As part of their Q3 2020 earnings today, fuboTV announced they have reached 455,000 subscribers, an increase of 58% year-over-year. The number is a major increase from the 286,126 subscribers they reported last quarter, spurred by the return of major sports like NFL and College Football.
The company expects to end the year at 500-510K subscribers, up from the 410K they expected to reach by the end of 2020.
They shared they have reached deals to bring Epix and STARZ to the service as premium add-ons by the end of the year.
“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 grew 153% 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.”
The company said total content hours streamed by fuboTV users in the quarter increased 83% year-over-year to 133.3 million hours. Monthly active users (MAUs) watched 121 hours per month on average in the quarter, an increase of 20% year-over-year.
In comparison, the largest, Hulu Live TV ($55), last quarter announced that they have 3.4 million subscribers, which is ahead of YouTube TV, who recently announced 3 million subscribers and Sling TV ($30), who has 2.46 million subscribers, after adding 203K subscribers last quarter.
Just yesterday, Philo, the $20 skinny bundle announced that they have surpassed 800K subscribers. But with continuing declines to AT&T TV NOW ($55), fuboTV has nearly caught up to AT&T TV NOW, who has just 683K subscribers, after losing 60+% of their subscribers over the last two years.
The company shared that one path for growth of both subscribers and revenue is their entry into online sports wagering market. “Our goal with wagering is to develop a new revenue stream for fuboTV, and one which we believe will be an important contributor to our business,” said Gandler in his letter to shareholders.
In August, fuboTV ($60) reported they had 287,000 subscribers.
The company recently introduced a new Elite Bundle ($79.99) that lets you stream on up to five devices at the same time, but they all have to be on your Home Network.
In September, fuboTV became a bit restrictive, disallowing you to stream on more than one streaming player, Smart TV, or gaming console from different locations.
The company recently expanded their “Multi-View” feature to enable Apple TV users to stream four games at the same time.