In the midst of rising connected TV businesses everywhere, streaming video platform fuboTV continues to thrive.
The company, which has raised its subscriber estimate for the third quarter, also says revenues (from subscription fees and advertising) will grow 27% to 38% in the period to between $50 million and $54 million year-over-year.
The service, which says live sports is a key component of its business,
points to higher-than-expected growth in the third quarter, particularly around the NFL and Major League Baseball.
In addition, all this was “achieved during the ongoing pandemic,” stated David Gandler, chief executive officer/co-founder of fuboTV, in a press release.
Looking at just advertising, fuboTV says there was a 100% rise in revenue over a year ago, with higher average revenue per user (ARPU) per quarter, now at $6 to $7.
With an estimated 370,000 to 380,000 fuboTV paid subscribers for the third quarter, this would amount to $6.7 million to $8.0 million in ad revenue for the quarter.
For the next period -- the fourth quarter -- the company expects total revenues to rise between 53% and 68% to $68 million to $75 million. Additionally, it projects a 30% to 33% rise in subscribers of the same period a year ago to 410,000 to 420,000 paid subscribers.
Full year 2020 revenues estimated to go to $220 million to $231 million, and, for 2021, $400 million to $420 million.
The streaming platform says it offers a broad mix of more than 100 channels, including 43 of the top 50 Nielsen-ranked networks across sports, news and entertainment, when looking at Nielsen-measured primetime adults 18-49 viewers.
The platform says it covers 90% of the U.S. receiving nationally televised NFL games; 100% for the NHL; 88%, Major League Baseball, and nearly 70% for the NBA.