Company said that it initially projected subscribers to be between 500,000-510,000 by end of 2020.
fuboTV, the sports-focused live TV streaming platform, believes that it had a better 2020 than it thought it would based on its preliminary fourth quarter 2020 revenue and subscriber results.
According to fuboTV, its paid subscribers at the end of 2020 total more than 545,000. This represents a 72% year-over-year growth and exceeds initial projections of 500,000-510,000 subscribers by the end of 2020.
Revenue for fuboTV also is expected to exceed expectations, with fuboTV’s initial report projecting a Q4 total revenue between $94-$98 million, a 77-84% increase year-over-year.
“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.”
However, the end of the year wasn’t entirely sunny for fuboTV. After having its stock valued at $62 a share on Dec. 22, fuboTV was trading at $24 on Nasdaq as of midday on Jan. 4. There appears to be debate among financial experts on whether or not fuboTV will be able to create a substantial niche audience with its bevy of sports streaming content.