![]() ![]() Part of that unprofitable business model focuses squarely on live sports, which was leveraged early on as a way for Fubo TV to differentiate itself from other streaming cable television alternatives on the market. “ love how management is talking about how well-positioned they are, and the company’s great future, while they are selling stock in a distressed situation for sub-$2 per share to stay afloat with an unprofitable model.” ![]() “Desperately trying to stay alive - why do retail investors continue to give them cash?” Rich Greenfield of LightShed Partners tweeted during the company’s quarterly earnings call in late February. While Fubo TV has added subscribers over the last few months - it currently has over 1 million customers willing to pay more than $75 a month for the service, or over $85 a month if they receive one or more regional sports networks - investors are skeptical that the company has a solid, long-term business strategy. ![]() But concerns over outsized spending, a weakening advertising market, high content licensing costs and increased competition in the streaming space has cooled expectations for Fubo TV, with its stock price tumbling 34 percent since the start of 2023 and 85 percent over the last 12 months. Nearly two years ago, Fubo TV was trading north of $48 a share. The milestone continued a monumental downturn for Fubo TV after it attracted sizable attention among social media users during the coronavirus pandemic a few years ago, a time when the company enjoyed status as a so-called “meme stock” that saw unwarranted gains at GameStop, AMC Theaters and other organizations. The per-share price of streaming television service Fubo TV dipped below $1 for the first time in the company’s history on Monday, a sign that investors continue to express skepticism over the long-term viability of the sports-centric media brand. (Photo via LinkedIn, Graphic by The Desk) The logo of Fubo TV appears on the marquee outside the Times Square studios of ABC television in New York City. ![]()
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