Fubotv Inc

FUBO

FuboTV (stylized as fuboTV) is an American streaming television service that focuses primarily on channels that distribute live sports, including NFL, MLB, NBA, NHL, MLS and international soccer, plus news, network television series and movies.Launched in January 2015 as a soccer streaming service, FuboTV changed to an all-sports service in 2017 and then to a virtual multichannel video programming distributor (vMVPD) model. As a vMVPD, FuboTV still calls itself sports-first but its expanded channel lineup targets cord cutters, offering a selection of major cable channels and OTT-originated features that can be streamed through smart TVs, mobile and tablets and the web. The service is available in the United States, Canada and Spain as of 2018. FuboTV is the only vMVPD to launch outside of North America.There are several service options with different channel lineups, including the base package, fubo Standard, with 100+ channels, and add-on packages like Extra, Sports Plus, fubo Cycling, Latino Plus and Português Plus.During its first five years, investors in FuboTV include AMC Networks, Luminari Capital, Northzone, Sky, and Scripps Networks Interactive. FuboTV was named to Forbes’ Next Billion-Dollar Startups list in 2019.In October 2018, FuboTV announced it was approaching 250,000 subscribers, a +100% increase over the prior year. It also had 30,000 net additions in Q3 2018, ahead of most of its larger competitors and a sign that interest in vMVPDs continues to grow.In January 2020, The Information website reported FuboTV currently has between 300,000 and 400,000 subscribers.On March 23, 2020, Bloomberg News reported FaceBank Group, a virtual entertainment technology company, entered into a merger agreement with fuboTV. Upon closing, the combined company will be named fuboTV and led by current fuboTV CEO David Gandler. According to the article, fuboTV plans to leverage Facebank's IP portfolio to create new streaming experiences for consumers and also expand internationally. FaceBank is traded on the OTC exchange and, following the merger, Gandler noted the company plans to uplist to a major stock exchange.Following its merger with FaceBank Group, FuboTV began trading on the OTC under the ticker symbol FUBO. The company announced its intention to uplist to a major stock exchange "in the coming months."After the merger, former Warner Music Group Chairman Edgar Bronfman Jr. was named Executive Chairman of the Board and early Spotify investor Par-Jorgen Parson and venture capitalist Daniel Leff was named to the Board. All three were early investors in FuboTV.FuboTV announced in May 2020 that it closed 2019 with nearly 316,000 paid subscribers.

Fubotv Inc has been a target of short sellers for a while. The current short interest of 22.48% is significantly below the average of the last 12 months (112.47%).