FuboTV — the smallest of the live TV streaming services in the United States — continues its growth spurt. The service today announced that it added some 42,550 subscribers in the first three months of 2021 for a total of 590,430 subscribers as of the March 31, 2021. That's a 105 percent increase year over year, and above the guidance it gave in an update in March.
Revenue in Q1 was up 135 percent year over year to $119.7 million.
"The first quarter of 2021 was an inflection point for fuboTV," David Gandler, co-founder and CEO of FuboTV, said in his letter to shareholders. “For the first time in any first quarter, we reported sequential revenue and subscriber growth, despite past seasonality trends. This tells us that consumers are increasingly cutting the cord. We believe they are choosing fuboTV, enticed by superior value, our year-round content offerings and a customer-centric, innovative consumer product experience relative to legacy pay TV (cable / satellite / telco). We see this trend continuing to accelerate as more consumers discover they can cut the cord without losing access to the sports teams, live channels and content they love."
FuboTV now expects to eclipse 600,000 subscribers in the second quarter, and finish the year between 830 million and 850 million total subscribers.
FuboTV plans start at $65 a month for some 95 channels, 500 hours of cloud-based DVR, and the ability to watch on three devices at one time. The Fubo Elite plan costs $80 a month and gets you 153 channels, 1,000 hours of DVR, and the ability to watch on five devices at a time.
FuboTV also has a number of premium add-ons, including a some sports packages that simply can't be found elsewhere in the United States. FuboTV also is one of the only ways to watch the occasional lives sports in (upscaled) 4K resolution. It also has begun to dip its toes into online sports betting and will launch a sports book by 2022.
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