FuboTV grows its gamble

FuboTV
(FuboTV)

Q4 2020 subscriber total: 547,880

Q3 2020 subscriber total: 455,000

FuboTV said in January that it expected to have more than 545,000 subscribers at the end of 2020 and when the company this officially announced its fourth-quarter results, it came in on target with 547,880. The company said the total marked 73% growth year over year.

However, fuboTV warned of another soft first quarter due to the seasonality associated with service’s focus on live sports. The current quarter, the service issued subscriber guidance in the 520,000-530,000 range, which it said would represent growth of 81-84% year over year but a sequential decline of 3-5%.

“Our goal for 2021 and beyond is to develop fuboTV into a new kind of media company that combines both innovative streaming video and sports wagering,” said Edgar Bronfman Jr., executive chairman at fuboTV, in a statement. “We intend to deliver leading sports, news and entertainment content to a growing subscriber base that transcends the industry's current virtual MVPD model and are excited about our ability to capitalize on the future market opportunity."

If fuboTV can continue to grow its subscriber base – the company expects to end the year with 760,000-770,000 subscribers – it will likely be able to build more engagement for its planned sports betting platform.

FuboTV grows its gamble
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