fuboTV Q2 revenue up 53% despite no live sport
August 14, 2020
fuboTV, the US sports-focused OTT service, has reported Q2 revenues of $44.2 million (€37.4m), a 53 per cent increase year-over-year on a pro forma basis. Growth was driven by a rise in subscribers, an increase in Average Revenue Per User (ARPU) and growth of advertising sales.
Subscription revenue increased 51 per cent year-over-year to $39.5 million, whilst advertising revenue increased 71 per cent year-over-year to $4.3 million.
Paid subscribers at quarter end totaled 286,126, an increase of 47 per cent year-over-year. ARPU per month was $54.79, up 8 per cent year-over-year.
Total content hours streamed by fuboTV users (paid and free trial) increased 83 per cent year-over-year to 98.6 million hours. Monthly active users (MAUs) watched 140 hours per month on average in the quarter, an increase of 54 per cent year-over-year.
“We delivered strong second quarter results – revenues grew 53 per cent year-over-year, fuboTV paid subscribers increased 47 per cent and content hours streamed increased 83 per cent year-over-year,” said David Gandler, co-founder and CEO, fuboTV. “Consumer engagement continued to be strong in Q2, despite a shutdown of most major league sports both in the US and internationally, and we successfully ramped up advertising revenue.”
“We believe consumers will continue to choose streaming over traditional pay television, especially in the current economic climate because of its more personalised, premium viewing experience. Macro trends towards streaming, combined with our strong second quarter results and continued momentum, reinforce our confidence in our business and the vMVPD space. Looking ahead to Q3, with the gradual return of sports, we anticipate an increase in subscribers, viewership and that our portion of revenue derived from advertising will grow. At the close of Q3 we expect paid subscribers to reach 340,000 – 350,000, which will be an increase of 20 per cent year-over-year. The growth of streaming is one of the most significant changes to television, and television advertising, in the last several decades. fuboTV is at the forefront of the streaming revolution and we are excited for existing and new investors to join us on this journey,” added Gandler.