fuboTV sees revenue jump over 100%
fuboTV in December 2021 showed 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. For the full year of 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. Breaking this figure down, advertising revenue in the fourth quarter 2021 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.
fuboTV expects to end the quarter with more than $375 million of cash, cash equivalents and restricted cash.
Paid subscribers at year-end are expected to exceed 1.1 million, more than double that recorded a year previously. Prior guidance was 1.06–1.07 million subscribers at the end of the year. Subscriber churn is expected to improve in the quarter by more than 200 basis points year-over-year and if realised would mark the 13th consecutive quarter of churn improvements. 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.
“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 commenting on the preliminary result announcement.
“This wraps up a phenomenal year where we grew revenue by over 138% while advancing towards our path to profitability…We are also very pleased with the ongoing integration of Molotov, the Paris-based live TV streaming platform we acquired in December. While still early, our progress to date continues to reinforce our belief that the synergies of the combined companies will give us operating leverage to build a scalable global platform with minimal incremental spend.”