Fubo's Double Blackout: Can It Survive?

As the holiday season approaches, sports enthusiasts and news junkies are facing a harsh reality: Fubo, the streaming service marketed as a sports-first platform, is grappling with a devastating "double blackout." It has lost key networks from both NBCUniversal and Warner Bros. Discovery, raising serious questions about its future in an increasingly crowded market. With peak sports seasons underway, subscribers are left wondering if Fubo can retain its user base.

The Double Blackout Explained

Fubo's troubles began with the loss of Warner Bros. Discovery channels back in 2020, which included popular networks like TNT, TBS, and truTV. This was a significant blow, as these channels were home to NBA playoffs and March Madness. The situation escalated in April 2024 when lifestyle favorites such as HGTV, Food Network, Discovery Channel, and TLC were also axed due to stalled carriage negotiations.

Adding insult to injury, on November 21, 2025, Fubo lost all NBCUniversal channels after contract renewal talks collapsed. This includes local NBC affiliates—essential for NFL Sunday Night Football and college bowl games—and national staples like USA Network, Bravo, MSNBC (rebranded as MS Now), CNBC, and the Golf Channel. For sports fans, this means no access to Premier League soccer, and for news aficionados, it means losing CNN and MSNBC (which had already been absent since the Warner Bros. fallout).

Impact on Subscribers

The double blackout has left Fubo's lineup looking thin. Subscribers who signed up for a comprehensive sports and entertainment package are now missing out on major events and shows. The loss of local NBC affiliates is particularly painful, as it cuts off access to marquee matchups like the Tampa Bay Buccaneers versus Los Angeles Rams. Meanwhile, fans of cooking shows or home renovation binge-watching are left with a void, pushing many toward competitors like YouTube TV or Sling TV, which still carry these networks.

Even Fubo's vaunted regional sports networks (RSNs) have been affected. While it still bundles most RSNs—a key differentiator—the blackout stripped away some, including NBC Sports Bay Area and Philadelphia. These are now available as $30 monthly add-ons via Peacock, further fragmenting the viewing experience.

Fubo's Response and Financial Strain

In an effort to stem subscriber churn, Fubo has rolled out several measures. Existing subscribers received a $15 automatic credit for billing cycles starting December 1, 2025. More dramatically, on December 5, Fubo announced price reductions effective January 1, 2026: slashing its Pro and Elite plans from $85 to $73.99 monthly, and Elite with add-ons to $83.99. This is a rare downward adjustment in an industry known for frequent price hikes.

However, even at the discounted rate, Fubo struggles to justify its value. With the double blackout, its channel count has dipped below 200 for base plans, lagging behind competitors like YouTube TV, which offers over 100 channels including locals and RSNs in most markets.

Fubo's financial health was solid before the blackout, with third-quarter 2025 results showing growth in North American paid subscribers. But the timing is brutal, coinciding with peak NFL and NBA viewership, and early indicators suggest potential subscriber erosion.

Alternatives for Disgruntled Subscribers

For those looking to switch, there are several viable alternatives:

• Peacock: The cheapest way to watch NBC. Peacock Premium Plus ($17/month) includes local NBC live streaming, ad-free on-demand content, and downloads. It's the go-to for NBC fans sticking with Fubo for other content.
• DIRECTV Stream: The best overall Fubo alternative. It offers a vast selection of channels (including locals and RSNs) and the ability to add major streaming services. Plans start around $90/month, often with introductory discounts.
• YouTube TV: A strong competitor with a robust 100+ channel lineup, seamless multiview across devices, and broader RSN access.
• Sling TV: A budget-friendly option for those who don't need the full channel lineup.

What's Next for Fubo?

Fubo's survival hinges on negotiation breakthroughs with NBCUniversal and Warner Bros. Discovery. The company has accused NBCU of "discriminatory tactics" and overcharging for assets under the Versant banner. If deals return NBCU networks by mid-January, Fubo could rebound with credits converting to loyalty. Absent that, the price cuts may not suffice against an increasingly incomplete lineup.

As 2025 closes, all eyes are on 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.