fuboTV delivers strongest ever quarter in Q3 20 | Major Businesses | Business
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Showing, said the online video live TV streaming platform provider, that people come for the sport and stay for the entertainment, fuboTV has reported what it says is a record financial performance for the third quarter of 2020, exceeding raised guidance with solid growth in revenue, subscription and engagement.
fuboTV Platform 24March 2020

For the third quarter ended 30 September 2020, fuboTV revenues totalled $61.2 million, a 47% increase year-on-year on a pro forma basis, or up 71% excluding 2019 licensing revenue from the FaceBank AG business, sold in July 2020. Growth was driven by continued subscriber expansion, an increase in subscription average revenue per user (ARPU) and growth of advertising sales. Specifically subscription revenue increased 64% on an annual basis to $53.4 million while advertising revenue increased 153% compared with Q3 2019 to $7.5 million.

The company ended the quarter with 455,000 paid subscribers, 58% more than at the same period a yar ago. Each of the subs generated an average revenue of $67.70, up 14% year-on-year. In addition, the total content hours streamed by the users, both paid and free trial, in the quarter increased 83% on an annual basis to 133.3 million hours. Monthly active users (MAUs) watched 121 hours per month on average in the quarter, an annual increase of 20%.

Assessing the third quarter results, the strongest quarter in its history, fuboTV said that it was not sat at the intersection of three megatrends: the secular decline of traditional TV viewership, the shift of TV ad dollars to connected TVs and online sports wagering, a market that it intends to enter. The company expr4essedconfidence that its growth opportunities were numerous.

Commenting on the Q3 results, and noting the highlights and drivers, fuboTV co-founder and CEO David Gandler said: “A heavy sports calendar, busy news cycle and Hollywood’s fall entertainment season delivered many viewing options for consumers. We continued to grow fuboTV’s premium, personal viewing experience with the launch of new product features and new programming including Disney Media Networks (ABC, ESPN, many more), MLB Network, NBC News Now and more.”