NEW YORK—fuboTV closed out 2020 with its subscriber base almost at the 550,000 mark, officially tallying 547,880 paid subscribers according to the live streaming platform’s fourth quarter and full-year 2020 report.
fuboTV, the sport-focused vMVPD streaming service, reported that it saw 92,800 net subscriber additions in Q4 2020, which helped it achieve a quarterly revenue of $105.1 million. These results capped what fuboTV CEO and co-founder David Gandler called the company’s “strongest fiscal year to date.”
According to a letter to shareholders, fuboTV's nearly 548,000 paid subscribers at the end of Q4 2020 is up from the 316,000 the company reported at the end of Q4 2019, a 73% year-over-year increase. In the second half of 2020 alone, fuboTV said its net subscribers increased by 261,754.
For the year, total content hours streamed grew to 544.9 million hours, with customers streaming on average 7.2 hours per day. Just in Q4 2020, consumed streaming hours reached about 206 million.
Total revenue for 2020 reached $268.8 million, fuboTV reports, an 83% increase year-over-year. Subscriber revenue accounted for $230.7 million of that.
“Building on this quarter and year, we remain focused on continued innovation and are excited about our growth opportunities for 2021, including the ongoing expansion of our advertising business and the development of our sportsbook,” said Gandler.
Providing some details for what it hopes to do in 2021, Edgar Bronfman Jr., executive chairman of fuboTV, said that in addition to continuing to boost its streaming capabilities, fuboTV is developing sports wagering capabilities.
In its shareholder letter, fuboTV projects that while it may see a slight decline in net subscribers at the end of Q1 2021 (between 520,000-530,000), its full-year project for paid subscribers would see them between 760,000-770,000 at the end of 2021. In terms of revenue, fuboTV projects to earn between $101-103 million in Q1 2021 and between $460-470 million for the full year.
For more information, visit fuboTV’s website.
