fubo TV: ’Strong Q2’
August 11, 2021
Sports-first live TV streaming platform fuboTV’s financial results for the second quarter ended June 30th suggest the company delivered a strong second quarter 2021 with triple digit year-over-year growth in total paid subscribers (up 138 per cent year-over-year to 681,721, including 91,291 net subscriber additions in the quarter), total revenue (up 196 per cent year-over-year to $130.9 million) and advertising revenue (up 281 per cent year-over-year to $16.5 million). Engagement also reached all-time highs with fuboTV customers streaming 245 million hours of content during the quarter, a 148 per cent increase year-over-year.
fuboTV also increased revenue and subscriber guidance for the full year 2021.
“fuboTV delivered a strong second quarter of 2021 across all of our key financial and operational metrics: subscribers, total revenue and advertising revenue,” said David Gandler, co-founder and CEO, fuboTV. “Engagement also reached record highs as we added exclusive sports streaming rights with CONMEBOL and began beta testing predictive, free-to-play gaming integrated into our streaming platform ahead of our expected launch this fall. Our Fubo Sportsbook with real-money wagering remains on track for a fourth quarter launch as we intend to further combine interactivity with streaming video. Our plans to launch a holistic and personalised user experience is evidenced by our sportsbook, which we’re excited to preview on our earnings call this afternoon.”
“We are very pleased with fuboTV’s performance in the first half of 2021 and believe that we are well positioned to continue to execute on our long-term financial and operating goals, all while delivering a differentiated and world-class experience to the consumer,” said Edgar Bronfman Jr., executive chairman, fuboTV. “Our second quarter results showcase the continued momentum in our business, with consumers choosing fuboTV over more expensive legacy pay TV services due to our innovative product experience and customer-friendly approach at an affordable price.”