Summary by Moomoo AI
FuboTV Inc. reported strong financial results for fiscal year 2024, with total revenue increasing 19% to $1.62 billion, driven by North American subscriber growth and higher subscription pricing. Subscription revenue grew 20% to $1.50 billion while advertising revenue remained stable at $115.2 million. The company ended the year with approximately 1.7 million paid subscribers in North America and 362,000 in Rest of World markets.Operating loss narrowed to $196.0 million from $289.4 million in 2023, reflecting improved operational efficiency and gross margin expansion to 12.6% from 6.3%. Subscriber-related expenses increased 12% to $1.36 billion, while the company reduced broadcasting and transmission costs by 16% through cloud infrastructure optimization initiatives.In January 2025, FuboTV announced a transformative business combination agreement with Disney's Hulu, where Hulu will contribute its Live TV assets to a new joint entity owned 70% by Hulu and 30% by Fubo. The company also secured a $220 million settlement payment from Disney, Fox and Warner Bros. Discovery related to antitrust litigation, and obtained a $145 million term loan commitment to strengthen its financial position.
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