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fuboTV closed out the third quarter of 2020 with 455,000 paid subscribers, marking a serious gain in users over the previous quarter. In fact, Q3 was credited with being the strongest quarter in the company’s history.
fuboTV might be one of the live TV streaming options consumers consider when switching between services or moving to streaming for the first time. However, it has seemingly struggled to make a major impact on the subscriber market. For example, Hulu Live TV and YouTube TV both now claim more than three million subscribers each, while Sling TV recently announced just under 2.5 million paid subscribers.
fuboTV has always attracted a less substantial subscriber base, although that may now be changing. As part of the company’s third quarter earnings release, fuboTV confirmed it had 455,000 paid subscribers, as of September 30, 2020. After also seeing a 47-percent year-over-year increase in total revenue, a 14-percent year-over-year increase in monthly Average Revenue Per User (ARPU), and an 83-percent year-over-year increase in hours streamed, fuboTV says the third quarter “delivered the strongest quarter in its history.”
A sign of change for fuboTV?
Although 455,000 paid subscribers is still far fewer than the millions announced by Hulu Live TV, YouTube TV, and Sling TV, as well as less than AT&T TV NOW (which keeps hemorrhaging subscribers each quarter), you only have to look at the growth within fuboTV to see what the latest number really means.
For example, in August of this year fuboTV confirmed its second quarter results. In spite of only being three months ago, the live TV streaming service only managed to accumulate 286,126 paid subscribers. An increase of almost 170,000 on 286,126 in those few months suggests fuboTV is starting to pick up subscribers at a much better rate than ever before.
Looking slightly further back and the impact becomes even clearer. When fuboTV’s first quarter results of the year came through, the service had 287,316 paid subscribers. So, although it saw a decline between the first and second quarters of the year, it has impressively bounced back in the third quarter.
Of course, fuboTV and its parent company FaceBank, tend to ignore quarter-over-quarter changes and prefer to focus on yearly fluctuations, due to how the ‘seasonality of sports’ affects the service. However, there’s no denying that whether looking at the third quarter through an annual or quarterly lens, an all-time high of 455,000 paid subscribers is very good news for fuboTV.
Source: fuboTV (Business Wire)