fuboTV marks strong Q1
July 8, 2020
FaceBank Group is to file amended results to include pro forma financials for the first quarter ended March 31st, relating to its recent merger with fuboTV it will include unaudited financial results from fuboTV on a standalone basis for the first quarter.
It says highlights will include:
- Revenues for the first quarter 2020 were $51 million, a 78 per cent increase compared to the first quarter of the prior year, driven by growth in subscribers, subscription Average Revenue Per User (ARPU) and advertising sales.
- Subscription revenue in the first quarter increased 74 per cent year over year to $46.4 million.
- Advertising revenue in the first quarter increased 120 per cent year over year to $4.1 million.
- Total streaming hours by fuboTV users (paid and free trial) in the first quarter increased 120 per cent year over year to 107.2 million hours.
- Monthly active users (MAUs) watched 120 hours per month on average in the quarter, an increase of 52 per cent year over year.
- Paid subscribers at quarter end totaled 287,316, an increase of 37 per cent year over year.
- Average Revenue Per User (ARPU) per month was $54.16, an increase of 25 per cent year over year.
- The company strengthened its balance sheet with an additional $46 million in equity funding from institutional and private investors since closing the merger. Specifically, on July 2nd 2020, the company received $20 million from Credit Suisse Capital through a common stock issuance at $9.25 per share.