fuboTV acquires Molotov, Edisn.ai as it records subs milestone | Major Businesses | Business | News | Rapid TV News
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In what the sports-first live TV streaming platform says is an inflection point in its business, fuboTV has revealed that just after closing its third quarter of the year it has not only clocked up a million total paid subscribers but has also made two strategic acquisitions of streamers in Europe and Asia.
fubo molotov 10nov2021
Regarding the record third quarter results, for the third quarter ended 30 September the company delivered triple-digit year-over-year growth in total paid subscribers, rising 108% on an annual basis to 944,605. Total revenue was up 156% compared with Q3 2020 to $156.7 million and advertising revenue was up 147% compared with the previous year to $18.6 million.

Viewership hours reached record highs with fuboTV customers streaming 284 million hours of content during the quarter, a 113% increase year-on-year. fuboTV also added 262,884 net subscribers during the quarter, more subscribers than added throughout all of 2020.

“fuboTV’s achievement of hitting the one million subscriber mark since the third quarter ended is an extraordinary milestone by any measure but particularly remarkable given the momentum of our business over six short years,” said fuboTV co-founder and CEO David Gandler commenting on the third quarter results. “To put this in perspective, as of the end of the second quarter 2020, we had approximately 286,000 subscribers. And, even at the one million subscriber mark, we believe we are still just scratching the surface of the massive opportunity ahead of us with 72.6 million subscribers still active on traditional pay television.”

And part of the plans to realise the opportunity and become the world’s leading platform of its type, are the acquisitions of Molotov and Edisn.ai.

Founded in 2015, Molotov has been one of the leading streaming platforms in France boasting what it claims is a unique entertainment experience focused on live and on-demand TV series, movies, documentaries and kids’ content. The Molotov streaming platform was designed to be easily localised for new markets and languages, facilitating quick and efficient launches in additional countries. Combined with its Mango advertising video-on-demand (AVOD) platform, Molotov boasts nearly four million monthly active users in France.

Going forward, fuboTV will look to provide Molotov with sports content and sports-first product features ad believes that the newly combined streaming platform has the potential to offer a robust and personalised product experience for everyone in the household. The combined offering will also enable fuboTV to customise local content offerings as it enters new markets.

Molotov will continue to be based in Paris and led by Jean-David Blanc, its co-founder who has also been named president, Molotov. Molotov’s approximately 100 employees will remain with the company and fuboTV plans to further expand the product and engineering team in Paris. Commenting on the deal, Blanc said: “We’re thrilled to scale Molotov with fuboTV with whom we share the same ambition and vision for a live TV streaming platform. Our goal is to provide consumers with a best-in-class streaming experience with premium television content on a global scale.”

And the reaching this desired scale will be helped by the acquisition of Bangalore-based Edisn.ai is an AI-powered computer vision platform with patent-pending video recognition technologies. It delivers interactive and personalised content to sports fans by applying its AI-powered player recognition engine to live video streams in real time.