fuboTV Announces Preliminary Fourth Quarter 2020 Revenue and Subscriber Growth
January 05 2021 - 9:00AM
Business Wire
Live TV Streaming Platform Expects to Exceed
Prior Guidance, Close Record-Breaking 2020
fuboTV Inc. (NYSE: FUBO), the leading sports-first live TV
streaming platform, announced preliminary fourth quarter revenue
and subscriber results today. Both metrics are expected to exceed
previously issued guidance in a record quarter and year for
fuboTV.
- Q4 total revenue is expected to be between $94-$98 million, a
77% to 84% increase year-over-year.* Prior guidance was $80-$85
million.
- Paid subscribers at year-end are expected to exceed 545,000, an
increase of more than 72% year-over-year. Prior guidance was
500,000-510,000 subscribers.
“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, fuboTV. “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.”
*Metrics compare the combined company (fuboTV Inc. and FaceBank
Group, Inc.) in 2020 to the legacy fuboTV company (“pre-merger
fuboTV”) in 2019.
About fuboTV
fuboTV (NYSE: FUBO) is the leading sports-first live TV
streaming platform offering subscribers access to tens of thousands
of live sporting events annually as well as leading news and
entertainment content. With fuboTV, subscribers can stream a broad
mix of 100+ live channels, including 42 of the top 50
Nielsen-ranked networks across sports, news and entertainment -
more than any other live TV streaming platform. Continually
innovating to give subscribers a premium viewing experience they
can’t find with cable TV, fuboTV is regularly first-to-market with
new product features and was the first virtual MVPD to stream in
4K. fuboTV was also the first U.S. virtual MVPD to enter Europe
with the 2018 launch of fuboTV España. fuboTV launched fubo Sports
Network, the live, free-to-consumer TV network featuring live
sports and award-winning original programming, in 2019.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based on the
current beliefs, expectations and assumptions of fuboTV and on
information currently available to fuboTV. The forward-looking
statements in this press release represent fuboTV’s views as of the
date of this press release. These statements may include, but are
not limited to, statements regarding future events or future
financial and operating performance, including revenue and
subscriber guidance and efforts to implement sports wagering into
our product. Although fuboTV believes the expectations reflected in
such forward-looking statements are reasonable, fuboTV can give no
assurance that such expectations will prove to be correct.
Forward-looking statements may involve known and unknown risks,
uncertainties and other factors that may cause fuboTV’s actual
results, performance or achievements to be materially different
from those expressed or implied by the forward-looking statements.
Accordingly, readers are cautioned not to place undue reliance on
these forward-looking statements. Except as required by applicable
law, fuboTV does not plan to publicly update or revise any
forward-looking statements contained herein, whether as a result of
any new information, future events, changed circumstances or
otherwise. No representations or warranties (expressed or implied)
are made about the accuracy of any such forward-looking statements.
Important factors that could cause fuboTV’s actual results to
differ materially are detailed from time to time in the reports
fuboTV files with the Securities and Exchange Commission, copies of
which are available on the Securities and Exchange Commission’s
website at www.sec.gov and are available from fuboTV without
charge. However, new risk factors and uncertainties may emerge from
time to time, and it is not possible to predict all risk factors
and uncertainties.
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version on businesswire.com: https://www.businesswire.com/news/home/20210105005373/en/
Investor Contact: The Blueshirt Group for fuboTV ir@fubo.tv
Media Contacts: Jennifer L. Press, fuboTV jpress@fubo.tv
Katie Minogue, fuboTV kminogue@fubo.tv
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