fuboTV Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>fuboTV Inc. has filed its 2023 annual report (10-K) detailing its financial performance and corporate history.</b>

AI Summary

fuboTV Inc. /FL (FUBO) filed a Annual Report (10-K) with the SEC on March 5, 2024. fuboTV Inc. filed its annual report for the fiscal year ended December 31, 2023. The filing is a Form 10-K, indicating a comprehensive overview of the company's financial performance and condition. The company's principal business address is 1290 Avenue of the Americas, New York, NY 10104. fuboTV Inc. was formerly known as FaceBank Group, Inc. and Pulse Evolution Group, Inc. The filing covers the period from January 1, 2023, to December 31, 2023.

Why It Matters

For investors and stakeholders tracking fuboTV Inc. /FL, this filing contains several important signals. This 10-K filing provides investors and stakeholders with the most up-to-date, audited financial information for fuboTV Inc., crucial for evaluating the company's performance and future prospects. Understanding the company's historical name changes and corporate evolution can provide context for its strategic shifts and market positioning over time.

Risk Assessment

Risk Level: medium — fuboTV Inc. /FL shows moderate risk based on this filing. The filing is a standard annual report (10-K), which typically contains detailed financial information and risk factors, but does not inherently signal immediate positive or negative developments beyond routine disclosure.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to assess fuboTV's financial health, revenue streams, and potential challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period covered by the 10-K)
• 2024-03-05 — Filing Date (Date the 10-K was filed)
• 001-39590 — SEC File Number (SEC registration number)

Key Players & Entities

• fuboTV Inc. (company) — Filer name
• FaceBank Group, Inc. (company) — Former company name
• Pulse Evolution Group, Inc. (company) — Former company name
• 1290 Avenue of the Americas (location) — Business address
• New York (location) — Business address city and state
• 10104 (location) — Business address zip code

FAQ

Industry Context

fuboTV operates in the streaming entertainment and sports media industry, competing with other subscription-based video-on-demand and live TV streaming services.

Regulatory Implications

As a publicly traded company, fuboTV is subject to the reporting requirements of the U.S. Securities and Exchange Commission (SEC), including the annual filing of Form 10-K.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into business performance and outlook.
3. Examine the Risk Factors section for potential challenges and uncertainties facing the company.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-05: Filing Date — Date fuboTV Inc. officially submitted its 10-K filing.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year 2023, providing a year-end summary compared to previous periods.

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share FUBO New York Stock Exchange
• $82.25 — RPU expansion efforts : Our NA ARPU was $82.25 and $72.74 for the year ended December
• $72.74 — on efforts : Our NA ARPU was $82.25 and $72.74 for the year ended December 31, 2023 an
• $6.82 — nd 2022, respectively. Our ROW ARPU was $6.82 and $6.14 for the year ended December 3
• $6.14 — espectively. Our ROW ARPU was $6.82 and $6.14 for the year ended December 31, 2023 an
• $115.4 m — s advertising revenue was approximately $115.4 million, up from approximately $101.7 mil
• $101.7 million — y $115.4 million, up from approximately $101.7 million in December 31, 2022. Improvements to o

Filing Documents

• fubo-20231231.htm (10-K) — 2476KB
• fubo-20231231exx48.htm (EX-4.8) — 25KB
• fubo-20231231exx231.htm (EX-23.1) — 2KB
• fubo-20231231exx311.htm (EX-31.1) — 10KB
• fubo-20231231exx312.htm (EX-31.2) — 10KB
• fubo-20231231exx321.htm (EX-32.1) — 7KB
• fubo-20231231exx971.htm (EX-97.1) — 27KB
• fubo-20231231_g1.jpg (GRAPHIC) — 259KB
• 0001628280-24-008632.txt (&nbsp;) — 13234KB
• fubo-20231231.xsd (EX-101.SCH) — 84KB
• fubo-20231231_cal.xml (EX-101.CAL) — 140KB
• fubo-20231231_def.xml (EX-101.DEF) — 503KB
• fubo-20231231_lab.xml (EX-101.LAB) — 1153KB
• fubo-20231231_pre.xml (EX-101.PRE) — 789KB
• fubo-20231231_htm.xml (XML) — 1718KB

Business

Business 6 Item 1A.

Risk Factors

Risk Factors 12 Item 1B. Unresolved Staff Comments 46 Item 1C. C ybersecurity 46 Item 2.

Properties

Properties 48 Item 3.

Legal Proceedings

Legal Proceedings 49 Item 4. Mine Safety Disclosures 50 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 51 Item 6. [Reserved] 52 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 52 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 70 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 71 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 71 Item 9A.

Controls and Procedures

Controls and Procedures 71 Item 9B. Other Information 74 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 74 PART III Item 10. Directors, Executive Officers and Corporate Governance 75 Item 11.

Executive Compensation

Executive Compensation 75 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 75 Item 13. Certain Relationships and Related Transactions, and Director Independence 75 Item 14. Principal Accountant Fees and Services 75 PART IV Item 15. Exhibit and Financial Statement Schedules 76 Item 16. Form 10-K Summary 81 2 Table o f Contents BASIS OF PRESENTATION As used in this Annual Report on Form 10-K ("Annual Report"), unless expressly indicated or the context otherwise requires, references to "fuboTV Inc.," "Fubo," "we," "us," "our," "the Company," and similar references refer to fuboTV Inc., a Florida corporation and its consolidated subsidiaries.

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These forward-looking statements, which are subject to a number of risks, uncertainties, and assumptions, generally relate to future events or our future financial or operating performance. In some cases, you can identify these statements by forward-looking words such as "believe," "may," "will," "estimate," "continue," "anticipate," "design," "intend," "expect," "could," "plan," "potential," "predict," "seek," "should," "would," "target," "project," "contemplate," or the negative version of these words and other comparable terminology that concern our expectations, strategy, plans, intentions, or projections. Forward-looking statements contained in this Annual Report include, but are not limited to, statements regarding our future results of operations and financial position, anticipated cash requirements, industry and business trends, stock-based compensation, revenue recognition, business strategy, plans and market growth, legal proceedings, and our objectives for future operations, including related to investment in our technologies and data capabilities, subscriber acquisition strategies, impacts of the dissolution of our gaming business, and our international operations. We have based the forward-looking statements contained in this Annual Report primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, results of operations, prospects, business strategy and financial needs. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including those described in Part I, Item 1A, "Risk Factors" of this Annual Report. These risks are not exhaustive. Other sections of this Annual Repo

Business

Item 1. Business. Our Mission With a global mission to aggregate the best in TV, including premium sports, news and entertainment content, through a single app, Fubo aims to transcend the industry's current TV model. Overview We are a sports-first, Pay TV replacement product offering subscribers access to tens of thousands of live sporting events annually, alongside leading news and entertainment content, both live and on demand. Fubo's platform is designed to empower customers to seamlessly access content through streaming devices and on Smart TVs, mobile phones, tablets, and computers. Live TV streaming has disrupted the traditional Pay TV model (linear video delivered via cable or satellite providers for a paid subscription), which we refer to as "Pay TV." This disruption has shifted billions of dollars in subscription and advertising revenue to over-the-top ("OTT") streaming platforms, as evidenced by the accelerating rate of Pay TV cord-cutting in the United States. Consumers increasingly favor the streaming experience, leading us to believe that advertisers will follow, further shifting dollars away from traditional linear TV advertising towards streaming services. Yet, despite being a growing share of overall consumption, live TV streaming is still a fraction of the size of traditional Pay TV. We believe this creates a significant opportunity for us to capitalize on the cord-cutting movement. We offer subscribers a live TV streaming service with the option to purchase incremental features, including additional content or enhanced functionality ("Attachments") best suited to their preferences. Our base plan, Fubo Pro, boasts a broad mix of top Nielsen-ranked channels across sports, news, and entertainment. Our core offering sits on a proprietary technology platform built specifically for live TV and sports viewership, leveraging our first-party data. This enables us to consistently introduce new features and functionalities. Unlike video on demand (VOD)-

View Full Filing

View this 10-K filing on SEC EDGAR