Fubo stock soars 180% but real game hasn’t started yet

FuboTV (FUBO) has already surged more than 180% this year, but for many investors, the stock still feels like it’s in limbo.

The sports-first streamer is waiting on the Department of Justice to sign off on its proposed blockbuster merger with Disney-owned Hulu+, first announced in March.

Once finalized, the deal would create a Disney-backed sports streaming platform boasting more than 6.2 million subscribers, and potentially send Fubo stock higher.

Meanwhile, Fubo is signaling that approval may come sooner than Wall Street expected.

While the company had initially said the deal wouldn’t be cleared until mid-2026, its latest proxy filing with the SEC suggests final approval could now arrive as early as the end of Q4 2025 or the first quarter of 2026.

Shareholders also need to vote on the deal at a still-unscheduled meeting. But management’s tone suggests confidence that the merger will close on the faster timeline.

🏈 Football season boost

In the meantime, Fubo doesn’t need Hulu to see a surge in users. The NFL season kicks off this Thursday, and history shows that football delivers a massive spike in subscriptions.

The effect is so consistent that analysts at MoffettNathanson describe it as “seasonal churn.” Fans pile in for football season — including college football, which started last weekend — then cancel after the Super Bowl.

This year’s big game drew an estimated 127.7 million viewers, and Fubo’s subscriber base swung right alongside it.

📡 New play: Fubo Sports

Fubo is leaning into this seasonality. Last week, the company announced the launch of Fubo Sports, a standalone “skinny content service” offering 20+ sports and broadcast networks with coverage of both pro and college football.

The plan, rolling out September 2, is pitched as a cheaper, more flexible way to capture seasonal fans.

“Bringing it back ahead of the football season,” co-founder and COO Alberto Horihuela posted on X, openly acknowledging the package is tailored to subscribers who want in until the next Super Bowl wraps up in February.