fuboTV Has Flat 2nd Quarter, But Expects Add ~65K Subscribers Next Quarter
At the end of the first quarter, fuboTV disclosed subscriber metrics, which saw a drop of ~30K subscribers from year’s end, leaving them with 287,316 subscribers. The company said that this was the result of “seasonality of sports content,” which saw over 60 percent of their gross paid subscribers coming in the second half of the year.
Today, fuboTV announced that at the end of the second quarter, they had 286,126 subscribers, which is more or less flat from the previous quarter, but up 47% from Q2 2019. Total content hours streamed by fuboTV users (paid and free trial) increased 83% year-over-year to 98.6 million hours.
Earlier this week, the company announced plans to “uplist” on a major stock exchange through a follow-on offering.
With the return of sports and the addition of Disney-owned channels like ESPN, the company expects to reach 340,000-350,000 total subscriptions, representing growth of over 20% year-over-year.
In comparison, the largest vMVPD, Hulu Live TV ($55), recently announced that they have 3.4 million subscribers. Sling TV ($30) recorded their third loss since launching in 2015 and is now at 2.25 million subscribers, a steady fall from the 2.311 million subscribers they reported last quarter. YouTube TV was last reported at 2 million users while AT&T TV NOW ($55) stands at 720,000 subscribers and Philo has 750,000 subscribers.
The company though has seen growth in revenue. Revenues for the second quarter 2020 were $44.2 million, a 53% increase year-over-year. Subscription revenue ($39.5 million) was up 51% from last year, while advertising revenue was up to 71% ($4.3 million).
If the company can continue to grow subscribers, they will see a boost in revenue, as plans increased to $59.99 a month — and they moved all existing subscribers to their $64.99 Family Bundle.