FuboTV achieves record year-on-year growth for Q4
FuboTV has announced its financial results for Q4 and the full year. The sports TV streaming platform expects to push total revenue over $1bn for 2022.
Despite $1m spent on the acquisition of French company Molotov, fuboTV achieved an increased revenue of 144% ($637m) over 2020.
Full-year results from fuboTV note a close to 2021 with a 106% (1.13 million) increase to paid subscribers, 185,000 of those coming in Q4. This increase has helped fuboTV to achieve record year-on-year (YoY) growth for the fourth quarter of 2021; this growth includes $230m in total revenue, up 119% YoY, and $25.9m in advertising revenue, up 98% YoY.
These year-on-year increases reflect a growth in customer streaming hours, which is up 96% YoY, with 404 million hours streamed during Q4.
FuboTV’s latest figures exceed preliminary results for the fourth quarter, which anticipated 1.1 million paid subscribers and $25m in advertising revenue. These subscription figures, which exceeded expectations, allowed fuboTV to benefit from inherent operating leverage and record higher unit economics.
Additional goals achieved by the company include lower subscriber acquisition costs and a lifted attach rate to 2.5 — achievements fuboTV hopes will take the company further down the path to affordability.
And with affordability in mind, the company is undoubtedly buoyed by a 9.7% positive adjusted contribution margin (ACM), an increase of 104 basis points (bps) compared to fuboTV’s normalised 2020 ACM.
Guidance for revenue and subscriber areas in 2022 has also been detailed, with fuboTV breaking down figures from North America and the rest of the world (which includes newly acquired French company Molotov), separately.
North American forecasts for Q1 2022 predicts revenue in the range of $232m-$237m, with FY revenue totaling between $1.08bn-$1.09bn. These forecasts would mark the first time fuboTV’s North American market has hit $1bn in generated revenue.
As for the rest of the world, fuboTV forecasts Q1 reaching revenues of $3m-$6m, with FY revenue of between $15m and $20m.
FuboTV Co-founder and CEO David Gandler has hailed the close of Q4 as marking an “extraordinary year, defined by delivering triple-digit year-over-year growth in total revenue.”
Gambling Insider delivers the latest industry news, in-depth features, and operator reviews that you can trust. Our team combines rigorous editorial standards with decades of specialized expertise to ensure accuracy and fairness. We are committed to delivering clear, impartial, and dependable coverage across the global gambling sector.
