fuboTV Closed Q1 2022 with $236.7M Revenue, 1.056 Million Subscribers in North America
fuboTV Inc. (NYSE: FUBO) reported a record total revenue of $236.7 million for Q1 2022, marking a 98% year-over-year increase. The company also saw its advertising revenue grow 81% to $22.8 million and paid subscribers surge 81% to over 1 million. Internationally, fuboTV launched operations in France and Spain, with approximately 305,000 subscribers and $5.5 million in revenue. Despite these gains, the company faced challenges in advertising sales growth, impacting adjusted contribution margin.
- Record total revenue of $236.7 million for Q1 2022, up 98% YoY.
- Advertising revenue increased by 81% to $22.8 million.
- Paid subscribers rose by 81% to over 1 million.
- International expansion launched in France and Spain with 305,000 subscribers and $5.5 million in revenue.
- Pressure on adjusted contribution margin due to slower ad sales growth.
fuboTV’s North American (
The company also announced results for its Rest of World (
Complete first quarter 2022 results are detailed in fuboTV’s shareholder letter available on the company’s IR site.
“In our first quarter, against a challenging macro environment, fuboTV achieved strong growth in subscribers and revenue, with North American subscriber growth of
“We are committed to a business which replaces the decades-old basic cable package by giving consumers increased and improved content, ‘anytime anywhere’ access and mobility, increased choice and flexibility, personalization and interactivity - including gaming,” said
Live Webcast
Gandler and CFO
About fuboTV
With a mission to build the world’s leading global live TV streaming platform with the greatest breadth of premium content, interactivity and integrated wagering, fuboTV Inc. (NYSE: FUBO) aims to transcend the industry’s current TV model. fuboTV Inc. operates in the
Leveraging its proprietary data and technology platform optimized for live TV and sports viewership, fuboTV Inc. aims to turn passive viewers into active participants and define a new category of interactive sports and entertainment television. The company's sports-first cable TV replacement product, fuboTV, offers
Key Metrics
Paid Subscribers
We believe the number of paid subscribers is a relevant measure to gauge the size of our user base. Paid subscribers is defined as total subscribers that have completed registration with fuboTV, have activated a payment method (only reflects one paying user per plan), from which fuboTV has collected payment from in the month ending the relevant period. Users who are on a free (trial) period are not included in this metric.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements of fuboTV Inc. (“fuboTV”) that involve substantial risks and uncertainties. All statements contained in this press release that do not relate to matters of historical fact are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including statements regarding the Molotov acquisition, expected synergies of the technology platforms, our international expansion plans, our financial condition, anticipated financial performance, including quarterly and annual guidance and cash flow and Adjusted EBITDA targets, market opportunity and future plans regarding subscription levels, business strategy and plans, the continued shift in consumer behavior and the continued expansion of our wagering business. The words “could,” “will,” “plan,” “intend,” “anticipate,” “approximate,” “expect,” “potential,” “believe” or the negative of these terms or other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that fuboTV makes due to a number of important factors, including but not limited to risks related to our pursuit and engagement in acquisitions; our actual operating results may differ significantly from our guidance; risks related to fuboTV’s access to capital and fundraising prospects to fund its ongoing operations and support its planned growth; risks relating to diverting management’s attention from fuboTV’s ongoing business operations to address integration and fundraising efforts; the restrictions imposed by content providers on our distribution and marketing of our products and services; our reliance on third party platforms to operate certain aspects of our business; risks related to our technology, as well as cybersecurity and data privacy-related risks; our ability to achieve or maintain profitability; our revenue and gross profit are subject to seasonality; our operating results may fluctuate; our ability to attract and retain subscribers; we may not be able to license streaming content or other rights on acceptable terms; risks related to our ability to capitalize develop and market a sports wagering offering and the regulatory regime and related risks associated with such offering; risks related to the difficulty in measuring key metrics related to our business; risks related to the highly competitive nature of our industry; risks related to ongoing or future legal proceedings; and other risks, including the effects of industry, market, economic, political or regulatory conditions, future exchange and interest rates, and changes in tax and other laws, regulations, rates and policies, including the impact of COVID-19 on the broader market. Further risks that could cause actual results to differ materially from those matters expressed in or implied by such forward-looking statements are discussed in our Annual Report on Form 10-K for the full year ended
View source version on businesswire.com: https://www.businesswire.com/news/home/20220505005342/en/
Investors:
asternberg@fubo.tv
JCIR for fuboTV
ir@fubo.tv
Media:
jpress@fubo.tv
billion@fubo.tv
Source: fuboTV Inc.
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