fuboTV Exceeds $100 Million Revenue in Q4 2020 Capping Strongest Year to Date
March 02 2021 - 4:05PM
Business Wire
Live TV Streaming Platform Closed 2020 with
547,880 Paid Subscribers
fuboTV Inc. (NYSE: FUBO), the leading sports-first live TV
streaming platform, today announced its financial results for the
fourth quarter and full year ended December 31, 2020. The company
closed its strongest fourth quarter and year in its history,
topping $100 million in quarterly revenue for the first time
($105.1 million actual). fuboTV ended 2020 with 547,880 paid
subscribers, including 92,800 net subscriber additions in the
fourth quarter.
Complete fourth quarter and full year 2020 results are detailed
in fuboTV’s shareholder letter available on the company’s IR
site.
“fuboTV’s fourth quarter closed our strongest fiscal year to
date,” said David Gandler, co-founder and CEO, fuboTV. “Our record
547,880 paid subscribers streamed more sports, news and
entertainment content than ever before. Building on this quarter
and year, we remain focused on continued innovation and are excited
about our growth opportunities for 2021, including the ongoing
expansion of our advertising business and the development of our
own sportsbook.”
“Our goal for 2021 and beyond is to develop fuboTV into a new
kind of media company that combines both innovative streaming video
and sports wagering,” said Edgar Bronfman Jr., executive chairman,
fuboTV. “We intend to deliver leading sports, news and
entertainment content to a growing subscriber base that transcends
the industry's current virtual MVPD model, and are excited about
our ability to capitalize on the future market opportunity."
Live Webcast
Gandler and CFO Simone Nardi will host a live video webinar
today at 5:30 p.m. ET to deliver brief remarks followed by Q&A.
The live webinar will be available on the Events page of fuboTV’s
investor relations website. Investors can submit questions in
advance to ir@fubo.tv with the email subject “Q4 2020 Earnings.” An
archived replay will be available on fuboTV’s website following the
webinar. Participants should join the webinar 10 minutes in advance
to ensure that they are connected prior to the event.
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 TV channels, including 42 of the top 50
Nielsen-ranked networks across sports, news and entertainment -
more than any other live TV streaming platform (source: Nielsen
Total Viewers, 2020). 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.
Forward-Looking Statements
This letter contains forward-looking statements of fuboTV Inc.
(“fuboTV”) that involve substantial risks and uncertainties. All
statements contained in this press release are forward-looking
statements within the meaning of The Private Securities Litigation
Reform Act of 1995. The words “could,” “will,” “plan,” “intend,”
“anticipate,” “approximate,” “expect,” “potential,” or the negative
of these terms or other similar expressions are intended to
identify forward-looking statements, although not all
forward-looking statements contain these identifying words. Actual
results or events could differ materially from the plans,
intentions and expectations disclosed in the forward-looking
statements that fuboTV makes due to a number of important factors,
including (i) risks related to the ability to realize the
anticipated benefits of the Balto and Vigtory acquisitions, (ii)
risks related to the company’s access to capital and fundraising
prospects to fund its ongoing operations, (iii) risks related to
diverting management’s attention from fuboTV’s ongoing business
operations to address integration and fundraising efforts, (iv)
risks related to our ability to capitalize successfully on market
trends and develop and market a sports wagering offering, and (v)
other business effects, including the effects of industry, market,
economic, political or regulatory conditions, future exchange and
interest rates, and changes in tax and other laws, regulations,
rates and policies, including the impact of COVID-19 on the broader
market. Further risks that could cause actual results to differ
materially from those matters expressed in or implied by such
forward-looking statements are discussed in the company’s periodic
filings with the Securities and Exchange Commission and we
encourage you to read such risks in detail. The forward-looking
statements in this press release represent fuboTV’s views as of the
date of this press release. fuboTV anticipates that subsequent
events and developments will cause its views to change. However,
while it may elect to update these forward-looking statements at
some point in the future, it specifically disclaims any obligation
to do so. You should, therefore, not rely on these forward-looking
statements as representing fuboTV’s views as of any date subsequent
to the date of this letter.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210302005201/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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