FuboTV today announced its earnings for the third quarter of 2020 — and announced that it now has some 455,000 subscribers.
That keeps it at the tail end of our list of the largest live streaming television services in the United States, but also has it gaining significantly on AT&T TV Now, which sported some 683,000 subscribers as of Sept. 30, 2020. (And it's mostly been shedding subscribers the past couple years.)
FuboTV, which went public in October 2020, has been on the upswing. Its channel lineup is competitive. And while its packages became more expensive halfway through 2020, it still remains a solid option for those looking for something other than YouTube TV or Hulu With Live TV.
Everything is up and to the right. Revenue came in at $61.2 million, up 47 percent year over year. Subscription revenue was up 64 percent year over year at $53.4 million. And advertising revenue was up 153 percent year over year to $7.5 million.
“Q3 was the strongest quarter in fuboTV’s history, exceeding targets in all of our key metrics," David Gandler, co-founder and CEO of FuboTV, said in a press release. "A heavy sports calendar, busy news cycle and Hollywood’s fall entertainment season delivered many viewing options for consumers. We continued to grow fuboTV’s premium, personal viewing experience with the launch of new product features and new programming including Disney Media Networks (ABC, ESPN, many more), MLB Network, NBC News Now and more.”
Along with its Q3 earnings, FuboTV also announced that it has new content agreements with EPIX and STARZ and will offer premium subscriptions by the end of the year.
Fubo says its monthly active users watched an average of 121 hours per month for the quarter, up 20 percent year over year. Total content streamed came in at 133.3 million hours, up 83 percent. That includes both paid subscriptions and free trials.
Fubo's big claim to fame has been that it's offered some sporting events in upscaled 4K resolution. (No, it's not true 4K but, yes, it does make a difference.) That feature fell by the wayside while sports were shut down for the global pandemic, but 4K sports are back again now that leagues are in play. College football and the NFL are the only game in town for that, and you only get a couple of games per week in the higher resolution. Still, it's worth checking out.
The Standard package for FuboTV runs $59.99 a month. That'll get you 95 channels, 30 hours of cloud-based DVR, and the ability to stream on two devices at the same time. The next package up is Fubo Family, which ramps things up to 500 hours of DVR and three devices at once. Then there's Fubo Elite, which gives 153 channels, includes the Fubo Extra channels, 1,000 hours of DVR, and up to five devices at once.
Sports is where FuboTV really shines, though, and there are a number of add-on packages available on that front. That includes Sports Plus, which adds NFL RedZone, Stadium and others for $8.99 a month. There's also a cycling add-on, adventure add-on, Italian add-on and Spanish add-on. And if premium movies are more your thing, you can get Showtime for $10.99 a month, or AMC Premiere for $4.99 a month.
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