FuboTV drives new subscriptions and customer revenue in the first quarter of 2021
The first quarter ended with FuboTV's record high, which was able to add new subscribers and generate significant revenue growth.
FuboTV revenue and subscription growth
FuboTV performed well in the first quarter of the year ended March 31, 2021, showing consistent financial results throughout the period. The company recorded the strongest quarterly results in its history, with total revenues reaching $ 119.7 million, % growth year on year.
The TV streaming platform saw 43,000 net during this period and managed to generate $ 12.6 million through ad revenue, up 206% year after year. The Q12021 results are in line with the platform's record-breaking results for the full year in 2020.
FuboTV delivered its first-ever subscriber and revenue growth in "any first quarter" even though the pandemic continues, offering some limits to entertainment and sports. Commenting on these results, the CEO and co-founder of FuboTV David Gandler He welcomed the results of the first quarter and stated that they signaled better prospects for the company in the coming months.
“For the first time in the first quarter, we saw a sequential increase in revenue and subscriber numbers, despite past seasonality trends. This tells us that consumers are cutting the rope more and more " said Gandler.
Integrating Premium Content Solutions
Discussing the platform's success, Gandler explained that consumers were tempted by the platform's "higher value" and better "year-round content offering". Gandler touted the customer-centric approach that FuboTV took as the only way forward.
Speaking of the growing number of subscriptions, Gandler simply noted that he believed consumers would continue to flock to FuboTV and continue to research the products offered by the platform.
Executive President of FuboTV Edgar Bronfman He said the company remains steadfast in its mission to deliver a world-class TV viewing experience with an emphasis on premium programming to help sports fans get the experience they want, including interactivity and better integrated betting solutions. Pay TV towards sports programming with technology and user experience driving the data. Speaking of integrated solutions, FuboTV has teamed up with Bigotry to look for more opportunities to improve your sports betting and viewing experience at the same time.