Revenue and subscriber growth for Fubo’s global streaming business was strong during the quarter, with North America (NA) revenue and subscriber growth coming in ahead of forecast. FuboTV closed the quarter with $219.2 million in revenue for NA, an increase of 40% year-over-year, while ad revenue was $22.5 million, up 21% year-over year. NA paid subscribers reached a record high of 1,231,000, an increase of 31% year-over-year.
In the Rest of World (ROW), the company delivered $5.8 million in revenue and 358,000 total paid subscribers. ROW includes Molotov, the French live TV streaming service acquired by FuboTV in December 2021.
FuboTV ended the quarter with $307.4 million in cash and cash equivalents, restricted cash and short-term investments, and is confident in its current liquidity position. Additionally, FuboTV achieved a sequential improvement in Operating Cash Flow and year-over-year improvement in Adjusted EBITDA (AEBITDA) Margin.
Fubo TV CEO explains FAST channel rationale in an interview with FierceVideo well worth a read. See fiercevideo.com.