Virtual MVPD FuboTV has nearly 250,000 subscribers

FuboTV said that average time spent per user is up more than 364%. (FuboTV)

Virtual MVPD FuboTV, which competes with the likes of Sling TV and DirecTV Now, said that it is approaching 250,000 total subscribers.

That includes 30,000 subscribers added during the third quarter and marks more than 100% growth year over year compared to the 100,000 subscribers the service had back in September 2017.

The subscriber totals come as part of a larger batch of financial and performance details that FuboTV released today. The company said its annual run rate is up 259% to $102 million and that its average revenue per user is up more than 80% to $40.

“What our team of less than 150 employees has built—from the ground, up, despite our competition having access to tens of thousands of engineers alone—impresses me every day, and it should put the streaming TV industry on notice,” said David Gandler, FuboTV co-founder and CEO, in a statement. “Our September results and year-over-year growth are proof of our success. We have and will continue to deliver the most optimal quality experience for our customers and strong value to our investors, as we take the company to the next level.”

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FuboTV also said that average time spent per user is up more than 364% to 51 hours during September, and that downloads rose more than 418% to 752,000 last month.

FuboTV—a sports-focused service that has added multiple general entertainment channels from AMC Networks, Discovery, Turner and others—credits its growth to being ahead of the curve. The service was the first vMVPD to offer 4K HDR content and was one of the first to offer cloud DVR.

FuboTV’s subscribership is on the rise, but the service is still well behind its competitors. Hulu with Live TV now has 1 million subscribers, DirecTV Now has more than 1.8 million subscribers, and Sling TV has more than 2.3 million subscribers.