fuboTV Inc. (NYSE:FUBO) Q4 2022 Earnings Call Transcript

Jim Goss: Okay. And secondly, with the difficult World Cup comp, is there any way to carve out like subscriber attribution for that particular aspect to that I guess it was a little bit implied in some of the normalization of the changes year-over-year and quarter-to-quarter. But how many do you think doing more for that than anything else?

David Gandler: I don’t know if we have an exact number. I would say that again, there were several things that were happening in the fourth quarter. We had a strong NFL and to the season for us. By the way, it’s not impacted at all by Thursday Night Football either, which really speaks to the power of the platform. I would say that €“ look, it’s tough to say right now because so many of our €“ I think let me put it this way. When I think back to the 2018 spring cohort €“ no, for the 2018 World Cup, I can tell you that the churn level based on the first few weeks was significantly higher in 2018 versus 2022. The second thing I will say is that the types of customers that came in, in €˜18, came in only to watch the World Cup.

What we are seeing is probably what I am feeling a little bit more comfortable with our initial Q1 retention numbers is that these World Cup customers are actually watching other programming as well. So, this is a new territory for us. And so we are just kind of, again, being a bit conservative. I would say it’s probably in the, I would say, maybe low to mid-teens maybe in terms of that cohort. That’s just a clean, I would say, World Cup cohort, but clearly, it drove strong growth particularly in the beginning of the World Cup. So, those users typically stay on longer than the ones that just come in for the final. So again, tough to actually quantify at the moment.

John Janedis: Yes. Jim, maybe I can help a little bit more with that. And I think it may be too soon to know. What we had the team look at was the number of subscribers that actually watched more than a certain number of hours in the World Cup. And I think it’s too soon to know how many of those have turned off yet because they may not turn off for a while they may not run at all. To David’s point, in terms of that double-digit number, I think in terms of the €“ as a percentage of sub growth for the fourth quarter, it was probably somewhere in the low to mid tens of thousands.

Operator: And I will now turn the call over to Ms. Alison Sternberg.

Alison Sternberg: Thank you, operator. As part of today’s Q&A session, we have partnered with Say Technologies for the first time in order to open up a new shareholder Q&A platform. And this allows all of our shareholders to submit an up-votes questions to management. We elected to use this platform because we really wanted to make sure that all of our shareholders have a voice and are empowered to engage with us. So, we decided to focus on answering a handful of questions that were top ranked on the platform. And David, I am going to direct these to you. Our first question that got a lot of up-votes was the following, where do you see the future of FUBO going?

David Gandler: Well, it’s a very broad question. Look, I think that there are two very strong trends here. One is that we are continuing to experience the secular decline of traditional television and FUBO continues to take a disproportionate share of customers in a very competitive field. And again, hitting that $1 billion revenue milestone, coupled with $100 million of advertising sales, these are really strong numbers. We are very confident about the future. Our product, again, is probably, I would say, one of the best products in the world relative to what I have personally used and tested. And we are continuing to really improve that, both with our team in France as well as our team in the U.S. And our newest team, which is the team of Edison AI, which is now Fubo India, which is continuing to innovate around the products to really deliver an interactive experience and provide users with some really strong metadata to be able to discover content in better ways to be able to interact on a sort of play-by-play basis versus on a per game basis.