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Further, although the company did improve its adjusted contribution margin, which it defines as the average revenue per user subtracted by the average cost per user, fuboTV still generated an operating loss of $103 million on total revenue of $157 million. The market could be skeptical about a couple of acquisitions fuboTV announced along with the third-quarter earnings report. Unfortunately for shareholders, fuboTV's stock dropped by more than 10% in the hours after announcing results on Nov. The market is not impressed with fuboTV's Q3 That's a big opportunity for fuboTV to go after. According to estimates by MoffettNathanson, there are 72.6 million people on traditional pay-TV subscriptions. With a deadly virus in circulation, it's understandable that folks are more cautious about letting people into their homes.ĭespite the impressive growth fuboTV is putting together, it has a long runway to continue.
#Fubo tv professional
One of the annoyances of a traditional cable TV setup is that it requires a professional to come to your home for installation. The conveniences of the streaming alternative were highlighted during the pandemic when folks were hesitant to allow workers into their homes. Folks are increasingly finding fuboTV's service a better alternative than a traditional cable TV subscription. Looking at the end of Q3 results, the company boasted 945,000 paying subs, an impressive 108% increase from the same quarter last year when it had 450,000. One million subscribers means increased relevance, leverage and influence with content partners and leagues and the opportunity to go upstream on tentpole sports properties. The implications of this milestone are significant and far-reaching. To put this in perspective, as of the end of the second quarter 2020, we had approximately 286,000 subscribers. This is an extraordinary milestone by any measure but particularly remarkable given the momentum of our business over six short years. This is what fuboTV management had to say about the achievement in its third-quarter shareholder letter: Rather, the company eclipsed the milestone sometime after the end of the quarter and when it reported results on Nov. Interestingly, fuboTV did not surpass one million subscribers during its fiscal third quarter, which ended Sep. Let's dive deeper into the quarters' results. In that report, management revealed that the company has surpassed one million paying subscribers. The company is gaining momentum on the back of a tailwind that has consumers choosing to stream more of their content.įuboTV announced third-quarter financial results after the market closed on Nov. Institutional Distribution IntelligenceįuboTV (NYSE: FUBO) is a sports-centric streaming alternative to a traditional cable TV subscription.Non-Traditional Exchanges & New Markets.Directors’ and Officers’ Questionnaires.