NEW YORK—Preliminary results for Q4 2021 and the full year, show that fuboTV’s subs more than doubled to 1.1 million in 2021, while revenue was expected to grow by 138% to 140% to somewhere between $622 million to $627 million, the company reported on January 10.
Those preliminary results exceeded previously issued guidance for Q4 and the full year.
The company issued the preliminary results prior to its participation at this week’s 24th Annual Needham Virtual Growth Conference.
“fuboTV’s strong preliminary fourth quarter 2021 results close out a pivotal year where we made meaningful advancements against our mission to define a new category of interactive sports and entertainment television,” said David Gandler, co-founder and CEO, fuboTV. “In the fourth quarter, we continued to deliver triple digit revenue growth, alongside operating leverage, through the efficient deployment of acquisition spend and the retention of high quality customer cohorts. This was evidenced by continued improvements in subscriber churn year-over-year within the quarter. This wraps up a phenomenal year where we grew revenue by over 138% while advancing towards our path to profitability.”
Other preliminary highlights include:
- Fourth quarter 2021 total revenue is expected to be between $215 million to $220 million, an increase of 105% to 109% year-over-year, the company said. Prior guidance was $205 million to 210 million for the quarter.
- Full year 2021 total revenue is expected to be between $622 million to $627 million, an increase of 138% to 140% year-over-year. Prior guidance was $612 million to $617 million.
- Fourth quarter 2021 advertising revenue is expected to be over $25 million, an increase in excess of 90% year-over-year, and crossing an annual run rate of $100 million.
- Paid subscribers at year-end are expected to exceed 1,100,000, an increase of more than 100% year-over-year. Prior guidance was 1,060,000-1,070,000 subscribers at year-end.
- Subscriber Acquisition Cost (SAC) is expected to be at the low end of the company’s target range of 1.0-1.5x monthly Average Revenue Per User (ARPU) for the quarter.
- Subscriber churn is expected to improve in the quarter by more than 200 basis points year-over-year. This marks the 13th consecutive quarter of churn improvements, the company reported.
These metrics exclude Molotov SAS, acquired by fuboTV in December 2021.
