Note
1 - Organization and Nature of Business
Incorporation
fuboTV
Inc. (“fuboTV” or the “Company”) was incorporated under the laws of the State of Florida in February 2009 under
the name York Entertainment, Inc. The Company changed its name to FaceBank Group, Inc. on September 30, 2019. On August 10, 2020, the
Company changed its name to fuboTV Inc. and as of May 1, 2020, the Company’s trading symbol was changed from “FBNK”
to “FUBO.” The Company’s common stock was approved for listing on the New York Stock Exchange (“NYSE”)
in connection with a public offering in October 2020 and commenced trading on the NYSE on October 8, 2020.
Unless
the context otherwise requires, “fuboTV,” “we,” “us,” “our,” and the “Company”
refers to fuboTV and its subsidiaries on a consolidated basis.
Nature
of Business
The
Company is focused on developing its technology-driven IP in sports, movies, and live performances. The Company is principally focused
on offering consumers a leading live TV streaming platform for sports, news, and entertainment through fuboTV. The Company’s revenues
are almost entirely derived from the sale of subscription services and the sale of advertisements in the United States.
The
Company’s subscription-based streaming services are offered to consumers who can sign-up for accounts through which the Company
provides basic plans with the flexibility for consumers to purchase incremental features that include additional content or enhanced
functionality (“Attachments”) best suited for them. Besides the website, consumers can also sign-up via some TV-connected
devices. The fuboTV platform provides a broad suite of unique features and personalization tools such as multi-channel viewing capabilities,
favorites lists and a dynamic recommendation engine, as well as 4K streaming and Cloud DVR offerings.
During
the year ended December 31, 2021, the Company launched a business-to-consumer online sports wagering business (“Online Sportsbook”)
in the states of Iowa and Arizona. The Company is planning to launch in additional states during 2022 and 2023. During the three months
ended March 31, 2022, the Company paid $ 3.3
million for gaming licenses pursuant to market
access agreements with third parties in various states (See Note 7).
Free historical financial statements for fuboTV Inc..
See how revenue, income, cash flow, and balance sheet financials have changed over 19 quarters since 2020. Compare with FUBO stock chart to see long term trends.
Data imported from fuboTV Inc. SEC filings. Check original filings before making any investment decision.