fuboTV reveals strong Q2 2020
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Joseph O'Halloran
| 14 August 2020
In its first quarterly results since acquisition by FaceBank which was completed in April 2020, online sports and entertainment streaming firm fuboTV has seen its live TV service deliver double digit revenue, subscription and viewership growth year-on-year.
fubo 19 june 2019
Overall, fuboTV said that consumer engagement continued to be strong in Q2, despite a shutdown of most major league sports both in the US. For its second quarter ended 30 June 2020, the company’s revenues totalled $44.2 million, a 53% increase year-over-year on a pro forma basis. This growth was said to have been driven by continued subscriber growth, an increase in subscription average revenue per user (ARPU) and growth of advertising sales. Subscription revenue increased 51% year-over-year to $39.5 million while advertising revenue increased 71% year-over-year to $4.3 million.

Paid subscribers at quarter end totalled 286,126, an increase of 47% on a yearly basis, leading to an ARPU of $54.79, up 8% compared with the same period year-over-year. Total content hours streamed by fuboTV users (paid and free trial) increased 83% copared with Q2 2019 to 98.6 million hours and the company’s monthly active users (MAUs) watched 140 hours per month on average in the quarter, an increase of 54% year-over-year.

However, adjusted EBITDA was a loss of $41.9 million in Q2 2020, a $1.5 million larger loss than in the prior year.

Assessing the quarter and the trends revealed in the results, David Gandler, co-founder and CEO of fuboTV said that he was confident consumers would continue to choose streaming over traditional pay television, especially in the current economic climate because of its more personalised, premium viewing experience.
“Macro trends towards streaming, combined with our strong second quarter results and continued momentum, reinforce our confidence in our business and the vMVPD space,” he remarked. “Looking ahead to Q3, with the gradual return of sports, we anticipate an increase in subscribers, viewership and that our portion of revenue derived from advertising will grow.”

fuboTV predicted that at the close of Q3 it would see paid subscribers reach between 340,000 and 350,000, which would represent an increase of 20% year-over-year.