FuboTV Delivers Record Revenue in the Second Quarter and Raises Guidance
Author By Sophia VidaPosted on Live TV streaming platform fuboTV released its second quarter financial results and Wall Street was all over it.
The company reported record $130.9 million revenue and 681,721 total subscribers for the quarter ending June 30th, 2021.
Ad revenue for the second quarter saw a 281% increase YOY to $16.5 million, while grew engagement rose 148% YOY to 245 million hours.
Additionally the company upped its 2021 guidance.
“fuboTV delivered a strong second quarter of 2021 across all of our key financial and operational metrics: subscribers, total revenue and advertising revenue,” said David Gandler, co-founder and CEO, fuboTV.
“Engagement also reached record highs as we added exclusive sports streaming rights with CONMEBOL and began beta testing predictive, free-to-play gaming integrated into our streaming platform ahead of our expected launch this fall. Our Fubo Sportsbook with real-money wagering remains on track for a fourth quarter launch as we intend to further combine interactivity with streaming video. Our plans to launch a holistic and personalized user experience is evidenced by our sportsbook, which we’re excited to preview on our earnings call this afternoon.”
“We are very pleased with fuboTV’s performance in the first half of 2021 and believe that we are well positioned to continue to execute on our long-term financial and operating goals, all while delivering a differentiated and world-class experience to the consumer,” said Edgar Bronfman Jr., executive chairman, fuboTV.
“Our second quarter results showcase the continued momentum in our business, with consumers choosing fuboTV over more expensive legacy pay TV services due to our innovative product experience and customer-friendly approach at an affordable price.”
Complete second quarter 2021 results are detailed in fuboTV’s shareholder letter available on the company’s IR site.
Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.
