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.

    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.