We’re pleased with this expected performance, and our progress toward achieving our positive cash flow target in 2025.”

“We expect to deliver strong revenue and subscriber growth in Q3, exceeding our previously issued guidance in North America, against the backdrop of a highly competitive operating environment. “FuboTV’s strong preliminary third quarter 2022 results reflect meaningful advancements against our continued mission to profitably scale a leading global live TV streaming platform differentiated by the greatest breadth of premium content and interactivity,” said FuboTV Co-Founder and CEO David Gandler. Paid subscribers in North America are expected to exceed 1,220,000, up 27% year-over-year, with Rest of World paid subscribers expected to reach approximately 350,000. The group expects to post approximately negative $100m of adjusted EBITDA for the period, with its balance of cash and cash equivalents at the end of the quarter expected to be at least $300m. Rest of World revenue is expected to be at least $5.5m, which includes Molotov, the French live TV streaming service acquired by FuboTV in December 2021. The news also comes amid Fubo’s preliminary third quarter 2022 results, with the company expecting to close the period with North American revenue of at least $210m, a 34% increase from the prior-year period. The decision follows a strategic review of the Fubo Gaming business, with the group explaining that while multiple parties expressed interest in the business, none of the opportunities presented would have allowed the company to lower its funding requirements and generate sufficient returns to shareholders.

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