fuboTV increases revenue, subs estimates
January 10, 2022
fuboTV has announced preliminary fourth quarter 2021 results, including revenue and subscriber growth. The US sports-first live TV streaming platform said revenue and subscriber metrics are expected to exceed previously issued guidance resulting in a record quarter and year.
Fourth quarter 2021 total revenue is expected to be between $215-$220 million, an increase of 105 – 109 per cent year-over-year. Prior guidance was $205-210 million for the quarter.
Full year 2021 total revenue is expected to be between $622-627 million, an increase of 138 – 140 per cemt year-over-year. Prior guidance was $612 – $617 million.
Fourth quarter 2021 advertising revenue is expected to be over $25 million, an increase in excess of 90 per cent year-over-year, and crossing an annual run rate of $100 million.
Paid subscribers at year-end are expected to exceed 1,100,000, an increase of more than 100 per cent year-over-year. Prior guidance was 1,060,000-1,070,000 subscribers at year-end.
Subscriber Acquisition Cost (SAC) is expected to be at the low end of the company’s target range of 1.0-1.5x monthly Average Revenue Per User (ARPU) for the quarter.
Subscriber churn is expected to improve in the quarter by more than 200 basis points year-over-year. This marks the 13th consecutive quarter of churn improvements.
fuboTV expects to end the quarter with more than $375 million of cash, cash equivalents and restricted cash.
The metrics above exclude Molotov SAS, acquired by fuboTV in December 2021.
“fuboTV’s strong preliminary fourth quarter 2021 results close out a pivotal year where we made meaningful advancements against our mission to define a new category of interactive sports and entertainment television,” said David Gandler, co-founder and CEO, fuboTV.