US sports-centric streaming television service FuboTV secured revenues of $386 million during the third quarter of 2024, exceeding expectations.
The service’s Q3 financial results, unveiled today, show that it also reduced its net loss during the three months up to September 30, with that figure now coming to $54.7 million, down from $84.4 million during Q3 of 2023.
The streamer also saw a 6% increase in subscribers during the three months, with that total (at the end of September) amounting to 1.99 million.
David Gandler, chief executive at Fubo, commented on the results: “We continue to be encouraged by a quickly maturing streaming market and our ability to deliver on consumer needs."
Gandler also commented on the Fubo lawsuit against the joint Venu sports vehicle, a joint venture formed to house the collective sports rights of the Fox Corp, Warner Bros. Discovery (WBD), and Disney media giants.
With a trial set for October next year, Gandler has now said: “We are confident in the merits of our claims and believe the preliminary injunction will remain in place despite the defendant's pending appeal.”
In August, Fubo won a preliminary injunction against the OTT streamer that delays, if not cancels, its launch.
Fubo filed its original lawsuit against the three joint venture partners in February, seeking the blocking of Venu Sports, restrictions on the trio such as economic parity of licensing terms, and “substantial monetary damages."
Full-year sales for 2024 are predicted by Fubo to earn around $1.9 billion, meanwhile.
Late last month, Fubo announced the launch of a set of standalone premium subscription services, enabling its customers to subscribe to select live and on-demand content without a base Fubo channel plan.
FanDuel Sports Network (formerly Bally Sports Network), NBA League Pass, and Paramount+ With Showtime will be the first networks offered to customers as standalone subscriptions.
