FuboTV's subscribers go up amid strong Q2 2022 results

FuboTV has released the second-quarter results for 2022 with the company reporting 946,735 active paid subscribers at the end of the period for the United States and Canadian markets. The company saw improvement across the board, with the streaming business increasing by double digits, up 65% to $216.1m.

Ad revenue also improved significantly over the period, up 32% to $21.7m. These targets far exceeded FuboTV’s original forecasts, but they are in line with the company’s growth trajectory observed in the past several quarters. The player acquisition has been a big part of FuboTV’s strategy since Q1 of this year, and it is likely to remain so in the coming months.

Outside of North America, the company saw another big increase in paid subscribers. France and Spain collectively referred to as "Rest of World" in the report, had 347,000 paid subscribers at the end of the period. Revenue generated from this aggregate market amounted to $5.8 million, much lower than the North American results, but still an important precursor to future growth potential.

FuboTV also reported that it’s in a very strong position financially, citing $378.8m in cash and short-term investment assets, which means that the company can withstand financial shocks. No such shocks are expected, though, as FuboTV is ambitiously moving forward to secure more subscribers as it delivers on its innovative sports content.

A big selling point for the company has been its ability to turn passive viewers into active ones. The company features broadcasts filled with detailed information about players, teams, and even free-to-play games, which can then refer viewers to a real money sportsbook where they can place a wager on a live game or bet on future contests.

David Gandler, CEO and Co-founder at FuboTV, welcomed these strong results and said that both operating Cash Flow and AEBITDA have improved over the period. He was joined by FuboTV executive chairman Edgar Bronfman Jr. who added that the company will continue to vie for a position as one of the world’s leading global live TV streaming platforms.

A big part of this ambition revolves around the "interactivity" tenet shared by FuboTV executives who are eager to see the company continue to activate sports fans who may experience sports betting in a new and exciting way. With this momentum on its heels, FuboTV is in all likelihood heading to its strongest year to date.

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