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FuboTV lifts guidance for Q4 and FY amid 'very strong' Q3

Wednesday 16 September 2020 | 09:54 CET | News
Streaming TV service FuboTV’s shares have been approved to list on the New York Stock Exchange upon successful pricing of the offering. In a letter to shareholders, FuboTV also raised its guidance for the third quarter, saying performance has so far been “very strong,” with double digit revenue and subscription growth as well as improved retention, even amid the ongoing coronavirus pandemic. Forecasts have also gone up for the fourth quarter and full year. 

FuboTV expects revenues for Q3 to rise 27-38 percent year-on-year to USD 50-54 million, pulled up by continued subscriber growth, an increase in subscription ARPU and higher advertising sales. These are seen jumping 100 percent, with advertising at USD 6-7. 

The company has also lifted its subscriber guidance for the quarter to 370,000-380,000, an increase of 28 percent, boosted by the start of the NFL and fall sports season. The earlier guidance had been for growth of 20 percent. 

For Q4, revenues should leap 53-63 percent to USD 68-75 million, with a total of 410,000-420,000 subscribers at end December, up 30-33 per year. For FY 2020, revenues will climb over 50 percent to USD 220-231 million while for 2024, they will soar over 82 percent to USD 400-420 million.



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Categories: Broadcast & Satellite / Internet
Companies: FuboTV
Countries: United States
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