Watch Out Hulu: Fubo TV Pulls In a Record Quarter

Watch Out Hulu: Fubo TV Pulls In a Record Quarter

Fubo TV remains committed to upsetting the traditional model of how sports are delivered.

Fubo TV, the Virtual Multichannel Video Programming Distributor (vMVPD) that concentrates heavily on sports, announced this week that it remains over the one million subscriber mark, although it lost over 70,000 subscribers in the first quarter.

The company also announced a record revenue of $236.7 million last quarter, a 98 percent increase over the same time the year before. The company announced last November that it had passed the one million number in subscribers.

Fubo TV’s subscriber count is still smaller than vMVPD competitors like Hulu + Live TV, which had 4.3 million subscribers as of the end of last year, and Sling TV, which had about 2.5 million, per Leichtman Research Group.

Most of Fubo TV’s live sports deals are in soccer, although there is also programming focused on other sports.

“We’re bringing more original programming and live sports to Fubo Sports Network than ever before,” Pamela Duckworth, head of Fubo Sports Network and original programming, said in the announcement.

“There are endless opportunities for brands to engage with fans through integrations with our award-winning shows and talent plus exclusive live sports like the UEFA Nations League this summer. We have even leveled up the viewing experience with free-to-play games and FanView, giving advertisers yet another way to reach audiences on Fubo Sports Network.”

Also, Fubo TV remains committed to upsetting the traditional model of how sports are delivered.

“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,” Edgar Bronfman Jr., executive chairman, FuboTV, said in the earnings announcement.

“Wagering remains an important pillar in our path to profitability and strategy to integrate interactivity into our live TV streaming experience. While striving to be the most compelling destination for cord cutters, fuboTV has started to enact a series of approaches to increase monetization, accelerate our ad sales business and further strengthen our unit economics.”

The announcement comes about three weeks after Netflix announced a disastrous quarter in which it lost subscribers for the first time in years. The company also issued a forecast projecting that it will lose a lot more in the second quarter.

While Netflix’s poor performance was attributed to everything from growing competition to a decline in programming quality, there have been concerns that other streaming services could suffer losses as well this season.

Stephen Silver, a technology writer for The National Interest, is a journalist, essayist and film critic, who is also a contributor to The Philadelphia Inquirer, Philly Voice, Philadelphia Weekly, the Jewish Telegraphic Agency, Living Life Fearless, Backstage magazine, Broad Street Review and Splice Today. The co-founder of the Philadelphia Film Critics Circle, Stephen lives in suburban Philadelphia with his wife and two sons. Follow him on Twitter at @StephenSilver.

Image: Reuters.