fuboTV: preliminary results show a strong Q4
The quarter continues a strong run for 2021.
Sports live TV streaming service fuboTV Inc. has announced its preliminary 2021 Q4 results, and, with both revenue and subscriber growth, things are coming up roses for the New York City-based platform.
Total revenue for the quarter is expected to be between $215m-$220m, a year-over-year increase of 105%-109%. These numbers are above earlier projections.
With the strong fourth quarter, full year revenue projections for 2021 are expected to be between $622m-$627m, a year-over-year increase of 138%-140%.
Advertising revenue for Q4 has increased by 90% to over $25m. This rise comes in tandem with robust subscriber growth: over 100% year-over-year to 1.1 million. Again, these figures exceeded expectations.
Altogether, fuboTV ended the quarter with $375m in cash, cash equivalents and restricted cash.
Comments from David Gandler, Co-Founder and CEO, expressed hope for the full disclosure of the company’s quarterly performance: “fuboTV’s strong preliminary fourth quarter 2021 results close out a pivotal year where we made meaningful advancements against our mission to define a new category of interactive sports and entertainment television.”
He noted that the high numbers were merely a continuation of prior performance: “In the fourth quarter, we continued to deliver triple digit revenue growth, alongside operating leverage, though the efficient deployment of acquisition spend and the retention of high-quality consumer cohorts.”
fuboTV is operational in the US, Canada, Spain, and, as a result of its acquisition of Molotov, in France.
The acquisition of the French company signals another triumph from Q4.
As Gandler commented on this last issue: “We are also very pleased with the ongoing integration of Molotov, the Paris-based live TV streaming platform we acquired in December. While still early, our progress to date continues to reinforce our belief that the synergies of the combined companies will give us operating leverage to build a scalable global platform with minimal incremental spend.”
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