NEW YORK – fuboTV today raised its subscriber guidance for Q3 2020 as a result of the start of NFL and the fall sports seasons. The company also issued 2020 and 2021 revenue and subscriber guidance in a letter to its shareholders. Additionally, fuboTV's common stock has been approved to list on the New York Stock Exchange, conditional upon successful pricing of this offering, under the ticker symbol "FUBO."
Revenues for the third quarter 2020 are expected to be $50-$54 million, a 27% to 38% increase year-over-year. This growth will be driven by continued subscriber growth, an increase in subscription Average Revenue Per User (ARPU) and growth of advertising sales.
Ad sales: the third quarter is expected to be fuboTV's highest revenue quarter of 2020, with a 100% year-over-year increase. Advertising ARPU is expected to be $6-$7.
The company is raising third quarter subscriber guidance to 370,000-380,000, an increase of over 28% year-over-year and up from 20% growth previously forecast. This is as a result of the start of the NFL and the fall sports seasons.
Issues Q4 2020 Guidance
Revenues for the fourth quarter are expected to be $68-$75 million, a 53% to 68% increase year-over-year.
The company expects to end the fourth quarter with 410,000-420,000 paid subscribers, an increase of 30% to 33% year-over-year.
Issues Full Year 2020 and Full Year 2021 Revenue Guidance
2021 revenue guidance: $400-420 million, an increase of over 82% year-over-year.
Read the full announcement here.