Fubo, the sports-focused streaming service, has unveiled its first-quarter financial results, showcasing a dynamic period marked by a significant merger and evolving subscriber figures. The company reported a total of 6.2 million North American subscribers at the close of the quarter, a marginal dip from the 6.3 million recorded in the prior year. This report comes on the heels of Fubo's completed merger with Disney's Hulu + Live TV, a strategic move aimed at bolstering its market position. Financially, Fubo demonstrated robust growth, with its overall revenue surging by 40% to $1.55 billion. On a pro forma basis, which accounts for the Hulu merger, first-quarter revenue saw a 6% year-over-year increase, reaching an impressive $1.68 billion. The company also made strides in narrowing its net loss, reflecting improved operational efficiency.
During the most recent quarter, Fubo significantly reduced its net loss to $19.1 million, a substantial improvement compared to the $38.6 million loss reported in the same period last year. On a pro forma basis, the net loss further decreased to $46.4 million, a considerable reduction from $130.4 million year-over-year. This positive financial shift was also evident in its adjusted EBITDA, which, on a pro forma basis, climbed to $41.4 million from $22 million in the previous year. These figures underscore Fubo's enhanced financial health and operational performance following its strategic consolidation efforts.
Following the successful integration of Disney's Hulu + Live TV, Fubo has also forged a reseller and marketing partnership with ESPN. This collaboration aims to broaden the reach and impact of Fubo's streaming platform, pending the finalization of definitive agreements. This alliance is expected to create new opportunities for subscriber engagement and content distribution, leveraging ESPN's extensive sports content.
David Gandler, co-founder and CEO of Fubo, emphasized the transformative nature of the past year in his statement accompanying the financial results. He highlighted 2025 as a pivotal year, marked by the monumental business combination with Hulu + Live TV. Gandler reiterated Fubo's unwavering commitment to enhancing consumer choice and expanding programming flexibility by leveraging the collective strengths of its merged entities. The company remains dedicated to delivering exceptional value and diverse choices across its primary Fubo and Hulu + Live TV platforms.
The strategic merger with Disney's Hulu + Live TV, coupled with the new partnership with ESPN, positions Fubo for continued growth and innovation in the competitive streaming landscape. The company's focus on operational efficiency and subscriber satisfaction, as articulated by its CEO, will be key to its future success. With a solid foundation established through strategic alliances and improved financial performance, Fubo is poised to further consolidate its standing as a leading sports-first streaming service, offering an enriched viewing experience to its growing audience.