fuboTV Inc. (NYSE: FUBO), the leading sports-first live TV streaming platform, today announced its financial results for the fourth quarter and full-year ended December 31, 2021. The company also announced 2022 guidance, expecting to drive over $1 billion in total revenue this year.
“Engagement continues to be strong as we add differentiated content to our offering and focus on innovating our product to meet consumer preferences and drive a premium experience,” the company said in its shareholder letter.
FuboTV FUBO, -4.87% reported revenue of $231 million, which included $26.1 million in advertising revenue. Analysts tracked by FactSet were projecting $213.3 million in revenue.
Financial Highlights
fuboTV delivered a record annual revenue of $638 million in total revenue in 2021. It includes the $1 million impacts of the December 2021 acquisition of Molotov. Excluding Molotov, fuboTV’s total annual revenue was $637 million, an increase of 144% over 2020.
The company closed in 2021 with 1.13 million total paid subscribers, up 106% from the prior year. fuboTV added 185,000 net subscribers in the fourth quarter.
fuboTV also achieved record year-over-year (YoY) growth during the fourth quarter of 2021, including:
$231 million total revenue, including the $1 million impacts of Molotov. $230 million total revenue, up 119% YoY, excluding Molotov.
$26.1 million advertising revenue, including the $0.2 million impacts of Molotov.
$25.9 million revenue, up 98% YoY, excluding Molotov.
fuboTV customers streamed 404 million hours of content during the quarter, a 96% increase YoY.
What’s Next
The company offered revenue and subscriber forecasts for the first quarter and the full year, opting to break the metrics out geographically for the first time.
FuboTV expects that its North America streaming business will see $232 million to $237 million in revenue for the first quarter and $1.08 billion to $1.09 billion in revenue for the full year. The company noted that the first quarter is typically “softer” than the fourth.
The company’s projections call for 1.028 million to 1.033 million subscribers as of the first quarter and 1.50 million to 1.51 million subscribers as of year’s end.
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 U.S., Canada, Spain, and, through its acquisition of Molotov, in France.
Leveraging its proprietary data and technology platform optimized for live TV and sports viewership. The 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 U.S. subscribers more than 100 live sports, news, and entertainment networks. It is the only live TV streaming platform with every Nielsen-rated sports channel (source: Nielsen Total Viewers, 2021). Subscribers can interact with fuboTV’s live streaming experience through predictive free-to-play games, which are integrated into select sports content.
Fubo Gaming Inc., a subsidiary of fuboTV Inc., launched Fubo Sportsbook. A next-generation mobile sportsbook purpose-built to integrate with fuboTV, in 2021.
