Online streaming service FuboTV, which carries Newsmax, has announced that it has passed 1 million subscribers and posted record revenue for the third quarter.
The 6-year-old service, which began largely with soccer programming but has expanded to include more than 100 channels — including Newsmax in its basic package — announced triple-digit year-over-year growth, with 262,884 subscribers added in the three-month period ending Sept. 30.
Subscribers by the end of the third quarter stood at 944,605, a 108% increase, and has since surpassed the 1 million milestone.
Total revenue climbed to $156.7 million for the third quarter, a 156% jump, the company said, with advertising revenue jumping 147% to $18.6 million.
"FuboTV’s achievement of hitting the 1 million-subscriber mark since the third quarter ended is an extraordinary milestone by any measure but particularly remarkable given the momentum of our business over six short years," FuboTV founder and CEO David Gandler said in a release. "To put this in perspective, as of the end of the second quarter 2020, we had approximately 286,000 subscribers. And, even at the 1 million-subscriber mark, we believe we are still just scratching the surface of the massive opportunity ahead of us with 72.6 million subscribers still active on traditional pay television."
Along with its earnings report, the company also announced that it was acquiring France’s No. 1 streaming service, Molotov SAS.
Netflix is the No. 1 streaming service with 209 million subscribers, followed by Amazon Prime, 175 million, and Disney+ with 103 million, according to Screenrant.
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