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fuboTV now expects to have closed out 2020 with more than 545,000 paid subscribers, according to the company’s fourth quarter preliminary results. This marks a fairly significant increase from the previous quarter, as well as the year before.
The sports-focused live TV streaming service ended the third quarter of 2020 with 455,000 paid subscribers. That in itself was notably, compared to previous quarters, with the company describing the increase as its strongest quarter to date.
Today the company released its fourth quarter preliminary results confirming the expectation of 545,000 paid subscribers. In addition, fuboTV expects the fourth quarter revenue to total between $94 and $98 million. Both of which are higher than what the company had previously predicted for the quarter. These are only preliminary results and subject to change with fuboTV expected to release confirmed quarterly and yearly results within the next few weeks.
Moving forward, fuboTV says the plan for 2021 is to “continue to be laser focused on executing our growth strategies” by focusing even more on advertising revenue and implementing sports wagering. All of which the company says it hopes will help in “further establishing fuboTV as a leader in sports and live streaming.”
Another good quarter for fuboTV
Following on from the third quarter and 2020 appears to have been a good year for fuboTV. Providing the expected subscriber number holds, it would represent a 72-percent year-over-year increase.
fuboTV tends to focus specifically on year-over-year changes and not quarterly, due to its emphasis on sports and the seasonality of the industry. However, even when comparing quarters, the fourth quarter was significantly up for fuboTV. The same is true for the previous quarters in 2020. fuboTV closed the first quarter of the year with 287,316 subscribers, effectively, doubling its subscriber base since then.
Both YouTube TV and Hulu Live TV monthly subscriptions increased in price during the last few months. With both competing services now costing $64.99 per month, they are priced exactly the same as fuboTV.
Whether the price rises have directly encouraged subscribers to try fuboTV remains to be seen, but it is a possibility. Although YouTube TV has massively increased its sports coverage in 2020 making it not only now more comparable on price, but also on content.
YouTube TV and Hulu Live TV have yet to confirm their end of year results. However, at the last count YouTube TV has more than three million subscribers while Hulu Live TV was at more than four million.