Virtual MVPD fuboTV said it has seen double- and triple-digit growth across a handful of metrics year-over-year, with paid subscribers nearing the 250,000 mark as of September.
That is compared to 100,000 subscribers in September 2017, with more than 30,000 net additions during the third quarter, fuboTV announced Monday.
The live streaming TV service, which first launched in 2015 with a focus on soccer programming but has since expanded its content offering to news and entertainment, said it also exceeded an annual run rate of $100 million in September, up 259 percent compared to $28 million a year ago.
fuboTV’s average revenue per user (ARPU) is up 80 percent year over to $40, compared to $22 in September 2017. Time spent per user and app downloads also saw explosive growth of 364 percent and 418 percent, respectively. Average time spent per user jumped to 51 hours in September, up from 11 hours last year. Downloads in the same time period surged to 752,000, versus 145,000 a year ago.
At the beginning of 2018, fuboTV launched dynamic ad insertion, which helped ad revenue grow 84 percent sequentially from the first quarter to the second.
“What our team of less than 150 employees has built – from the ground, up, despite our competition having access to tens of thousands of engineers alone – impresses me every day, and it should put the streaming TV industry on notice,” said David Gandler, fuboTV co-founder and CEO, in a statement. “Our September results and year-over-year growth are proof of our success. We have and will continue to deliver the most optimal quality experience for our customers and strong value to our investors, as we take the company to the next level.”
fuboTV’s 92-channel base package costs $45 per month, while its fubo Extra package features about 110 channels for about $50 per month.
Subscriber-wise, fuboTV still lags compared to the largest vMVPD competitors. YouTube TV has about 800,000 subscribers and Hulu’s live streaming service surpassed the 1 million subscriber mark in September. Dish’s Sling TV and AT&T’s DirecTV, meanwhile, had 2.3 million and 1.8 million subscribers, respectively, as of the end of June.