fuboTV Reaches 1.1 Million Subscribers to End 2021, Subscriber Growth Over 100%
It’s earnings time, and fuboTV just announced some preliminary figures from its 2021 fourth quarter.
According to the company, revenue and subscriber metrics are expected to “exceed previously issued guidance resulting in a record quarter and year for fuboTV.”
The company says they will exceed 1.1 million subscribers as of the end of 2021, ahead of the 1.07 million originally projected. fuboTV finished Q3 2021 with 945K subscribers meaning they added just over 150K in Q4 2021 (compared to ~93K the prior year).
Here’s a glimpse at what fuboTV expects to be a stellar ending to a banner year (all figures courtesy fuboTV):
- Fourth-quarter 2021 total revenue is expected to be between $215-$220 million (an increase of 105%-109% year-over-year. Prior guidance was $205-210 million for the quarter.)
- Full year 2021 total revenue is expected to be between $622-627 million (an increase of 138-140% year-over-year. Prior guidance was $612-$617 million.)
- Fourth quarter 2021 advertising revenue is expected to be over $25 million (an increase in excess of 90% year-over-year, and crossing an annual run rate of $100 million.)
- Paid subscribers at year-end are expected to exceed 1,100,000 (an increase of more than 100% year-over-year. Prior guidance was 1,060,000-1,070,000 subscribers at year-end.)
- Subscriber Acquisition Cost (SAC) is expected to be at the low end of the company’s target range of 1.0-1.5x monthly Average Revenue Per User (ARPU) for the quarter.
- Subscriber churn is expected to improve in the quarter by more than 200 basis points year-over-year. This marks the 13th consecutive quarter of churn improvements.
- fuboTV expects to end the quarter with more than $375 million of cash, cash equivalents and restricted cash.
Fubo’s 2021 was the year of doubling down on sports, which could have played a large part in the company’s success. After all, live sports, specifically NFL games, are the only things people seem to be watching live these days, and fuboTV has made it a mission to provide sports fans with a live TV streaming service catered to them. FuboTV already has just about every sports channel available on their platform, with hints that TNT and TBS, the last remaining networks with major sports on them, could arrive sometime soon.
“fuboTV’s strong preliminary fourth-quarter 2021 results close out a pivotal year where we made meaningful advancements against our mission to define a new category of interactive sports and entertainment television,” said David Gandler, co-founder and CEO, fuboTV. “In the fourth quarter, we continued to deliver triple-digit revenue growth, alongside operating leverage, through the efficient deployment of acquisition spend and the retention of high-quality customer cohorts. This was evidenced by continued improvements in subscriber churn year-over-year within the quarter. This wraps up a phenomenal year where we grew revenue by over 138% while advancing towards our path to profitability. We look forward to discussing our full fourth quarter and year-end 2021 results including Adjusted Contribution Margin, Adjusted EBITDA, EPS, and cash flow on our forthcoming earnings call.”
fuboTV is a live TV streaming service with about 90 channels for $64.99/month. This plan includes local channels, 27 of the top 35 cable channels, and regional sports networks (RSNs).
fuboTV now has ESPN, Disney Channel, ABC, Nat Geo, FX, FXX, and other Disney-owned channels. The streaming service no longer carries channels from WarnerMedia-owned (CNN, TBS, and TNT) and those from A+E (A&E, History Channel, and Lifetime).