FuboTV added a net 91,291 subscribers during the second quarter and brought its total up to 681,721, which it said is a 138% increase from where it was one year ago.
The subscriber growth led the company to revise its end-of-year guidance once again; it now expects to have between 910,000and 920,000 by the end of 2021. The new outlook implies full year 2021 net subscriber additions of at least 367,000, 58% higher than the 232,000 subscribers it added in 2020.
“fuboTV delivered a strong second quarter of 2021 across all of our key financial and operational metrics: subscribers, total revenue and advertising revenue,” said David Gandler, co-founder and CEO, fuboTV. “Engagement also reached record highs as we added exclusive sports streaming rights with CONMEBOL and began beta testing predictive, free-to-play gaming integrated into our streaming platform ahead of our expected launch this fall. Our Fubo Sportsbook with real-money wagering remains on track for a fourth quarter launch as we intend to further combine interactivity with streaming video.”
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FuboTV reported $130.9 million in revenue, up 196% year over year, thanks to steady growth in subscription and advertising revenue per user. However, the company’s operating expenses also grew 90% year over year and led to a loss of approximately $95 million during the second quarter. Still, the company cited its ARPU growth as “significant progress towards our profitability goals.”
“This positions us well to continue making deliberate, strategic investments in team, technology and infrastructure to optimize our market position and grow share, while also driving margin expansion,” the company wrote in a letter to shareholders.
In the second quarter, fuboTV said its users (both paid and on free trials) streamed more than 245 million hours, up 148% year over year, and that its monthly active users (MAUs) watched 134 hours per month on average.