FuboTV CEO thinks 5 million people could subscribe by 2026

FuboTV CEO thinks 5 million people could subscribe by 2026

Article brief provided by CNBC
  • Alex Sherman, CNBC
August 18, 2021 10:11 PM
  • Alex Sherman, CNBC

While most of the global media and entertainment world is focused on transitioning from legacy pay TV to subscription streaming video, FuboTV is swimming upstream.

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The company has earned a $4 billion market capitalization by consistently adding subscribers to a digital bundle of linear networks with a heavy emphasis on sports programming. FuboTV has about 700,000 subscribers and last week raised its guidance to more than 900,000 paying customers by year-end.

CEO David Gandler is betting that 40 million to 50 million subscribers will sign up to so-called virtual MVPDS — internet-delivered bundles of linear networks — in the next five years. He told CNBC he believes his company can serve about 10% of the market.