Sports-focused streaming service FuboTV reported record earnings in Q4 2021, generating $231 million in revenue, a 119% increase year-over-year.
In addition to the strong quarter, the New York-based company posted record annual revenue of $638 million in FY2021, up from $261 million for the same period the year prior.
Since raising $183 million in its IPO in October 2020, FuboTV continues to grow.
- The company saw ad revenue reach $73 million in FY2021, up from $29 million in 2020.
- It closed FY2021 with 1.13 million paid subscribers, a 106% increase year-over-year.
Revenue in FY2021 included a $1 million impact from Molotov SAS. Last December, FuboTV acquired the French TV streaming service for $190 million. Molotov also operates in several African countries, including the Ivory Coast, Burkina Faso, Senegal, Morocco, and Cameroon.
In March 2021, FuboTV made its first investment in sports gambling with the acquisition of online sportsbook Vigtory. A month later, the company acquired exclusive streaming rights to the 2022 World Cup qualifying matches for the South America Football Confederation.
Last September, FuboTV inked a distribution deal with Root Sports, the home broadcaster of Gonzaga University basketball, the Seattle Mariners, the Seattle Kraken, and regional broadcasts of the Portland Trail Blazers.