fuboTV Aims For ‘Global Domination,’ Adds 262K Subscribers in Q3, Tops 944K Total
It was (almost) a major milestone for fuboTV in Q3, with the company adding 262,000 subscribers to reach a total of 944,605. However, fubo said following the end of the quarter, they reached over 1 million subscribers for the first time. David Gandler, co-founder and CEO told investors, “This company has one massive ambition: we are looking for global domination.”
“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,” Gandler said.
“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.”
In his shareholders letter, fuboTV CEO David Gandler said:
…we are thrilled to announce that, since closing the quarter, fuboTV has passed the one million subscriber mark. This 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.
fuboTV has doubled down on its status as “the sports fan’s live TV streaming service” with some of its moves over the past few months. It recently added Sinclair’s ABC affiliates, giving sports fans in major markets like Washington D.C., Seattle, Columbus, St. Louis, and Portland the ability to watch NBA basketball and NCAA football games.
They also added Regional Sports Networks in Las Vegas and Seattlewith AT&T SportsNet Rocky Mountain and ROOT Sports Northwest. However, it also added a regional sports fee to MSG, the New York-based RSN that is currently in a carriage dispute with Comcast, the region’s largest linear cable provider.
They also added NBA League Pass, the league’s out-of-market live game subscription service co-managed by the NBA and Turner Sports featuring nearly 1,000 out-of-market games per year, which helps mitigate the blow caused by fubo’s distinct lack of Turner stations.
In March, fuboTV originally projected at least 760,000 subscribers at the end of 2021, so the results are far surpassing the company’s expectations.
fuboTV is a live TV streaming service with about 90 channels for $69.99/month. This plan includes local channels, 27 of the top 35 cable channels, and regional sports networks (RSNs).
The streaming service does not carry channels from WarnerMedia-owned (CNN, TBS, and TNT) and those from A+E (A&E, History Channel, and Lifetime).