FuboTV Reports 96% Jump In 2019 Revenue, 37% Increase In Subscribers

FuboTV, newly acquired by FaceBank Group, has revealed user and revenue information in a letter to shareholders, as it prepares to upgrade from OTC trading to listing on a major stock exchange.

The five-year-old live-sports-oriented virtual MVPD reported that it had 315,789 paid subscribers at the end of 2019, up 37% from 2018.

FuboTV also reported, in the letter from co-founder/CEO David Gandler, that its streaming hours rose 210% last year, and its revenue shot up 96%, to $146.5 million.

Paid and free-trial users streamed 298.7 million hours last year, the company said. In December 2019, monthly active users (MAUs) watched 129 hours on average, and those streaming primarily on CTVs watched 144 hours on average.



The service’s average revenue per user (ARPU) rose 42%, to $53.80, last year, Gandler reported, adding that the company expects total revenue to see more than 75% year-over-year growth in this year’s first quarter.

Subscription revenue accounted for most of last year’s revenue: $133.3 million. Ad revenue has been growing at a more rapid pace, but has been hit by the suspension of professional sports during the pandemic.

“While our business has been impacted by the reduced availability of live sporting events due to current shelter-in-place and related restrictions, we have continued to see growing engagement of our subscribers with news and entertainment content as consumers seek to stay informed and entertained,” Gandler wrote.

He said that FuboTV’s priorities for 2020 are growing its content portfolio, including 4K and original programming; “further innovating and personalizing its product offering”; and international expansion.

FaceBank secured a $100-million line of revolving credit for use for the vMVPD when it acquired FuboTV.

The strategy calls for combining FuboTV’s live TV streaming platform with FaceBank’s technology-driven IP in sports, movies and live performances to create a content-delivery platform for traditional and “future-form” IP, according to the companies. 

FuboTV already offers 30,000-plus sporting events per year and more than 10,000 TV series and movies on-demand each month. It also plans to leverage FaceBank’s IP-sharing relationships with celebrities and other digital technologies to enhance its sports and entertainment offerings. 

The service plans to employ FaceBank’s Nexway AG, a global ecommerce and payment platform with a business presence in 180 countries, to speed its international expansion.

In March, FuboTV added the NHL Network, MLB Network and MLB Network Strike Zone to its channel lineup, which means that it now offers access to all pro sports league channels.

Competitor Hulu dwarfs FuboTV’s current user base, with 31 million subscribers, and bundles from YouTube, AT&T and Dish Network also have far more users.

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