FuboTV Inc. Class A

earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you'd like to ask a question during this time, simply press star followed by the number one on your telephone keypad. And if you'd like to withdraw your question, press star one again. Thank you. I'd now like to turn the call over to Amit Pate, Senior Vice President of FP&A Corporate Development and Investor Relations.

Amit, please go ahead. Thank you for joining us to discuss Fubo's fourth quarter and full year 2024 results. With me today is David Gandler, co-founder and CEO of Fubo, and John Janidis, CFO of Fubo. Full details of our results and additional management commentary are available in our earnings release and letter to shareholders, which can be found on the investor relations section of our website at ir.fubo.tv. Before we begin, let me quickly review the format of today's call. David will start with some brief remarks on the quarter and our business, and John will cover the financials and guidance. Then we will turn the call over to the analysts for Q&A. I would like to remind everyone that the following discussion may contain forward-looking statements within the meaning of the federal securities laws, including, but not limited to, statements regarding our financial condition, anticipated financial performance, business strategy and plans, including our pending business combination, industry and consumer trends, and expectations regarding growth and profitability. These forward-looking statements are subject to certain risks, uncertainties, and assumptions. Important factors that could cause actual results to differ materially from forward-looking statements are discussed in our SEC filings, except as otherwise noted, The results and guidance we are presenting today are on a continuing operations basis, excluding the historical results of our former gaming segments, which are accounted for as discontinued operations. During the call, we may also refer to certain non-GAAP financial measures. Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are also available in our Q4 2024 earnings show letter, which is available on our website at ir.google.tv. Please note as well that during Q&A, the company will not provide any information related to the business combination with Hulu plus live TV and ongoing regulatory matters beyond what we have already shared. With that, I will turn the call over to David.

Thank you, Amit, and good morning, everyone. We appreciate you joining us today to discuss Fubo's fourth quarter and full year 2024 results. 2024 was a record year for the company. We delivered double-digit revenue growth in North America, closing the year just shy of $1.6 billion in total revenue, up 19% year over year. Paid subscribers in the region hit 1,676,000, up 4% year over year. Both full-year metrics were all-time highs and in line with our guidance. In the fourth quarter, total revenue in North America was approximately $434 million, up 8% year over year, also in line with guidance. We delivered a record $87.90 of average revenue per user in the fourth quarter, marking an expansion of 1.4% year over year. As we continue to drive towards our 2025 profitability goal, we improved full year adjusted EBITDA and free cash flow by over $100 million for the second consecutive year. These results reflect our team's focused execution amidst an industry in disruption. Continuing with our strong operating performance into the new year, we have also fostered a more competitive environment, one that benefits the consumer. In early January, we announced a definitive agreement with the Walt Disney Company to combine Hulu plus live TV and Fubo. Under the combination, both Fubo and Hulu plus live TV will operate as separate and distinct consumer brands under Fubo, which will continue to trade on the NYSE. Fubo's existing management team will continue to lead the company and I will remain CEO. This combination will make Fubo the sixth largest player in the pay TV space by subscribers, behind larger players like Comcast, Charter, DirecTV, YouTube TV, and Dish Sling. As a result, we anticipate the ability to offer more competitive offerings at more competitive price points. We are making significant progress on our plan to provide consumers with greater choice, offering multiple flexible options that enable them to tailor their streaming experience to their needs. These include Fubo, our existing sports-focused bundle where consumers come for the sports but stay for the entertainment, Hulu plus live TV, an entertainment-focused bundle, and a forthcoming entirely new sports and broadcasting service. This new sports and broadcasting service will feature a robust lineup of their favorite pro and college sports. We intend to launch this service for the fall sports season and it is independent of the Hulu Plus live TV transaction. Fubo has always envisioned a fair streaming marketplace with the consumer at its core. We are excited to have helped lead an industry shift to more consumer-friendly skinny sports bundles. This was most recently demonstrated by Comcast and DirecTV's new sports-focused content offering. Our forthcoming skinny sports and broadcasting service will offer even more consumer-friendly bundles. In a competitive industry, as we have consistently asserted, the consumer always wins. Fubo is not limiting skinny bundles only to sports programming. Sports is a unifier across our diverse country, and we want to ensure we supplement this content with other types of focused programming that appeal to many different communities. To that end, last week, we launched a Z family bundle of 18 linear channels serving the South Asian demographic. Z family can be purchased as a standalone bundle or as an add-on to one of our more robust channel plans. We believe multicultural programming can be a strong growth segment for us, and we plan to launch additional bundles this year. These standalone smaller bundles fit our super aggregation strategy of delivering multiple and flexible streaming packages at every point along the demand curve, from free to skinny to the full content bundle. These tiers must be appropriately priced and deliver value to our subscribers. That is why we will only enter into content distribution agreements with programmers when it makes sense for our subscribers. The decision not to renew our longstanding agreement with Univision was the only choice based on the significant rate increases Univision demanded, costs that would have been passed on to our subscribers. Instead, we are taking a different approach. We lowered the price of our Latino plan by 55% to deliver greater value to our customers. This is the first time we are aware that any streaming service has shared with consumers cost savings beyond temporary credits. Moving forward, we plan to replace Univision programming over time with other high quality sports content that better aligns with our commitment to flexibility and affordability. In closing, 2024 was a pivotal year for Fubo, marked by strong revenue and overall subscriber growth, along with meaningful improvements to our bottom line. We could not be more excited for the many opportunities ahead. We believe the opportunity to create a more competitive player in the pay TV market combined with a secular streaming tailwind could position us to drive significant value for all our stakeholders, consumers, media partners, and shareholders alike. We look forward to keeping you updated on our latest developments. I will now turn the call over to John Giannidis CFO to discuss our financial results in greater detail. John.