FuboTV Teases Strong Year-End Revenue, Sub Growth

FuboTV, the upstart publicly-traded online sports-themed streaming service, hasn’t announced when it would report fourth-quarter fiscal results. But that didn’t stop the New York-based service from disclosing upbeat year-end revenue and subscriber growth numbers.

The platform said it expects Q4 total revenue to be between $94 million  and $98 million, a 77% to 84% increase from the previous-year period. Prior guidance was $80 million to $85 million.

Paid subscribers at the year’s end are expected to exceed 545,000, an increase of more than 72% year-over-year. Prior guidance was 500,000 to 510,000 subscribers.

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“FuboTV’s strong preliminary fourth quarter 2020 results exceeded what was already expected to be a record year for the company, and demonstrate continued consumer excitement for the company’s live TV streaming offering,” co-founder/CEO David Gandler said in a statement. “In 2021, we will continue to be laser focused on executing our growth strategies, which include continuing to grow advertising revenues, working to implement sports wagering into our product and further establishing FuboTV as a leader in sports and live streaming.”

Gandler made no mention on the company’s projected profit/loss. In Q3, FuboTV reported a net loss of $274 million on revenue of $61 million. The company launched an IPO in October that saw shares skyrocket 400% following investor excitement over a live-sports themed online streaming service. Shares have been falling ever since, down more than 60%.

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