Right. So, FuboTV. It sank today. Not dramatically, more of a slow, disheartening seep downwards – 10.6% at one point, settling at a 3.6% decline by the time I’d finished my third cup of tea. Honestly, it felt symbolic. The tea, not the stock. Though maybe both. It’s just… everything feels a bit precarious at the moment. Like a Jenga tower built on hope and streaming subscriptions.
They announced a 1-for-12 reverse stock split. Which, let’s be honest, never sounds good. It’s like admitting your trousers no longer fit and needing to buy a smaller size. It’s supposed to keep the share price above a certain level – a sort of financial dignity thing – and attract investors who wouldn’t dream of touching anything below a certain price. Apparently. It feels a bit like rearranging the deckchairs on the Titanic, doesn’t it? Trying to make things look better when the fundamental problem is, well, everything.
But… could it actually be a deep value play? That’s what I keep telling myself, anyway. To justify the fact that I may have, perhaps, invested a small amount. Small. Relatively. It’s just, the numbers… they could be good. I’ve been staring at charts for hours. Hours. It’s affecting my sleep. And my social life. (What social life? Good question.)
Fubo: The Streaming “Stub” (and My Growing Anxiety)
So, back in October, Disney and Fubo did a deal. Fubo merged its sports-y bit with Disney’s Hulu+ Live TV. Disney now owns 70%, Fubo shareholders the remaining 30%. It’s like a slightly awkward marriage. Everyone pretends it’s working, but you suspect there’s a lot of passive-aggressive channel surfing going on. The combined entity reported decent numbers in February – revenue up 6%, beating expectations. Which is… good. Definitely good. But then you look closer.
Having a 30% “stub” of a streaming service doesn’t feel particularly empowering, does it? Like being the spare wheel on a very fast car. And while revenue was up year-over-year, it was probably down to price increases. Sneaky. North American subscribers fell from 6.3 million to 6.2 million. International subscribers dropped from 362,000 to 335,000. It’s like watching your friends slowly unsubscribe from your life. One by one.
Could Fubo Actually Be a Value? (Or Am I Just Delusional?)
Okay, deep breaths. After a significant decline, Fubo’s market cap is now a mere $360 million. That sounds cheap. The combined company generated $6.2 billion in revenue and $78 million in adjusted EBITDA over the past 12 months. 30% of that would be $1.86 billion and $23.4 million. Which means Fubo is trading at roughly 15.4 times EBITDA and 0.2 times sales. It’s… numbers. Lots of numbers. I need a lie down.
At that price-to-sales ratio, even small improvements in EBITDA margins could make a big difference. So, Fubo could be a deep-value pick. For higher-risk investors. Like me. The question is, will people keep paying for streaming sports? It’s already expensive. According to TMF Research, people are cutting back on streaming services – confusion, competition, skyrocketing bills. Live sports is apparently a big casualty. Which is… worrying. Very worrying.
Units of Cryptocurrency Lost: 12. Hours Spent Watching Charts: 9. Number of Panicked Texts to Friends: 24. Will become disciplined long-term investor. (This is a lie.)
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2026-03-23 21:42