"Our successful public offering in October demonstrated confidence in FuboTV's strategy, and investor excitement continued to grow," said Edgar Bronfman, executive president of FuboTV.
The platform claims that its average monthly revenue per user was US$ 67.70 in the third quarter, an increase of 14% over the previous year. FuboTV's revenues totaled US$ 61.2 million, an increase of 47% in relation to the previous year.
"We believe that FuboTV is firmly at the crossroads of three megatrends: the secular decline of traditional TV viewers, the shift in dollars from TV ads to connected TVs, and online sports betting, a market we intend to enter in. As a result, we believe that our growth opportunities are numerous,” added Bronfman.
On the other hand, FuboTV reported a net loss of US$274.1 million in the third quarter, which includes intangible losses of US$236.7 million for the FaceBank businesses, which acquired FuboTV and merged its businesses earlier this year before the IPO.
Source: MKTEsportivo
