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fuboTV today announced its latest quarter results, confirming 286,126 subscribers at the end of the last quarter. While this does represent a year-over-year increase, it is down compared to the number of subscribers the service had at the close of the previous quarter, and at the start of the year.
fuboTV is a live TV streaming service with a focus on sports, although it has been expanding its channel lineup recently to be more accommodating to all types of viewers. For example, the company only recently added a selection of Disney and ESPN channels to its plans. In spite of the channel selection improving, fuboTV trails behind the other major live TV streaming services when it comes to the number of paid subscribers.
FaceBank Group, the owner of fuboTV, confirmed that at the close of the second quarter there were 286,126 paid subscribers, representing a 47-percent year-over-year increase. However, in May the company announced that at the close of 2019, the service has 315,789 paid subscribers. Considering the overall number of subscribers here, that’s a notable decrease in the space of just over half a year. More recently in July, the company announced fuboTV’s first quarter results, confirming 287,316 paid subscribers. While only marginally different quarter-over-quarter, the difference is still negative.
Subscribers aside, FaceBank posted $44.2 million in total fuboTV revenue for the second quarter, equivalent to a 53-percent year-over-year increase, along with $54.79 in Average Revenue Per User (ARPU), representing a year-over-year increase of eight-percent.
fuboTV, new subscribers, and ‘seasonality’
In live TV streaming service terms, right now would appear to be a good time to attract new subscribers. After all, PlayStation Vue is no more, AT&T TV NOW can’t stop losing subscribers, and YouTube TV just recently jacked up the price to $65 per month. However, and in spite of most of these changes having taken place in 2020, fuboTV is currently servicing less subscribers than it did when the year started.
During the last quarter, FaceBank attributed the more significant loss in subscribers to the “seasonality of sports” and that’s likely to be something that has continued to affect the service, considering fuboTV’s reliance on that segment and the impact the COVID-19 pandemic has had on live sports in general. Due to the seasonal issue, FaceBank chooses to make year-over-year (instead of quarter-over-quarter) comparisons and on that basis, the service showed an increase compared to the 194,000 subscribers it had at the end of the second quarter in 2019.
Regardless of whether up or down, quarterly or yearly, the company says that it does expect the next quarter to be significantly better. In the announcement, FaceBank explained that it expects the number of paid subscribers to reach between 340,000 – 350,000 by the close of the third quarter.
Source: FaceBank Group