Live TV streaming service fuboTV announced its preliminary Q4 results Monday, sharing both revenue and subscriber numbers for the quarter, which ended on December 31, 2021. The numbers were released ahead of the 24th Annual Needham Virtual Growth Conference investor event where fuboTV will share official numbers.
fuboTV exceeded previously released guidance for both revenue and subscriber numbers and called it a “record quarter and year for fuboTV.”
Paid subscribers for 2021 are expected to exceed 1,100,000, an increase of over 100% year-over-year. Prior guidance was 1,060,000-1,070,000 subscribers by the end of the year.
The company expects Q4 revenue to be between $215-220 million, an increase of more than 100% year-over-year. Prior guidance showed revenue of $205-210 million for the quarter. Revenue for 2021 in total is expected to be between $622-627 million, an increase of more than 138%, ahead of prior guidance of $612-617 million.
“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,” said David Gandler, co-founder and CEO, fuboTV. “In the fourth quarter, we continued to deliver triple digit revenue growth, alongside operating leverage, through the efficient deployment of acquisition spend and the retention of high quality customer cohorts. This was evidenced by continued improvements in subscriber churn year-over-year within the quarter. This wraps up a phenomenal year where we grew revenue by over 138% while advancing towards our path to profitability. We look forward to discussing our full fourth quarter and year-end 2021 results including Adjusted Contribution Margin, Adjusted EBITDA, EPS and cash flow on our forthcoming earnings call.”
Gandler continued, “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.”