FuboTV, the US streaming service with a focus on sports, has raised its subscriber guidance for Q3 2020 as a result of the start of NFL and the autumn sports seasons. The company also issued 2020 and 2021 revenue and subscriber guidance in a letter to its shareholders.
Additionally, fuboTV’s common stock has been approved to list on the New York Stock Exchange, conditional upon successful pricing of this offering, under the ticker symbol ‘FUBO’.
Highlights of the shareholder letter include:
Updated Q3 2020 Guidance
○ Ad sales: the third quarter is expected to be fuboTV’s highest revenue quarter of 2020, with a 100 per cent year-over-year increase. Advertising ARPU is expected to be $6-$7.
Issues Q4 2020 Guidance
Issues Full Year 2020 and Full Year 2021 Revenue Guidance
“The current quarter has been very strong for fuboTV with double digit revenue and subscription growth year-over-year as well as improvement in retention – all achieved during the ongoing pandemic,” said David Gandler, co-founder and CEO. “With the leading live sports package in the market, we are encouraged that the major sports leagues have found ways to navigate the pandemic. The NFL has a great example with Major League Baseball on how to handle Covid-19, and we’re excited for the season. The start of the NFL season and the expectation of a heavy fall sports calendar is driving engagement, ad revenue and higher CPMs, giving us additional confidence to forecast a strong third quarter for fuboTV. Looking ahead, we are focused on driving revenue growth by increasing subscription and ad sales and improving engagement.”