Fubo Adds 300,000 Users in Q3 2023, Now Stands at 1.48 Million; Streamer Wants to Be a ‘Super Aggregator’
Fubo Adds 300,000 Users in Q3 2023, Now Stands at 1.48 Million; Streamer Wants to Be a ‘Super Aggregator’
Thanks to the return of college and professional football, Fubo had an expectation-beating quarter.
The start of football season is always good news for Fubo. The streamer can usually count on a subscriber bump in late August/early September, but this year’s was bigger than even Fubo’s projections hoped it would be heading into the beginning of fall sports.
- Fubo now has 1.477 million subscribers, up from 1.167M last quarter.
- The company hit a record $83.51 in average revenue per user (ARPU) during the quarter.
- CEO David Gandler says the streamer wants to be a “super aggregator” going forward.
What Were Fubo’s Top Numbers from Its Earnings Report?
Fubo shared its third-quarter earnings report with the public on Friday, Nov. 3. As part of the report, Fubo revealed that it had risen to 1.477M users, an increase of 300,00 over last quarter when the [live TV streamer] said that it had 1.167M customers.
Financially, the quarter was a good one for Fubo as well. The company saw year-over-year revenue increase 43% to $313M during the quarter and cracked $83.51 in ARPU, which is a highly coveted statistic for investors. That number represents an all-time record for Fubo, and all of these figures come in ahead of expectations for the streamer.
Will Fubo Become a Leader in Aggregation?
In announcing this quarter’s earnings results, Fubo CEO David Gandler struck a confident tone about the service as it currently stands, and about its future. From the sound of things, Gandler has ambitious plans for the streamer’s ability to become a one-stop destination for TV watchers.
“Fubo’s strong third quarter exceeded guidance in North America, highlighted by an all-time high in paid subscribers as well as double-digit year-over-year revenue growth,” Gandler said. “As we progress toward our 2025 positive cash flow goal, we are confident that a return to content aggregation and bundling - which we long predicted - is now a reality. Fubo’s aim is to be a super aggregator, offering consumers premium content delivered through an intuitive and personalized streaming experience, at multiple price points, all in a single app.”
Although it does offer a wide and diverse content selection, to say that Fubo is a “super aggregator” currently is a bit off the mark. But most streaming operators now see a future of aggregation as a foregone conclusion, and Fubo can become an aggregation leader if it starts holding conversations with other content providers now about bringing their product to it.
The third quarter saw the rise and fall of Fubo’s Ultimate plan. In mid-August, the streamer replaced its Premier plan with the Ultimate tier, which cost $99.99 per month but included NFL RedZone in its base channel lineup. At the end of October, switched out the two plans once again, and now the Premier plan ($94.99 per month) is restored while the Ultimate plan has been consigned to the scrap heap.
October was a month of many updates for Fubo. The streamer kicked off October by announcing some updates specifically for Android TV and Google TV users. Then in mid-October, the Fubo app got a wider series of updates that allowed customers to navigate to the previous channel, scroll Fubo’s live guide more quickly, and other improvements.
One item of news potential Fubo subscribers were less enthusiastic to hear about was the discontinuance of weeklong free trials by the service. Now, new customers get a free trial of varying length, depending on which part of the month they sign up with the service.
Fubo
Fubo is a live TV streaming service with about 90 top channels that start at $79.99 per month. This plan includes local channels, 19 of the top 35 cable channels, and regional sports networks (RSNs). In total, you should expect to pay about $94.99 per month, after adding in their RSN Fee. Fubo was previously known as “fuboTV.”