Can Fubo Survive the Double Blackout? Missing NBCUniversal and Warner Bros. Discovery Networks Tests The Streaming Service’s Resilience
As the holiday season approaches, sports enthusiasts and news junkies alike are grappling with a stark reality on their streaming devices: Fubo, the self-proclaimed sports-first platform, has now lost many key networks from NBCUniversal and Warner Bros. Discovery. More than three weeks into the NBCUniversal blackout that began on November 21, and over a year and a half since Warner Bros. Discovery channels vanished in First in 2025 and again in April 2024, Fubo faces an existential question. Can it retain subscribers in a crowded market where competitors offer fuller lineups at comparable prices?
The NBCUniversal dispute erupted when contract renewal talks collapsed, leading to the abrupt removal of dozens of channels. Local NBC affiliates, essential for NFL Sunday Night Football and college bowl games, disappeared overnight, depriving viewers of marquee events like the Tampa Bay Buccaneers versus Los Angeles Rams matchup. National staples such as USA Network, Bravo, MSNBC—rebranded as MS Now in a nod to its evolving digital focus—and CNBC followed suit, alongside niche offerings like the Golf Channel and nine regional sports networks (RSNs) under NBC Sports. For sports fans, this means no access to Premier League soccer broadcasts, including high-stakes clashes like Chelsea at Burnley, unless they pivot to Peacock, NBCUniversal’s direct-to-consumer app. News aficionados, meanwhile, lose out on CNN’s in-depth analysis and MSNBC’s political commentary, channels absent from Fubo since the Warner Bros. Discovery fallout years earlier.
The Warner Bros. Discovery schism compounds the pain. Since 2020, Turner networks like TNT, TBS, and truTV—home to NBA playoffs and March Madness—have been off-limits, a casualty of stalled carriage negotiations. The 2024 escalation axed lifestyle favorites including HGTV, Food Network, Discovery Channel, and TLC, leaving Fubo’s entertainment slate thinner than ever. Subscribers tuning in for a cooking show or home renovation binge now face a void, pushing many toward bundled alternatives like YouTube TV or Sling TV, which still carry these networks.
Fubo’s response has been swift but reactive. To stem churn, the company rolled out a $15 automatic credit for billing cycles starting December 1, 2025, for those affected by the NBCUniversal outage. More dramatically, on December 5, Fubo announced price reductions effective January 1, 2026, slashing its Pro and Elite plans from $85 monthly to $73.99, and Elite with add-ons to $83.99—a rare downward adjustment in an industry prone to hikes. These moves reflect the financial sting of lost content, with Fubo accusing NBCUniversal of “discriminatory tactics” and overcharging for soon-to-be-spun-off assets under the Versant banner. Yet, even at the discounted rate, the service struggles to justify its value proposition. Without these networks, Fubo’s channel count dips below 200 for base plans, lagging behind YouTube TV’s robust 100-plus lineup that includes locals and RSNs in most markets.
What remains as Fubo’s lifeline? Its vaunted regional sports networks, once a crown jewel for die-hard fans of MLB, NBA, and NHL teams. Fubo still bundles most RSNs, unlike many rivals that charge extra or exclude them entirely. However, the NBCUniversal blackout stripped away some of these of these, including NBC Sports Bay Area and Philadelphia, now available as $30 monthly add-ons via Peacock starting early 2025. Standalone RSN apps from teams like the New York Yankees’ YES Network or Boston’s NESN further erode Fubo’s bundling appeal, allowing fans to subscribe directly for $20-30 a month without the broader package. DIRECTV Stream and YouTube TV, meanwhile, maintain broader RSN access, often at no extra cost for in-market viewers.
Fubo’s multiview feature, allowing up to four customizable streams on one screen, was another differentiator—ideal for tracking multiple games. Yet, its rollout has been spotty, limited primarily to Apple TV devices and select newer Roku models for example, frustrating many Roku owners as even Roku’s newest and most powerful smart TVs are not supported. YouTube TV’s multiview, now expanded beyond sports to news and entertainment with pre-curated or user-selected options, works seamlessly across Fire TV, Roku, and smart TVs, stealing thunder from Fubo’s tech edge.
Financially, Fubo entered the blackout on solid footing. Third-quarter 2025 results, reported November 3, showed North American paid subscribers growing. This growth, fueled by sports season ramps and international tweaks, suggested resilience. But the timing is brutal: Peak NFL and NBA viewership coincides with the voids, and early indicators point to potential subscriber erosion.
Survival hinges on negotiation breakthroughs. Fubo’s pleas for “fair market rates” echo broader industry tensions, where streamers like YouTube TV recently blacked out Disney channels over similar fee spats. If deals return NBCUniversal networks by mid-January, Fubo could rebound with credits converting to loyalty. Absent that, the price cuts—while welcome—may not suffice against a lineup that feels increasingly incomplete.
As 2025 closes, eyes turn to Fubo’s Q4 earnings in early 2026. Will the subscriber base hold steady, or will the double blackout prove a tipping point? For now, Fubo fights on, betting that its sports core and bundled RSNs can weather the storm. But in a market where choice reigns, the hard sell intensifies, leaving fans—and investors—bracing for the next play.
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