Facebank +6.4% post Q1 results

Jul. 08, 2020 11:44 AM ETfuboTV Inc. (FUBO)By: Pranav Ghumatkar, SA News Editor1 Comment
  • FaceBank (NYSE:FUBO +6.4%) reports Q1 unaudited results from the acquired fuboTV, where revenue grew 78% Y/Y to $51.1M.
  • Subscription revenue increased 74% Y/Y to $46.4M and Advertising revenue increased 120% Y/Y to $4.1M.
  • Adj. contribution margin was positive reaching 3%, up from negative 13.6% Y/Y.
  • Total streaming hours by fuboTV users increased 120% Y/Y to 107.2M hours.
  • Monthly active users watched 120 hours/month on average, an increase of 52% Y/Y.
  • Paid subscribers at quarter end totaled 287,316, an increase of 37% Y/Y.
  • Average revenue per user per month was $54.16, an increase of 25% Y/Y.
  • The company strengthened its balance sheet with an additional $46M in equity funding from institutional and private investors since closing the merger.
  • The company received $20M from Credit Suisse Capital through a common stock issuance at $9.25 per share.
  • In Spain, signed an agreement with Viacom to bring MTV, Comedy Central, Nickelodeon and other channels to local streaming service.
  • Previously: FaceBank reports Q1 results (Jul. 08 2020)

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