FuboTV Tops 1 Million Subscribers, Acquires French Online TV Service Molotov SAS

Online TV streaming platform FuboTV Nov. 9 announced it reached 1 million paid subscribers through the third quarter (ended Sept. 30), since launching in 2015. The service ended the previous-year period with 288,000 paid subs.

New York City-based FuboTV also announced it is acquiring French-based online TV service Molotov SAS.

The company upped total revenue 156% to $156.7 million, with advertising revenue up 147% to $18.6 million from the previous-year period. Net loss increased 61% to $106 million, from $56 million last year.

Viewership hours reached a record high of 284 million hours, up 113% year-over-year. The platform added 262,884 net subscribers during the quarter.

FuboTV is eyeing future growth on the 76 million existing pay-TV subscribers who continue their bundle agreements largely for live sports access.

With the September launch on Vizio’s SmartCast platform, FuboTV is now available on all major CTV platforms. These include Android TV, Apple TV, FireTV, Hisense Smart TVs (with the Vidaa operating system), LG Smart TV, Roku, Samsung Smart TV and Xbox One, in addition to Vizio SmartCast.

“The record third-quarter 2021 results again showcase consistent strong execution in support of our company mission and continued traction towards our long-term growth and margin targets,” co-founder/CEO David Gandler said in a statement.

Edgar Bronfman Jr., executive chairman of FuboTV, said the subscriber milestone represents “an exciting inflection point” in the business, with “tremendous” implications for revenue growth and profitability, particularly given the continued strength of the advertising business.

“There is so much more to come as we track towards defining a new category of interactive sports and entertainment television,” Bronfman said.