fuboTV released its Q4 earnings report Tuesday, showing that the streaming service ended 2020 with 547,880 paid subscribers, including 92,800 net subscriber additions in the fourth quarter.
The company shared preliminary numbers last month, expecting the service to reach 545,000 subscribers by the time the report was officially released.
Not only did fuboTV exceed its subscriber expectations, but also beat its revenue projections. The company closed its strongest fourth quarter and year in its history, topping $100 million in quarterly revenue for the first time and coming in at $105.1 million, above the $94-98 million projection.
“fuboTV’s fourth quarter closed our strongest fiscal year to date,” said David Gandler, co-founder and CEO, fuboTV. “Our record 547,880 paid subscribers streamed more sports, news and entertainment content than ever before. Building on this quarter and year, we remain focused on continued innovation and are excited about our growth opportunities for 2021, including the ongoing expansion of our advertising business and the development of our own sportsbook.”
“Our goal for 2021 and beyond is to develop fuboTV into a new kind of media company that combines both innovative streaming video and sports wagering,” said Edgar Bronfman Jr., executive chairman, fuboTV. “We intend to deliver leading sports, news and entertainment content to a growing subscriber base that transcends the industry’s current virtual MVPD model, and are excited about our ability to capitalize on the future market opportunity.”
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Source: Cord Cutters News