For the first time, Philo is revealing how many people subscribe to its $20-per-month service for cord cutters. The startup says it now has 750,000 subscribers, up 300% year over year. Philo says that makes it the fastest-growing live TV streaming service.
Philo is unique in that it doesn’t include any channels owned by Disney, NBCUniversal, or Fox. As such, it doesn’t have to carry the local broadcast channels or sports networks that drive up the cost of cable and satellite TV service. While other live TV streaming bundles have seen drastic price hikes over the past year, Philo has only raised prices once since launching in late 2017, eliminating a $16-per-month tier that included fewer channels.
With 750,000 subscribers, Philo is still well behind other streaming bundles such as Hulu + Live TV (which just reported 3.4 million subscribers) and YouTube TV (which last reported 2 million subscribers in February). Growth for those services is stalling, however, while Philo seems to be booming as a cheap alternative.