Business major

fuboTV set to beat the boards | Large companies | Business | News

FuboTV’s preliminary fourth quarter 2021 results revealed that revenue and subscriber metrics are expected to exceed previously released guidance, resulting in a record quarter and year for the leading television broadcasting platform in direct on sport.
Specifically, preliminary fourth quarter results – excluding Molotov SAS, acquired by fuboTV in December 2021 – showed total revenue for 2021 is expected to be between $ 215 million and $ 220 million, an increase from 105 to 109 million. % year over year.

The previous forecast was $ 205-210 million for the quarter. For full year 2021, total revenue is expected to be in the range of $ 622 million to $ 627 million, an increase of 138-140% year-over-year. Previous forecasts were $ 612-617 million. Breaking that number down, fourth-quarter 2021 ad revenue is expected to exceed $ 25 million, an increase of over 90% year-over-year, and breaking through an annual execution rate of $ 100 million.
fuboTV expects to end the quarter with more than $ 375 million in cash, cash equivalents and restricted cash.

The number of paying subscribers at the end of the year is expected to exceed 1.1 million, more than double that recorded a year earlier. The previous forecast was 1.06 to 1.07 million subscribers at the end of the year. Subscriber churn rate is expected to improve in the quarter by more than 200 basis points year-over-year and, if materialized, would be the 13th consecutive quarter of rate improvement unsubscribe. The Subscriber Acquisition Cost (SAC) is expected to be in the lower end of the target range of 1.0 to 1.5 times the Average Monthly Revenue Per User (ARPU) for the quarter.

“FuboTV’s strong preliminary fourth quarter 2021 results close a pivotal year in which we made significant progress on our mission to define a new category of interactive sports and entertainment television,” said David Gandler, fuboTV co-founder and CEO, commenting on the preliminary result. announcement.

“This concludes a phenomenal year where we have increased our revenues by over 138% while progressing on the path to profitability… We are also very satisfied with the ongoing integration of Molotov, the live TV streaming platform. based in Paris which we acquired in December. Although still early, our progress to date continues to strengthen our belief that the synergies of the combined companies will give us operational leverage to build a scalable global platform with minimal additional expense. “