FuboTV reaches $231m in Q4 revenue as sportsbook offering expands across the US
The media company expects revenues to surpass $1bn in 2022.
FuboTV, the sports streaming service and operator of Fubo Sportsbook, has announced its financial results for the final quarter of 2021.
The period saw Fubo record quarterly revenue of $231m, a 119% year-on-year increase. Of this revenue, $26.1m came from advertising, a 98% yearly boost.
“FuboTV delivered a record fourth quarter and full year across a number of our key financial and operational metrics,” said David Gandler, Co-Founder and CEO, FuboTV.
“Our expansion into real-money wagering is underway with the launch of Fubo Sportsbook across two states with additional states expected to follow this year. This launch represents a differentiated and industry-first integration of streaming and a sports wagering product and we see ourselves in the very early innings of a massive opportunity.”
With the release of Q4 results comes the announcement of 2021 results in full. The year saw revenue reach $638m, a year-on-year boost of 144%. The company’s success throughout 2021 has led the brand to predict revenue of $1bn for the coming year.
The period also saw the streaming and gaming operator’s user base increase markedly. Indeed, subscribers rose by 106%, coming in at 1.13 million people.
2021 saw the streaming service make its move into the US’ nascent sports betting market with the launches of Fubo Gaming, whose CEO recently spoke with Gaming America, and Fubo Sportsbook.
These offerings will allow subscribers of the sports streaming service to see live odds, betting numbers and analysis while watching a game. Presently, Fubo Sportsbook is licensed to operate in Arizona, Iowa, New Jersey via Caesars Entertainment, and Pennsylvania via The Cordish Companies.
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