In today’s Q3 2021 earnings release, fuboTV announced that its live TV streaming service now has one million total paid subscribers.
“The one million subscriber milestone represents an exciting inflection point in our business, with tremendous implications for revenue growth and profitability, particularly given the continued strength of our advertising business,” said Edgar Bronfman Jr., executive chairman, fuboTV. “I am thrilled about the evolution of fuboTV in such a short period of time. There is so much more to come as we track towards defining a new category of interactive sports and entertainment television.”
Viewership hours reached record highs with fuboTV customers streaming 284 million hours of content during the quarter, a 113% increase year-over-year. fuboTV also added 262,884 net subscribers during the quarter.
“fuboTV’s record third quarter 2021 results again showcase consistent strong execution in support of our company mission and continued traction towards our long-term growth and margin targets,” said David Gandler, co-founder and CEO, fuboTV. “The company delivered record results during the third quarter of 2021, growing total revenue by 156%, increasing advertising revenue by 147% and delivering subscriber growth of 108%, each compared to the prior year period. Additionally, we added 262,884 net subscribers in the third quarter – more subscribers than added throughout all of 2020.”
Gandler continued: “fuboTV’s achievement of hitting the one million subscriber mark since the third quarter ended is an extraordinary milestone by any measure but particularly remarkable given the momentum of our business over six short years. To put this in perspective, as of the end of the second quarter 2020, we had approximately 286,000 subscribers. And, even at the one million subscriber mark, we believe we are still just scratching the surface of the massive opportunity ahead of us with 72.6 million subscribers still active on traditional pay television.”
With the updated numbers, Hulu with Live is still in the top spot when it comes to live TV streaming service subscriber numbers at 3.7 million. YouTube last shared numbers for YouTube TV in Q3 2020 when the subscriber count was 3 million. Sling TV released its numbers on August 9, with the service coming in at 2.44 million subscribers.
Source: Cord Cutters News