Disney Takes Controlling Interest in Fubo

Key Takeaways:

• As consumers become increasingly inundated with content from multiple sources, all of which are competing for their finite attention and time, there has been a pullback in US mobile engagement on short-form video, social media and streaming platforms. Per ST data, total mobile app user time spent on these platforms declined 4% YoY in 4Q24, with the sharpest declines registered on socials (-8%) and streaming platforms (-3%)

• Gauging user loyalty and retention on SVOD platforms has become critical to evaluating the space. Per ST data, Netflix leads in user retention as it’s the stickiest service provider in the SVOD space. Roughly 13% of app users returned to Netflix at least 15 days or more per month in 4Q24, nearly double that of Hulu (7%), Disney+ (6%), Peacock (6%), Max (6%), Prime Video (5%) and Paramount+ (3%)

• Live sports has become a material driver of consumer adoption of streaming apps. Except for Max, which saw sequential user growth in 4Q24 propelled by recent international launches, Fubo led its streaming video peers in MAU growth, up 10% QoQ

  • ST data shows that US app WAUs and downloads for Netflix soared 34% and 71% WoW, respectively, during the week of the Jake Paul vs Mike Tyson fight, as consumers flocked to the platform to stream the live event, marking the largest weekly swing in US app WAUs and downloads from 2020-forward

• Per ST Audience Insights data, 33% of US Fubo app users in 4Q24 used Hulu. Furthermore, 32% and 22% of US Fubo app users in the same period also used Disney+ and Max, respectively. High levels of Hulu, Disney+ and Max app usage amongst Fubo users indicates that the launch of streaming bundle deals could be successful

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