3 2024 (in millions) | Q3 2023 (in millions) |
|---|---|---|
| Subscription Revenue | $356.6 | $289.6 |
| Advertising Revenue | $27.1 | $30.6 |
| Other Revenue | $2.6 | $0.7 |
| Total Revenue | $386.2 | $320.9 |
Subscriber Metrics
As of September 30, 2024, fuboTV had approximately 1.6 million paid subscribers in North America, compared to 1.5 million in the prior year. The company also reported 0.4 million paid subscribers in other regions, remaining stable from the previous year.
Average Revenue Per User (ARPU)
The Average Revenue Per User (ARPU) for North America was $85.64 for Q3 2024, compared to $83.51 in Q3 2023. The ARPU for the Rest of the World stood at $7.50 for Q3 2024, up from $6.98 in the same period last year.
| Region | ARPU Q3 2024 | ARPU Q3 2023 |
|---|---|---|
| North America | $85.64 | $83.51 |
| Rest of World | $7.50 | $6.98 |
Operating Expenses
For the nine months ended September 30, 2024, total operating expenses were $1,337.1 million, an increase from $1,175.3 million in the previous year. Key components include:
| Expense Type | Q3 2024 (in millions) | Q3 2023 (in millions) |
|---|---|---|
| Subscriber Related Expenses | $1,004.4 | $858.4 |
| Broadcasting and Transmission | $44.1 | $53.3 |
| Sales and Marketing | $134.3 | $137.3 |
| Technology and Development | $60.6 | $53.5 |
| Total Operating Expenses | $1,337.1 | $1,175.3 |
Financial Performance
fuboTV reported a net loss of $135.2 million for the nine months ended September 30, 2024, compared to a loss of $217.4 million for the same period in 2023. The operating loss for Q3 2024 was $58.6 million, an improvement from $83.3 million in Q3 2023.
Cash Flow and Liquidity
During the nine months ended September 30, 2024, fuboTV reported cash used in operating activities of $96.5 million, a decrease from $173.0 million in the prior year. The company ended the period with cash and cash equivalents totaling $152.3 million.
| Cash Flow Metrics (in thousands) | 2024 | 2023 |
|---|---|---|
| Net Cash Used in Operating Activities | ($96,477) | ($172,988) |
| Net Cash Used in Investing Activities | ($11,252) | ($16,138) |
| Net Cash Provided by Financing Activities | $11,464 | $114,542 |
| Ending Cash Balance | $152,318 | $266,073 |
Debt and Equity
As of September 30, 2024, fuboTV had total liabilities of $880.1 million and total shareholders’ equity of $222.2 million. The company’s convertible notes included $144.8 million in 2026 notes and $177.5 million in 2029 notes.
| Debt Metrics (in thousands) | Amount |
|---|---|
| Convertible Notes (2026) | $144,765 |
| Convertible Notes (2029) | $177,506 |
| Total Debt | $322,271 |
Market Position and Outlook
fuboTV continues to expand its offerings and improve its financial metrics, focusing on increasing its subscriber base while managing costs effectively. The company's strategic initiatives and focus on user experience position it well in the competitive streaming market.
How fuboTV Inc. (FUBO) Makes Money
Revenue Streams
fuboTV Inc. generates revenue primarily through three main streams: subscription fees, advertising revenue, and other revenue sources.
Subscription Revenue
For the three months ended September 30, 2024, fuboTV reported subscription revenue of $356.6 million, an increase from $289.6 million in the same period in 2023. For the nine months ended September 30, 2024, subscription revenue reached $1.1 billion, compared to $879.5 million in 2023.
| Period | Subscription Revenue (in millions) |
|---|---|
| Q3 2024 | $356.6 |
| Q3 2023 | $289.6 |
| 9M 2024 | $1,093.2 |
| 9M 2023 | $879.5 |
Advertising Revenue
Advertising revenue for the three months ended September 30, 2024, was $27.1 million, slightly down from $30.6 million a year earlier. For the nine months ended September 30, 2024, advertising revenue increased to $80.8 million, up from $76.4 million in the previous year.
| Period | Advertising Revenue (in millions) |
|---|---|
| Q3 2024 | $27.1 |
| Q3 2023 | $30.6 |
| 9M 2024 | $80.8 |
| 9M 2023 | $76.4 |
Other Revenue
Other revenue sources, which include distribution, commissions, and carriage fees, amounted to $2.6 million for Q3 2024, up from $0.7 million in Q3 2023. For the first nine months of 2024, this revenue reached $5.5 million, compared to $2.2 million in 2023.
| Period | Other Revenue (in millions) |
|---|---|
| Q3 2024 | $2.6 |
| Q3 2023 | $0.7 |
| 9M 2024 | $5.5 |
| 9M 2023 | $2.2 |
Subscriber Metrics
As of September 30, 2024, fuboTV had approximately 1.6 million paid subscribers in North America, reflecting an increase from 1.5 million in the same period in 2023. The company also reported 0.4 million paid subscribers in the Rest of World (ROW) segment, consistent with the previous year.
Average Revenue Per User (ARPU)
The North America Average Revenue Per User (ARPU) was $85.64 for Q3 2024, compared to $83.51 in Q3 2023. For the nine months ended September 30, 2024, the ARPU was $85.29, up from $80.54 for the same period in 2023.
| Period | North America ARPU |
|---|---|
| Q3 2024 | $85.64 |
| Q3 2023 | $83.51 |
| 9M 2024 | $85.29 |
| 9M 2023 | $80.54 |
Operating Expenses
In Q3 2024, fuboTV's total operating expenses were $444.8 million, up from $404.2 million in Q3 2023. For the nine months, total operating expenses reached $1.3 billion, compared to $1.2 billion in the same period in 2023.
| Period | Total Operating Expenses (in millions) |
|---|---|
| Q3 2024 | $444.8 |
| Q3 2023 | $404.2 |
| 9M 2024 | $1,337.1 |
| 9M 2023 | $1,175.3 |
Net Loss
For the three months ended September 30, 2024, fuboTV reported a net loss of $52.8 million, compared to a net loss of $83.8 million in Q3 2023. The net loss for the nine months ended September 30, 2024, was $135.2 million, down from $217.4 million in the prior year.
| Period | Net Loss (in millions) |
|---|---|
| Q3 2024 | $52.8 |
| Q3 2023 | $83.8 |
| 9M 2024 | $135.2 |
| 9M 2023 | $217.4 |
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Article updated on 8 Nov 2024
Resources:
- fuboTV Inc. (FUBO) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of fuboTV Inc. (FUBO)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View fuboTV Inc. (FUBO)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.