Sports-betting-focused virtual MVPD company fuboTV announced fourth-quarter revenue of $230 million, a 119% year-over-year uptick that also beat the consensus estimates of equity analysts of around $215 million.
FuboTV added 185,000 subscribers from Oct. 1 - Dec. 31, finishing 2021 with 1.13 million customers, up 106% year over year.
Excluding $1 million in revenue from its recent acquisition of Molotov, fubTV finished the full 2021 calendar year with $637 million in total revenue, up 144%. The company, which is trying to develop sports betting features around its core vMVPD business, expects to generate $1 billion in 2022.
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FuboTV said customers spent 404 million on its platform in Q4, up 96% year over. 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," said David Gandler, co-founder and CEO of fuboTV. "Our expansion into real-money wagering is underway with the launch of Fubo Sportsbook across two states with additional states expected to follow this year. This launch represents a differentiated and industry-first integration of streaming and a sports wagering product and we see ourselves in the very early innings of a massive opportunity."
