Inside FuboTV’s Push Into Sports Betting and Pandemic Streaming Trends

Sean Burch
·1-min read

This time a year ago, things didn’t look so great for FuboTV. CEO David Gandler admitted as much during a recent interview with TheWrap, saying he was worried the sports-focused streaming service — suddenly faced with the reality that sports were going away for a while — was in “big trouble.” “We thought, ‘OK, well, worst case scenario, we lose 70-80% of our subscribers,'” Gandler told TheWrap. Instead, FuboTV found a way to roll with the punches, shifting its focus to connecting viewers with entertainment options they’d be compelled to watch. Ultimately, the service ended 2020 in a better place than where it started; FuboTV recently reported $105.1 million in revenues during Q4 — nearly double what it made during the same quarter a year earlier — and finished 2020 with nearly 547,880 subscribers, up 73% year-over-year. It cost a lot to make it happen — FuboTV lost $167.8 million last quarter — but investors seem more interested in the service’s growth potential right now, with the company’s share price up doubling since it hit the New York Stock Exchange in October. (The stock closed at $21.88 on Friday, which is down from a high of $62.00 last Dec. 22.)...

Read original story Inside FuboTV’s Push Into Sports Betting and Pandemic Streaming Trends At TheWrap