Q1 2020 revenue increased 78% YoY to $51.0 million, driven by growth in our subscriber base, subscription ARPU and advertising sales.
fuboTV’s revenue is primarily driven by monthly subscription and advertising sales:
In Q1 2020 subscription revenue increased 74% YoY to $46.4 million.
The advertising component to our revenues continued to rapidly grow and in Q1 2020 reached $4.1 million, up 120% YoY.
Adjusted Contribution Margin was positive reaching 3.0% in Q1 2020, up from negative (13.6)% in 1Q 2019
fuboTV users (paid and trial/free) streamed 107.2 million hours in Q1 2020, a 124% increase YoY.
fuboTV’s monthly active users (MAUs) watched 120 hours per month on average in the quarter, a 52% increase YoY.
We ended Q1 2020 with 287,316 paid subscribers, up 37% YoY.
Average Revenue Per User (ARPU) increased 25% YoY to $54.16.
We strengthened our balance sheet by adding $46 million in equity funding from institutional and private investors to date in 2020. Specifically, on July 2, 2020, we received over $20 million from Credit Suisse Capital at a purchase price of $9.25 per share.
Summary
Our strong first quarter is an indication of the health of the streaming business and fuboTV’s continued growth. While the pandemic continues to be an ongoing concern globally, shelter in place requirements have accelerated the adoption of streaming globally. We believe streaming has become more important than ever as a safe source of information and entertainment. As live sports begin to return, most without spectators, streaming hours are expected to continue to grow. We’ve already seen many of the international soccer leagues return and this month is expected to include the return of MLB, NBA and NHL. We are especially excited about the expected start of the NFL and college football seasons in August; with our upcoming launch of ESPN and Walt Disney Television (ABC), alongside our current channel lineup, fuboTV will have the most complete NFL game coverage of any vMVPD and major college football leagues for the first time.
We could not be more excited about fuboTV’s future and believe that our company is stronger than ever. We look forward to sharing more information with you, and will be attending a number of virtual investor conferences and fireside chats in the coming months.