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fuboT SHAREHOLDER LETTER March 2 , 2021 Fellow Shareholders , We are excited to share fuboTV's unaudited Q4 and full year 2020 financial results and recent business updates with you today . Building on a strong third quarter , fuboTV delivered a record fourth quarter exceeding for the first time $ 100 million in revenue . In addition , the company executed across all key performance indicators : revenue , average revenue per user ( ARPU ) , advertising average revenue per user ( ad ARPU ) , contribution margin and paid subscribers exceeding our previously announced guidance . Note : The Company states its key metrics on a year - over - year basis , given the seasonality of sports content . Unless otherwise stated , 2020 financials represent pro - forma fuboTV + FaceBank standalone and year - over - year comparisons refer to 2019 fuboTV pre - merger . U.S. GAAP 2020 as - reported financials include unaudited FaceBank pre - merger 1Q and FaceBank / fuboTV Q2 , Q3 and Q4 financials . 2020 Highlights Total revenue was up 83 % YoY to $ 268.8 million 。 U.S. GAAP as - reported revenue was $ 217.7 million • Advertising revenue grew 133 % YoY to $ 29.0 million Subscription revenue increased 73 % YoY to $ 230.7 million Adjusted Contribution Margin was positive 10.1 % ¹ , up from negative 3.1 % in 2019 • fuboTV reached 547,880 subscribers , up 73 % YoY • • Notably in 2H 2020 , fuboTV grew by 261,754 net subscriber additions Average Revenue Per User ( ARPU ) per month increased 17 % YoY to $ 62.84 Annualized ARPU increased $ 109 to $ 754 • Total content hours streamed grew 82 % YoY to 544.9 million hours Customers streamed 7.2 hours per day , up 11.8 % YoY 1Or 8.7 % normalized from a one - time benefit in content expenses in July 2020 .