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FuboTV approaching 250,000 streaming subscriber mark


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FuboTV approaching 250,000 streaming subscriber mark

Counting more than 30,000 net additions in the third quarter, virtual streaming provider fuboTV Inc. said it is approaching the 250,000 subscriber mark.

The independent streaming service reported that it surpassed the 100,000-subscriber plateau at the end of the third quarter of 2017.

The company also said its average run rate improved 259% to $102 million in September, up from $28 million in September of last year, with average revenue per subscriber almost doubling to $40 from $22 over the same periods.

The time spent per user jumped 364% year over year to 51 hours in September, from 11 hours in September 2017.

FuboTV, which said it launched dynamic ad insertion in January, before other virtual providers Hulu LLC's Hulu with Live TV and Google LLC's YouTube TV, has served commercials for thousands of brands, with ad revenue growing 84% from the first to second quarter.

Kicking off in 2015 as a soccer-centric offering, fuboTV has expanded its portfolio to include other sports and now features entertainment fare. The streaming service recently concluded a deal with AT&T Inc.'s Turner Broadcasting System Inc. for its portfolio of channels, including TNT (US), TNT and TBS (US), and has agreements with nearly 500 stations, affiliated or owned by NBC (US), FOX (US) and CBS (US), reaching 95% of U.S. TV households.

Among major programming groups, fuboTV has yet to sign a deal with Walt Disney Co., including ESPN (US) and its family of sports networks, as well as Viacom Inc.

The service features 30,000 sporting events annually and houses more than 10,000 series and movies on-demand on a monthly basis. The base package carries a monthly retail price tag of $44.99 per month and gives subscribers access to more than 75 channels; its Extra package comprises upward of 90 channels at a cost of $49.99 per month.