fuboTV shared its Q3 financial report today, announcing that the streaming service has reached over 455,000 paid subscribers, an increase of 58% year-over-year.. That’s up from just over 287,000 subscribers in the previous quarter. In Q3, fuboTV also had an increase in revenue, with $61.2 million revenue for the quarter, a 47% increase year-over-year
Along with an increase in subscribers, fuboTV saw an increase in watch time. Monthly active users watched 121 hours per month on average in the quarter, an increase of 20% year-over-year.
While fuboTV is still behind Hulu with Live, YouTube TV, and Sling TV in subscriber numbers, the service continues to focus on its foundation of being a sports-centered service. A distribution deal with Disney finally brought ESPN to fuboTV just before Q2 numbers were released in August. The addition of ESPN, in addition to Disney’s full suite of channels, helped to give fuboTV a boost in subscriber count.
“Q3 was the strongest quarter in fuboTV’s history, exceeding targets in all of our key metrics: subscription revenue grew 64% year-over-year, ad revenue grew153% year-over-year and we ended the quarter with an all-time high of 455,000 paid subscribers,” said David Gandler, co-founder and CEO, fuboTV. “A heavy sports calendar, busy news cycle and Hollywood’s fall entertainment season delivered many viewing options for consumers. We continued to grow fuboTV’s premium, personal viewing experience with the launch of new product features and new programming including Disney Media Networks (ABC, ESPN, many more), MLB Network, NBC News Now and more.”
Added Edgar Bronfman Jr., executive chairman, fuboTV, “Our successful public offering in October demonstrated confidence in fuboTV’s strategy, and investor excitement has continued to grow. We believe fuboTV sits firmly at the intersection of three megatrends: the secular decline of traditional TV viewership, the shift of TV ad dollars to connected TVs and online sports wagering, a market which we intend to enter. As a result, we believe our growth opportunities are numerous. Our optimism in the future of fuboTV and the live TV streaming business has never been stronger.”
Source: Cord Cutters News