FuboTV crosses 1 million subscribers six years after launch

Sports-focused streaming TV service FuboTV has surpassed 1 million subscribers, the corporate introduced at present. The information got here as a part of FuboTV’s third-quarter financial earnings report: it ended Q3 with 944,605 subscribers however crossed the million determine after the quarter closed.

“FuboTV’s achievement of hitting the 1 million subscriber mark since the third quarter ended is an extraordinary milestone by any measure but particularly remarkable given the momentum of our business over six short years,” mentioned co-founder and CEO David Gandler. FuboTV can also be highlighting its development in income, promoting earnings, and viewing hours. The latter reached 284 million hours of streamed content material throughout the quarter, up 113 p.c yr over yr. In his letter to shareholders, Gandler mentioned, “1 million subscribers means increased relevance, leverage and influence with content partners and leagues, and the opportunity to go upstream on tentpole sports properties.”

“To put this in perspective, as of the end of the second quarter 2020, we had approximately 286,000 subscribers,” Gandler added. “And, even at the one million subscriber mark, we believe we are still just scratching the surface of the massive opportunity ahead of us with 72.6 million subscribers still active on traditional pay television.”

Still, that FuboTV is simply now hitting the all-important 1 million milestone exhibits how laborious it may be to compete with streaming heavyweights and bigger TV-centric providers, like YouTube TV, Sling TV, and Hulu with Live TV. Rich Greenfield of LightShed Partners just lately estimated that YouTube TV has round 4 million subscribers, making it the most important web TV supplier within the United States, adopted intently by Hulu.

FuboTV’s channel bundles start at $64.99 per month, which incorporates 116 channels, 250 hours of cloud DVR storage, and three concurrent streams. The top-tier Elite bundle will increase that to 162 channels, 1,000 hours of DVR house, and 10 simultaneous streams. That beginning value is identical as YouTube TV after the Google-owned service sharply raised its subscription price in June of final yr.

FuboTV additionally introduced that it’s buying Molotov SAS, described as “France’s number one live TV streaming company,” and Edisn.ai, an AI firm that focuses on video recognition. FuboTV says its tech will likely be used for “interactive experiences, personalization and platform stability.”