NEW YORK – JANUARY 10, 2022 – fuboTV Inc. (NYSE: FUBO), the leading sports-first live TV streaming platform, today announced preliminary fourth quarter 2021 results, including revenue and subscriber growth, ahead of its participation at this week’s 24th Annual Needham Virtual Growth Conference. Both revenue and subscriber metrics are expected to exceed previously issued guidance resulting in a record quarter and year for 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.
The metrics above exclude Molotov SAS, acquired by fuboTV in December 2021.
“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.”
Gandler further commented: “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.”
With a mission to provide the world’s most thrilling sports-first live TV experience through the greatest breadth of premium content, interactivity and integrated wagering, fuboTV Inc. (NYSE: FUBO) is focused on bringing to life its vision of a streaming platform that transcends the industry’s current virtual MVPD model. fuboTV Inc. operates in the U.S., Canada, Spain and, through its acquisition of Molotov, in France.
Leveraging its proprietary data and technology platform optimized for live TV and sports viewership, fuboTV Inc. aims to turn passive viewers into active participants and define a new category of interactive sports and entertainment television. The company’s cable TV replacement product, fuboTV, offers subscribers more than 100 live sports, news and entertainment networks and is the only live TV streaming platform with every Nielsen-rated sports channel (source: Nielsen Total Viewers, 2021). Subscribers can interact with fuboTV’s live streaming experience through predictive free-to-play games, which are integrated into select sports content.
Fubo Gaming Inc., a subsidiary of fuboTV Inc., launched Fubo Sportsbook, a next-generation mobile sportsbook purpose-built to integrate with fuboTV, in 2021.