FuboTV expects to exceed 545K subscribers after Q4

Virtual MVPD fuboTV released preliminary fourth quarter results and said it expects to its new paid subscriber total will exceed 545,000.

That figure would represent an increase of more than 72% year over year and would significantly pass up the company’s prior guidance of between 500,000 and 510,000 subscribers.

FuboTV is also projecting revenues that would exceed its previous forecast. The company now expects fourth quarter revenue to come in between $94 million and $98 million, up 77% over the year-ago quarter. Prior guidance was $80 million to $85 million.

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“FuboTV’s strong preliminary fourth quarter 2020 results exceeded what was already expected to be a record year for the company, and demonstrate continued consumer excitement for the company's live TV streaming offering,” said David Gandler, co-founder and CEO at fuboTV, in a statement. “In 2021, we will continue to be laser focused on executing our growth strategies, which include continuing to grow advertising revenues, working to implement sports wagering into our product and further establishing fuboTV as a leader in sports and live streaming.”

If fuboTV’s preliminary figures shake out, it would mean that the vMVPD added more than 100,000 subscribers in the fourth quarter. It would also put it much closer to moving past AT&T TV Now, which ended the third quarter with 683,000 subscribers.

In November, fuboTV said it had reached new content agreements with Epix and Starz and that it planned launch their premium entertainment channels on fuboTV before the end of 2020. The company is also building off its partnership with Viasat to make its service available to stream live at no charge on U.S. flights equipped with Viasat satellite internet. Fubo Sports Network will now be available for free to JetBlue customers, who will also be able to sign up for a fuboTV subscription and begin streaming immediately.