Tsangs Group, a strategic investor to fuboTV (OTCQB: FUBO) is pleased to announce the following:
- fuboTV obtained approval to list on the New York Stock Exchange conditional upon successful pricing of this offering.
- Q3 2020:
Revenues are expected to be US$50-$54 million, a 27% to 38% increase year-over-year. Subscriber is expected to be 370,000-380,000, an increase of over 28% year-over-year and up from 20% growth previously forecast.
- Q4 2020:
Revenues are expected to be US$68-$75 million, a 53% to 68% increase year-over-year. Subscriber is expected to be 410,000-420,000, an increase of 30% to 33% year-over-year.
- Forecast Full Year 2020 & 2021: 2020:
Revenues are expected to be US$220-231 million, an increase of over 50% year-over-year. 2021: Revenues are expected to be US$400-420 million, an increase of over 82% year-over-year
- Equity Funding (Update):
Recently added US$52 million in equity funding from institutional and private investors. This is incremental to the US$20 million raised from Credit Suisse on July this year.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200915006220/en/fuboTV-Reports-StrongMomentum-Raises-Q3-Subscriber-Guidance.
fuboTV (OTCQB: FUBO) is the leading sports-first live TV streaming platform offering subscribers access to tens of thousands of live sporting events annually as well as leading news and entertainment content. fuboTV’s base package, fubo Standard, features a broad mix of 100+ channels, including 43 of the top 50 Nielsen-ranked networks across sports, news and entertainment (Primetime A18-49).
Continually innovating to give subscribers a premium viewing experience they can’t find with cable TV, fuboTV is regularly first-to-market with new product features and was the first virtual MVPD to stream in 4K.
fuboTV merged with FaceBank Group in April 2020 to create a leading digital entertainment company, combining fuboTV’s direct-to-consumer live TV streaming platform for cord-cutters with FaceBank’s technology-driven IP in sports, movies and live performances.
For more information, please visit: https://www.fubo.tv.
About Tsangs Group
Tsangs Group is an innovation-focused global family office that bridges East and West. Our mission is to invest in global opportunities that allow us to exert positive influence and drive positive impact in Hong Kong, Asia and beyond.
Headquartered in Hong Kong, Tsangs Group has direct investments across the world, we seek out positive impact investments that reflect our values of innovation, sustainability, and togetherness. Our strategy is opportunistic and both sector and location agnostic.
From fintech to entertainment to space travel, we are always investigating, analysing, and supporting the cutting edge of global innovation and development.
For more information, please visit: https://tsangsgroup.co/