FuboTV provides business updateMonday, October 15th, 2018
FuboTV Shows Double- and Triple-Digit Growth Across Key Metrics, Passing $100 Million Annual Growth Rate
- Live TV Streaming Startup Hits Financial High Marks Thanks to Focus on Innovation and User Experience, as it Competes Against Media and Tech Giants
NEW YORK — Leading independent live TV streaming service fuboTV is showing why it is one of the most exciting players in digital media by topping all-time highs in key performance metrics heading into the fourth quarter. This includes exceeding an annual run rate (ARR) of $100 million in September 2018, as well as surpassing company records for average revenue per user (ARPU), paid subscribers and time spent per subscriber, with double- and triple-digit, year-over-year growth across all of the above.
fuboTV Growth (September 2018)
- ARR: up +259% year-over-year, to $102 million in September 2018 vs. $28 million in September 2017
- ARPU: up +80% year-over-year, to $40 in September 2018 vs. $22 in September 2017
- Paid subscribers: up +100% year-over-year, approaching 250K in September 2018 vs. 100K in September 2017; Over 30K net additions during Q3
- Time spent per user: up +364% year-over-year, to 51 hours in September 2018 vs. 11 hours in September 2017
- App downloads: up +418% year-over-year, 752K total downloads as of September 2018 vs. 145K total downloads as of September 2017
fuboTV has continued to evolve from its initial launch in 2015 as a streaming soccer service, to a sports-first virtual MVPD, to its position today as a leading cable replacement for the entire family. Competing head-to-head with live TV streaming players owned by the world’s biggest media and tech giants, fuboTV is regularly first-to-market with technology innovations, product features, advertising offerings and content partnerships. For example:
- fuboTV was first to launch – before virtual MVPDs operated by AT&T, Alphabet, DISH Network, Hulu and Sony – 4K HDR Beta (in July 2018) with high resolution video streaming of the summer’s most exciting soccer match-ups. Since then, other content available as part of the Beta launch has included NCAA college football, MLB playoffs, English Premier League soccer – all firsts – plus entertainment programming coming soon.
- It was the first live TV streaming service to launch “dynamic discovery” (in September 2018) – an interface through which subscribers can browse live entertainment, news and sports programming via an in-progress preview directly on the home screen and seamlessly click to full video. fubo launched the interface on Apple TV and will roll it out platform-wide in the coming months.
- fuboTV was first to fully implement SCTE 224 blackout technology standards; and was among the first to launch Cloud DVR, 60FPS picture quality, in-app billing and more.
Additionally, fuboTV launched dynamic ad insertion in January 2018, ahead of Hulu with Live TV and YouTube TV. Since then, thousands of brands have advertised on fuboTV, with ad revenue growing 84% from Q1 to Q2.
These innovations continue to drive the company’s success in a highly-competitive space, along with a new national ad campaign, upgraded apps, an updated Cloud DVR and the launch of new channels both nationally (e.g., Turner networks) and locally (nearly 500 local channels spanning approximately 95% of U.S. markets). Additionally, fuboTV recently rolled out a refreshed home page on web that emphasizes the breadth of content now available with fuboTV across genres – from new TV premieres and movies, to more news channels than the competition at a time of heightened interest in political coverage, to the most intense fall sports matchups on earth.
“What our team of less than 150 employees has built – from the ground, up, despite our competition having access to tens of thousands of engineers alone – impresses me every day, and it should put the streaming TV industry on notice,” said David Gandler, fuboTV co-founder and CEO. “Our September results and year-over-year growth are proof of our success. We have and will continue to deliver the most optimal quality experience for our customers and strong value to our investors, as we take the company to the next level.”