fuboTV expects revenues of US$1bn this year after surpassing 1.3m subs

Sports-focused streamer fuboTV expects revenues in excess of US$1 billion this year after strong growth in 2021 when it closed the year with a record 1.3 million paying subscribers.

fuboTV posted revenues of US$638 million for the year, including a US$1 million boost from its acquisition of French streaming outfit Molotov.

The streamer recorded very strong subscriber growth during the year, with 185,000 net new subs in the fourth quarter contributing to an overall yearly growth rate of 106%.

The company posted revenue growth of 119% excluding Molotov in the fourth quarter.

The new figures published by the streamer yesterday surpass preliminary Q4 numbers released in January, when fuboTV said it had 1.1 million paying subs.

fuboTV now forecasts revenue of US$1.08 billion to US$1.09 billion in the US for 2022, supplemented by revenues of between US$15 million and US$20 million from its French and Spanish operations.

The company predicts North American subscribers totals of between 1.5-1.51 million and international subscriber totals of between 270,000-280,000 by the end of 2022.

fuboTV expects to launch its sports wagering Fubo Sportsbook offering – currently available in two US states – more widely this year. The company plans to launch its sports and entertainment platform more widely internationally on the back of the Molotov acquisition.

The streamer also plans to build on its advertising revenue stream following an alliance in Q4 with media agency Dentsu that enabled it to integrate the latter’s M1 data platform.

“fuboTV delivered a record fourth quarter and full year across a number of our key financial and operational metrics. Engagement continues to be strong as we add differentiated content to our offering and focus on innovating our product to meet consumer preferences and drive a premium experience. Our expansion into real-money wagering is underway with the launch of Fubo Sportsbook across two states with additional states expected to follow this year. This launch represents a differentiated and industry-first integration of streaming and a sports wagering product and we see ourselves in the very early innings of a massive opportunity,” said David Gandler, co-founder and CEO, fuboTV.

“Our fourth quarter closes out an extraordinary year defined by delivering triple-digit year-over-year growth in total revenues, advertising revenues and subscriber growth all while continuing to expand adjusted contribution margin,” said Edgar Bronfman Jr., executive chairman, fuboTV.

“Within the year, we achieved several important milestones, representing meaningful advancements towards our mission to build the world’s leading global live TV streaming platform with the greatest breadth of premium content, interactivity and integrated wagering. Our progress over the course of 2021 further fortifies our position to continue to execute on that mission in 2022.”