Ok, these are numbers that have to impress.
Excellent Quarter, Stock trading at $19.50 AM
LETTER TO SHAREHOLDERS IS ATTACHED
Q1 2021 Highlights ? Total revenue grew 135% YoY to $119.7 million
? Advertising revenue grew 206% YoY to $12.6 million
? Subscription revenue increased 131% YoY to $107.1 million
? fuboTV reached 590,430 subscribers, up 105% YoY and up 8% vs. Q4 2020
? Average Revenue Per User (ARPU) 1 per month increased 28% YoY to $69.09
? Advertising ARPU per month increased 57% YoY to $7.11
? Adjusted Contribution Margin was positive 5.3%, up 230 bps from 3.0% in Q1 2020
Live TV Streaming Platform Also Increased Ad Revenue 206% to $12.6M YoY
fuboTV Inc. (NYSE:FUBO), the leading sports-first live TV streaming platform, today announced its financial results for the first quarter ended March 31, 2021. The company closed the strongest first quarter in its history, delivering better-than-expected growth in subscribers (590,430, up 105% year-over-year, including 43,000 net additions in the quarter), total revenue ($119.7 million, up 135% year-over-year) and advertising revenue ($12.6 million, up 206% year-over-year). The quarter marked the first time fuboTV achieved sequential subscriber and revenue growth in any first quarter, despite seasonal trends.
Complete first quarter 2021 results are detailed in fuboTV’s shareholder letter available on the company’s IR site.
fuboTV also increased revenue and subscriber guidance for the full year 2021.
“The first quarter of 2021 was an inflection point for fuboTV,” said David Gandler, co-founder and CEO, fuboTV. “For the first time in any first quarter, we reported sequential revenue and subscriber growth, despite past seasonality trends. This tells us that consumers are increasingly cutting the cord. We believe they are choosing fuboTV, enticed by superior value, our year-round content offerings and a customer-centric, innovative consumer product experience relative to legacy pay TV (cable / satellite / telco). We see this trend continuing to accelerate as more consumers discover they can cut the cord without losing access to the sports teams, live channels and content they love.”
“As the shift of viewing from traditional pay TV accelerates, our differentiation in the marketplace - sports-focused programming, a tech-first and data-driven user experience and the planned integration of wagering and interactivity - firmly positions the company strongly for long-term growth,” said Edgar Bronfman Jr., executive chairman, fuboTV. “We remain steadfast in our mission to provide the world’s most thrilling sports-first live TV experience with the greatest breadth of premium content, interactivity and integrated wagering.”