FUBOTV INC. /FL, 10-K filed on 3/3/2025
Annual Report
v3.25.0.1
Cover - USD ($)
 12 Months Ended
Dec. 31, 2024
Feb. 28, 2025
Jun. 28, 2024
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2024    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 001-39590    
Entity Registrant Name fuboTV Inc. /FL    
Entity Incorporation, State or Country Code FL    
Entity Tax Identification Number 26-4330545    
Entity Address, Address Line One 1290 Avenue of the Americas    
Entity Address, City or Town New York    
Entity Address, State or Province NY    
Entity Address, Postal Zip Code 10104    
City Area Code 212    
Local Phone Number 672-0055    
Title of 12(b) Security Common Stock, par value $0.0001 per share    
Trading Symbol FUBO    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 396,581,855
Entity Common Stock, Shares Outstanding   341,476,595  
Documents Incorporated by Reference
Portions of the registrant’s definitive Proxy Statement relating to its 2025 Annual Meeting of Shareholders, to be filed with the SEC within 120 days after the end of the fiscal year ended December 31, 2024, are incorporated herein by reference in Part III.
    
Entity Central Index Key 0001484769    
Document Fiscal Period Focus FY    
Document Fiscal Year Focus 2024    
Amendment Flag false    
v3.25.0.1
Audit Information
 12 Months Ended
Dec. 31, 2024
Auditor Information [Abstract]  
Auditor Location New York, NY
Auditor Name KPMG LLP
Auditor Firm ID 185
v3.25.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 161,435 $ 245,278
Accounts receivable, net 71,078 80,299
Prepaid sports rights 24,821 39,911
Prepaid and other current assets 16,699 20,804
Assets of discontinued operations 0 462
Total current assets 274,033 386,754
Property and equipment, net 6,080 4,835
Restricted cash 6,137 6,142
Intangible assets, net 133,703 158,448
Goodwill 615,399 622,818
Right-of-use assets 31,837 35,825
Other non-current assets 10,239 17,818
Total assets 1,077,428 1,232,640
Current liabilities    
Accounts payable 67,844 74,311
Accrued expenses and other current liabilities 335,967 320,041
Notes payable 7,024 6,323
Deferred revenue 98,421 90,203
Long-term borrowings - current portion 1,042 1,612
Current portion of lease liabilities 5,024 5,247
Liabilities of discontinued operations 0 19,608
Total current liabilities 515,322 517,345
Convertible notes, net 332,383 391,748
Lease liabilities 32,951 38,087
Other long-term liabilities 15,990 1,635
Total liabilities 896,646 948,815
COMMITMENTS AND CONTINGENCIES (Note 15)
Shareholders’ equity:    
Common stock par value $0.0001: 1,000,000,000 shares authorized; 339,144,854 and 299,215,160 shares issued and outstanding at December 31, 2024 and December 31, 2023, respectively 34 30
Additional paid-in capital 2,219,002 2,136,870
Accumulated deficit (2,017,796) (1,845,542)
Non-controlling interest (15,588) (11,751)
Accumulated other comprehensive (loss) income (4,870) 4,218
Total shareholders’ equity 180,782 283,825
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,077,428 $ 1,232,640
v3.25.0.1
Consolidated Balance Sheets (Parenthetical) - $ / shares
Dec. 31, 2024
Dec. 31, 2023
Statement of Financial Position [Abstract]    
Common stock, par or stated value (in usd per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 1,000,000,000 1,000,000,000
Common stock, shares, issued (in shares) 339,144,854 299,215,160
Common stock, shares, outstanding (in shares) 339,144,854 299,215,160
v3.25.0.1
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues      
Revenues $ 1,622,796 $ 1,368,225 $ 1,008,696
Operating expenses      
Subscriber related expenses 1,361,011 1,213,253 976,415
Broadcasting and transmission 57,874 68,824 73,377
Sales and marketing 202,489 207,045 183,615
Technology and development 80,009 67,675 69,264
General and administrative 75,073 64,282 81,151
Depreciation and amortization 38,548 36,496 36,731
Impairment of other assets 3,813 0 0
Total operating expenses 1,818,817 1,657,575 1,420,553
Operating loss (196,021) (289,350) (411,857)
Other income (expense)      
Interest expense (20,852) (13,712) (14,194)
Interest income 7,157 10,971 2,498
Amortization of debt premium (discount), net 1,224 (2,574) (2,476)
Gain on extinguishment of debt 29,513 1,607 0
Change in fair value of warrant liabilities 0 0 (1,701)
Other income (expense) 1,860 (923) 1,019
Total other income (expense) 18,902 (4,631) (14,854)
Loss from continuing operations before income taxes (177,119) (293,981) (426,711)
Income tax (provision) benefit (659) 879 1,666
Net loss from continuing operations (177,778) (293,102) (425,045)
Discontinued operations      
Net income (loss) from discontinued operations before income taxes 1,687 5,185 (136,874)
Income tax (provision) benefit 0 0 0
Net income (loss) from discontinued operations 1,687 5,185 (136,874)
Net loss (176,091) (287,917) (561,919)
Less: Net loss attributable to non-controlling interest 3,837 463 442
Net loss attributable to common shareholders (172,254) (287,454) (561,477)
Other comprehensive income (loss)      
Foreign currency translation adjustment (9,088) 4,822 (767)
Comprehensive loss attributable to common shareholders $ (181,342) $ (282,632) $ (562,244)
Net loss per share attributable to common shareholders      
Basic loss per share from continuing operations (in dollars per share) $ (0.54) $ (1.06) $ (2.33)
Diluted loss per share from continuing operations (in dollars per share) (0.54) (1.06) (2.33)
Basic income (loss) per share from discontinued operations (in dollars per share) 0 0.02 (0.75)
Diluted income (loss) per share from discontinued operations (in dollars per share) 0 0.02 (0.75)
Basic loss per share (in usd per share) (0.54) (1.04) (3.08)
Diluted loss per share (in usd per share) $ (0.54) $ (1.04) $ (3.08)
Weighted average shares outstanding:      
Basic (in shares) 319,653,763 276,282,572 182,472,069
Diluted (in shares) 319,653,763 276,282,572 182,472,069
Subscription      
Revenues      
Revenues $ 1,500,101 $ 1,249,579 $ 905,886
Advertising      
Revenues      
Revenues 115,200 115,370 101,739
Other      
Revenues      
Revenues $ 7,495 $ 3,276 $ 1,071
v3.25.0.1
Consolidated Statements of Stockholders' Equity - USD ($)
$ in Thousands
Total
Cumulative Effect, Period of Adoption, Adjustment
Common Stock
Additional Paid-In Capital
Additional Paid-In Capital
Cumulative Effect, Period of Adoption, Adjustment
Accumulated Deficit
Accumulated Deficit
Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss)
Non-controlling Interest -
Beginning balance (in shares) at Dec. 31, 2021     153,950,895            
Beginning balance at Dec. 31, 2021 $ 670,881 $ (75,264) $ 16 $ 1,691,206 $ (87,946) $ (1,009,293) $ 12,682 $ 172 $ (11,220)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of common stock/At-the-market offering, net of offering costs (in shares)     50,620,577            
Issuance of common stock/At-the-market offering, net of offering costs 292,155   $ 5 292,150          
Exercise of common stock warrants (in shares)     540,541            
Exercise of common stock warrants 10,249     10,249          
Exercise of stock options (in shares)     616,304            
Exercise of stock options 829     829          
Delivery of common stock underlying restricted stock units (in shares)     1,956,231            
Issuance of restricted stock (in shares)     2,000,000            
Stock-based compensation 65,518     65,518          
Foreign currency translation adjustment (767)             (767)  
Net loss attributable to non-controlling interest (442)               (442)
Net loss attributable to common shareholders (561,477)         (561,477)      
Ending balance (in shares) at Dec. 31, 2022     209,684,548            
Ending balance at Dec. 31, 2022 $ 401,682   $ 21 1,972,006   (1,558,088)   (595) (11,662)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Accounting standards update Accounting Standards Update 2020-06 [Member]                
Issuance of common stock/At-the-market offering, net of offering costs (in shares)     81,694,729            
Issuance of common stock/At-the-market offering, net of offering costs $ 116,889   $ 8 116,881          
Exercise of stock options (in shares)     339,842            
Exercise of stock options 373     373          
Delivery of common stock underlying restricted stock units (in shares)     3,729,918            
Cancellation of escrow shares in connection with Edisn acquisition (in shares)     (12,595)            
Cancellation of escrow shares in connection with Edisn acquisition (344)     (344)          
Issuance of restricted stock (in shares)     3,778,718            
Issuance of restricted stock 4,199   $ 1 4,198          
Stock-based compensation 44,620     44,620          
Molotov non-controlling interest (499)     (864)       374 (9)
Foreign currency translation adjustment 4,822             4,822  
Net loss attributable to non-controlling interest (463)               (463)
Net loss attributable to common shareholders $ (287,454)         (287,454)      
Ending balance (in shares) at Dec. 31, 2023 299,215,160   299,215,160            
Ending balance at Dec. 31, 2023 $ 283,825   $ 30 2,136,870   (1,845,542)   4,218 (11,751)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of common stock/At-the-market offering, net of offering costs (in shares)     33,218,851            
Issuance of common stock/At-the-market offering, net of offering costs 43,310   $ 3 43,307          
Exercise of common stock warrants (in shares)     4,042            
Exercise of common stock warrants $ 3     3          
Exercise of stock options (in shares) 4,042                
Delivery of common stock underlying restricted stock units (in shares)     6,706,801            
Delivery of common stock underlying restricted stock units $ 0   $ 1 (1)          
Shares settled for taxes (540)     (540)          
Stock-based compensation 39,363     39,363          
Foreign currency translation adjustment (9,088)             (9,088)  
Net loss attributable to non-controlling interest (3,837)               (3,837)
Net loss attributable to common shareholders $ (172,254)         (172,254)      
Ending balance (in shares) at Dec. 31, 2024 339,144,854   339,144,854            
Ending balance at Dec. 31, 2024 $ 180,782   $ 34 $ 2,219,002   $ (2,017,796)   $ (4,870) $ (15,588)
v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Net loss $ (176,091) $ (287,917) $ (561,919)
Less: Net income (loss) from discontinued operations, net of tax 1,687 5,185 (136,874)
Net loss from continuing operations (177,778) (293,102) (425,045)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 38,548 36,496 36,731
Stock-based compensation 42,510 51,215 52,454
Impairment of other assets 3,813 0 0
Gain on extinguishment of debt (29,513) (1,607) 0
Amortization of debt (premium) discount, net (1,224) 2,574 2,476
Deferred income tax provision (benefit) 218 (995) (1,666)
Change in fair value of warrant liabilities 0 0 1,701
Amortization of right-of-use assets 3,988 3,126 3,078
Other adjustments 700 695 1,155
Changes in operating assets and liabilities of business, net of acquisitions:      
Accounts receivable, net 9,034 (36,200) (9,778)
Prepaid expenses and other assets 7,649 (14,498) (950)
Prepaid sports rights 15,389 (1,525) (34,384)
Accounts payable (5,748) 6,635 12,014
Accrued expenses and other liabilities 13,639 52,180 50,116
Deferred revenue 8,348 24,774 21,102
Lease liabilities (5,200) (2,813) 1,210
Net cash used in operating activities - continuing operations (75,627) (173,045) (289,786)
Net cash used in operating activities - discontinued operations (3,851) (4,577) (26,915)
Net cash used in operating activities (79,478) (177,622) (316,701)
Cash flows from investing activities      
Purchases of short-term investments 0 0 (100,000)
Proceeds from maturity of short-term investments 0 0 100,000
Purchases of property and equipment (2,727) (1,071) (1,130)
Proceeds from sale of property and equipment 0 28 0
Capitalization of internal use software (11,468) (17,282) (4,857)
Purchase of intangible assets (1,640) (3,592) 0
Purchase of strategic investment 0 (3,500) 0
Net cash used in investing activities - continuing operations (15,835) (25,417) (5,987)
Net cash used in investing activities - discontinued operations 0 0 (6,436)
Net cash used in investing activities (15,835) (25,417) (12,423)
Cash flows from financing activities      
Proceeds from the issuance of common stock, net of offering costs 43,296 116,886 292,123
Redemption of non-controlling interest 0 (2,147) 0
Repurchase of convertible notes (26,557) (3,313) 0
Vested restricted stock units settled for cash (181) (125) 0
Payments for financing costs (4,682) 0 0
Proceeds from exercise of stock options 3 373 829
Proceeds from the exercise of warrants 0 0 5,000
Repayments of notes payable and long-term borrowings (414) (441) (1,682)
Net cash provided by financing activities - continuing operations 11,465 111,233 296,270
Net cash provided by financing activities - discontinued operations 0 0 0
Net cash provided by financing activities 11,465 111,233 296,270
Net decrease in cash, cash equivalents and restricted cash (83,848) (91,806) (32,854)
Cash, cash equivalents and restricted cash at beginning of period 251,420 343,226 376,080
Cash, cash equivalents and restricted cash at end of period 167,572 251,420 343,226
Supplemental disclosure of cash flows information:      
Interest paid 14,940 13,169 13,786
Income tax paid 251 258 0
Non cash financing and investing activities:      
Reclassification of the equity components of the 2026 Convertible Notes to liability upon adoption of ASU 2020-06 0 0 75,264
Strategic investment - marketing commitment 0 4,000 0
Cashless exercise of warrants 0 0 5,249
Unpaid intangible assets included in accounts payable 50 540 0
Unpaid financing costs included in accounts payable 0 15 18
Unpaid property and equipment included in accounts payable $ 0 $ 12 $ 0
v3.25.0.1
Organization and Nature of Business
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Organization and Nature of Business Organization and Nature of Business
Incorporation
fuboTV Inc. (“Fubo” 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, “Fubo,” “we,” “us,” “our,” and the “Company” refers to the Company and its subsidiaries on a consolidated basis.
Nature of Business
The Company is principally focused on offering consumers a leading live TV streaming platform for sports, news, and entertainment through its streaming platform. The Company’s revenues are almost entirely derived from the sale of subscription services and the sale of advertisements in the United States, though the Company has expanded into several international markets, with operations in Canada, Spain and France.
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 Fubo 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.
v3.25.0.1
Liquidity, Going Concern and Management Plans
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Liquidity, Going Concern and Management Plans Liquidity, Going Concern and Management Plans
The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business.
The Company had cash and cash equivalents and restricted cash of $167.6 million, working capital deficit of $241.3 million and an accumulated deficit of $2,017.8 million as of December 31, 2024. The Company incurred a net loss from continuing operations of $177.8 million for the year ended December 31, 2024. Since inception, the Company’s operations have been financed primarily through the sale of equity and debt securities. The Company has incurred losses from operations and negative cash flows from operating activities since inception and expects to incur substantial losses.As discussed further in Note 13, during the year ended December 31, 2024, the Company received net proceeds of approximately $43.3 million (after deducting $1.0 million in commissions and expenses) from sales of 33,218,851 shares of its common stock, at a weighted average gross sales price of $1.33 per share, pursuant to at-the-market sales agreement with its sales agents.
As discussed further in Note 10, during the year ended December 31, 2024, the Company completed the repurchase of $46.9 million principal amount of the 2026 Convertible Notes for $27.1 million, including accrued interest.
As discussed in Note 16, the Company settled its antitrust litigation against Disney, Fox, and WBD and their affiliates (collectively, the “Defendants”). In conjunction therewith, the Defendants made an aggregate cash payment to the Company of $220.0 million in January 2025.
The Company believes that its current cash and cash equivalents provide it with the necessary liquidity to continue as a going concern for at least one year from the date of issuance of these financial statements. Our future capital requirements and the adequacy of our available funds will depend on many factors, including our ability to successfully attract and retain subscribers and compete in rapidly changing market with many competitors.
In addition to the foregoing, the Company cannot predict the potential impact on its development timelines, revenue levels and its liquidity due to macroeconomic factors, including inflationary cost pressures and potential recession indicators, which depend on factors beyond the Company's knowledge or control. Based upon the Company’s current assessment, it does not expect the impact of macroeconomic factors to materially impact the Company’s operations. However, the Company is continuing to assess the impact that the macroeconomic factors may have on its operations, financial condition and liquidity.
v3.25.0.1
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Principles of Consolidation and Basis of Presentation
The Company’s consolidated financial statements include the accounts of the Company and the accounts of the Company’s wholly-owned subsidiaries, its non-wholly owned subsidiaries where the Company has a controlling interest and variable interest entities ("VIE") formed in connection with the Company's collaboration with Maximum Effort, defined below, on the launch and distribution of the Maximum Effort Channel, and production and development of original programming (the "MEC Entities"). Generally accepted accounting principles require that if an entity is the primary beneficiary of a VIE, the entity should consolidate the assets, liabilities and results of operations of the VIE in its consolidated financial statements. The primary beneficiary is the party that has both of the following: (i) the power to direct the activities that most significantly impact the economic performance of the VIE, and (ii) the obligation to absorb the losses or rights to receive the benefits of the entity that could potentially be significant to the VIE. The Company considers itself to be the primary beneficiary of the MEC Entities and accordingly, has consolidated these entities since their formation in 2023, with the equity interests of the unaffiliated investors presented as non-controlling interests in the accompanying consolidated financial statements. All intercompany balances and transactions have been eliminated in consolidation.
At December 31, 2024 and 2023, total assets of the consolidated VIE were $5.1 million and $13.5 million, respectively, and total liabilities of the consolidated VIE were $43.4 thousand and $3.0 million, respectively and are reflected in the Company's consolidated balance sheets.
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management bases its estimates on historical experience and on various other assumptions it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates. Those estimates and assumptions include allocating the fair value of purchase consideration to assets acquired and liabilities assumed in business acquisitions, useful lives of property and equipment and intangible assets, recoverability of goodwill and intangible assets, accruals for contingent liabilities, equity instruments issued in share-based payment arrangements, and accounting for income taxes, including the valuation allowance on deferred tax assets.
Segment and Reporting Unit Information
Operating segments are defined as components of an entity for which discrete financial information is available that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The Company’s Chief Executive Officer is determined to be the CODM. The CODM reviews financial information and makes resource allocation decisions at the consolidated group level. The Company has one operating segment as of December 31, 2024, the streaming business.
Cash and Cash Equivalents and Restricted Cash
The Company considers all highly liquid investments with remaining maturities at the date of purchase of three months or less to be cash equivalents, including balances held in the Company’s money market accounts. Restricted cash primarily represents cash on deposit with financial institutions in support of a letter of credit outstanding in favor of the Company’s landlord for office space. The restricted cash balance has been excluded from the cash balance and is classified as restricted cash on the consolidated balance sheets.
The following table provides a reconciliation of cash and cash equivalents and restricted cash within the consolidated balance sheets that sum to the total of the same on the consolidated statement of cash flows (in thousands):
December 31,
20242023
Cash and cash equivalents$161,435 $245,278 
Restricted cash6,137 6,142 
Total cash and cash equivalents and restricted cash$167,572 $251,420 
Certain Risks and Concentrations
Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of demand deposits and accounts receivable. The Company maintains cash deposits with financial institutions that at times exceed applicable insurance limits.
The majority of the Company’s software and computer systems utilize data processing, storage capabilities and other services provided by Google Cloud Platform and Amazon Web Services, which cannot be easily switched to another cloud service provider. As such, any disruption of the Company’s interference with Google Cloud Platform and Amazon Web Services could adversely impact the Company’s operations and business.
Fair Value Estimates
The carrying amounts of the Company’s financial assets and liabilities, such as cash, other assets, accounts payable and accrued payroll, approximate their fair values because of the short maturity of these instruments. The carrying amounts of notes payable and long-term borrowings approximate their fair values due to the short-term maturity and the fact that the effective interest rates on these obligations are comparable to market interest rates for instruments of similar credit risk.
Fair Value of Financial Instruments
The Company accounts for financial instruments under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurements. This statement defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements, ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows:
Level 1 —    quoted prices (unadjusted) in active markets for identical assets or liabilities;
Level 2 —    observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and
Level 3 —    assets and liabilities whose significant value drivers are unobservable.
Accounts Receivable, net
The Company records accounts receivable at the invoiced amount less an allowance for any potentially uncollectible accounts. The Company’s accounts receivable balance primarily consists of amounts due from the sale of advertisements and subscription revenue. In evaluating our ability to collect outstanding receivable balances, we consider many factors, including the age of the balance, collection history, and current economic trends. Bad debts are written off after all collection efforts have ceased. Based on the Company’s current and historical collection experience, management concluded that an allowance for credit losses was not necessary as of December 31, 2024 and 2023.
No individual customer accounted for more than 10% of revenue for the year ended December 31, 2024, 2023, and 2022. As of December 31, 2024 and 2023, one customer accounted for more than 10% of accounts receivable.
Property and Equipment, Net
Property and equipment is stated at cost, net of accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are depreciated over the shorter of the lease term or the estimated useful life of the assets. When assets are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the consolidated statements of operations and comprehensive loss in the period realized. Maintenance and repairs are expensed as incurred.
Licensed Content
The Company entered into various license agreements to obtain rights to certain live sports events. Costs incurred in acquiring certain rights to live sporting events are accounted for in accordance with ASC 920, Entertainment—Broadcasters (“ASC 920”). These program rights are recorded in subscriber related expenses in a manner consistent with how it expects to monetize the licensed content, which is primarily based on subscription revenue.
Cash flows for licensed content are presented within operating activities in the consolidated statements of cash flows.
Impairment Testing of Long-Lived Assets
The Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that their net book value may not be recoverable. When such factors and circumstances exist, the Company compares the projected undiscounted future cash flows associated with the related asset or group of assets over their estimated useful lives against their respective carrying amount. Impairment, if any, is based on the excess of the carrying amount over the fair value and is recorded in the period in which the determination is made. Fair value is based on those assets' market value when available or discounted expected cash flows .
In August 2022, the Company initiated a strategic review of Fubo Sportsbook, and in October 2022 ceased operations of Fubo Sportsbook in connection with the dissolution of Fubo Gaming. For the year ended December 31, 2022, the Company recognized an aggregate non-cash impairment charge of $76.7 million which represented substantially all of the long-lived assets of Fubo Sportsbook which is recorded in loss from discontinued operations in the consolidated statement of operations and comprehensive loss.
Exit and Disposal Costs
The Company accounts for exit or disposal activities, including termination of a line of business or restructuring, in accordance with ASC 420 , Exit or Disposal Cost Obligations. The Company defines a business restructuring as an exit or disposal activity that includes but is not limited to a program which is planned and controlled by management and materially changes either the scope of a business or the manner in which that business is conducted. Under ASC 420, a liability for a cost associated with an exit or disposal activity is measured at its fair value and recognized as incurred. Business restructuring charges may include (i) contract termination costs and (ii) other related costs associated with exit or disposal activities. Contract termination costs include costs to terminate a contract or costs that will continue to be incurred under the contract without benefit to the Company. A liability is recognized and measured at its fair value when the Company either terminates the contract or ceases using the rights conveyed by the contract. The Company estimates the fair value using a probability-weighted cash flow approach. A subsequent change resulting from a revision to either the timing or the amount of estimated cash flows is recognized as an adjustment to the liability in the period of the change. During the year ended December 31, 2022, the Company recognized liabilities in connection with the dissolution of Fubo Gaming (See Note 4), including termination of certain contracts and severance and other employee related costs.
Goodwill
The Company tests goodwill for impairment at the reporting unit level on an annual basis on October 1 for each fiscal year or more frequently if events or changes in circumstances indicate that the carrying amount of goodwill may not be recoverable. The Company assesses qualitative factors to determine whether it is more likely than not that the fair value of a single reporting unit is less than its carrying amount under Accounting Standards Update (“ASU”) No. 2017-04, Goodwill and Other (Topic 350): Simplifying the Accounting for Goodwill Impairment, issued by the FASB. If it is determined that the fair value is less than its carrying amount, the excess of the goodwill carrying amount over the implied fair value is recognized as an impairment loss.
Intangible Assets, net
The Company’s intangible assets represent definite lived intangible assets, which are being amortized on a straight-line basis over their estimated useful lives as follows:
Customer relationships2 years
Trade names
2-9 years
Capitalized internal use software3 years
Software and technology
3-9 years
We capitalize qualifying development costs associated with software that is developed or obtained for internal use, provided that management with the relevant authority authorizes and commits to the funding of the project, it is probable the project will be completed and the software will be used to perform the function intended. Capitalized costs, including costs incurred for enhancements that are expected to result in additional significant functionality are capitalized and amortized on a straight-line basis over the estimated useful life, which approximates three years. Costs related to preliminary project activities and post-implementation operation activities, including training and maintenance, are expensed as incurred.
Non-Controlling Interest
Non-controlling interest as of December 31, 2024 and 2023 represents Pulse Evolution Corp. shareholders who retained an aggregate 23.4% interest in that entity following the Company's acquisition of Evolution AI Corporation in October 2020, and Maximum Effort Productions, LLC and MEP FTV Holdings, LLC 50.0% interest in the MEC Entities. Non-controlling interest is adjusted for the non-controlling interest holders’ proportionate share of the earnings or losses even if loss allocations result in a deficit non-controlling interest balance.
Leases
The Company accounts for its leases under ASC 842, Leases. Under this guidance, arrangements meeting the definition of a lease are classified as operating or financing leases and are recorded on the consolidated balance sheets as both a right-of-use asset and lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company’s incremental borrowing rate. Lease liabilities are increased by interest and reduced by payments each period, and the right-of-use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right-of-use asset result in straight-line rent expense over the lease term.
In calculating the right-of-use asset and lease liability, the Company elects to combine lease and non-lease components. The Company also elected not to include short term leases having initial terms of 12 months or less in its right-of-use asset and lease liabilities and recognizes rent expense for these short-term leases on a straight-line basis over the lease term.
Revenue From Contracts With Customers
The Company recognizes revenue from contracts with customers under ASC 606, Revenue from Contracts with Customers (the “revenue standard”). The core principle of the revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. A good or service is transferred to a customer when, or as, the customer obtains control of that good or service. The following five steps are applied to achieve that core principle:
•Step 1: Identify the contract with the customer
•Step 2: Identify the performance obligations in the contract
•Step 3: Determine the transaction price
•Step 4: Allocate the transaction price to the performance obligations in the contract
•Step 5: Recognize revenue when the company satisfies a performance obligation
In 2024, the Company generated revenue from the following sources:
1.Subscriptions – The Company sells various subscription plans through its website and third-party app stores. These subscription plans provide different levels of streamed content and functionality depending on the plan selected. Subscription fees are fixed and paid in advance by credit card primarily on a monthly basis. A subscription customer executes a contract by agreeing to the Company’s terms of service. The Company considers the subscription contract legally enforceable once the customer has accepted terms of service and the Company has received credit card authorization from the customer’s credit card company. The terms of service allow customers to terminate the subscription at any time, however, in the event of termination, no prepaid subscription fees are refundable. The Company recognizes revenue when it satisfies a performance obligation by transferring control of the promised services to the customers, which is ratably over the subscription period. Upon the customer agreeing to the Company’s terms and conditions and authorization of the credit card, the customer simultaneously receives and consumes the benefits of the streamed content ratably throughout the term of the contract. Subscription services sold through third-party app stores are recorded gross in revenue with fees to the third-party app stores recorded in subscriber related expenses in the consolidated statement of operations and comprehensive loss. Management concluded that the customers are the end user of the subscription services sold by these third-party app stores.
2.Advertising – The Company executes agreements with advertisers that want to display ads (“impressions”) within the streamed content. The Company enters into individual insertion orders (“IOs”) with advertisers, which specify the term of each ad campaign, the number of impressions to be delivered and the applicable rate to be charged. The Company invoices advertisers monthly for impressions actually delivered during the period. Each executed IO provides the terms and conditions agreed to in respect of each party’s obligations. The Company recognizes revenue at a point in time when it satisfies a performance obligation by transferring control of the promised services to the advertiser, which generally is when the advertisement has been displayed.
3.Other revenue – Other revenue consists of distribution fees, commissions, and carriage fees earned on sales through a channel distribution platform. The Company recognizes revenue at a point in time when it satisfies a performance obligation by transferring control of the promised services to the customers.
Subscriber Related Expenses
Subscriber related expenses consist primarily of affiliate distribution rights and other distribution costs related to content streaming. The cost of affiliate distribution rights is generally incurred on a per subscriber basis and is recognized when the related programming is distributed to subscribers. Subscriber related expenses also include credit card and payment processing fees for subscription revenue, customer service, certain employee compensation and benefits, cloud computing, streaming, and facility costs. The Company receives advertising spots from television networks for sale to advertisers as part of the affiliate distribution agreements. Subscriber related expenses totaled $1,361.0 million, $1,213.3 million and $976.4 million for the years ended December 31, 2024, 2023 and 2022, respectively.
Broadcasting and Transmission
Broadcasting and transmission expenses are charged to operations as incurred and consist primarily of the cost to acquire a signal, transcode, store, and retransmit it to the subscriber.
Sales and Marketing
Sales and marketing expenses consist primarily of payroll and related costs, benefits, rent and utilities, stock-based compensation, agency costs, advertising campaigns and branding initiatives. All sales and marketing costs are expensed as they are incurred. Advertising expense totaled $149.7 million, $151.0 million and $133.2 million for the years ended December 31, 2024, 2023 and 2022, respectively.
Technology and Development
Technology and development expenses are charged to operations as incurred. Technology and development expenses consist primarily of payroll and related costs, benefits, rent and utilities, stock-based compensation, technical services, software expenses, and hosting expenses.
General and Administrative
General and administrative expenses consist primarily of payroll and related costs, benefits, rent and utilities, stock-based compensation, corporate insurance, office expenses, professional fees, as well as travel, meals, and entertainment costs.
Stock-Based Compensation
The Company accounts for the fair value of restricted stock units using the closing market price of its common stock on the date of the grant.
The Company accounts for share-based payment awards exchanged for services at the estimated grant date fair value of the award. Stock options issued under the Company’s long-term incentive plans are granted with an exercise price equal to no less than the market price of the Company’s stock at the date of grant and expire up to ten years from the date of grant. These options generally vest over a four-year period.
The Company estimates the fair value of stock option grants using the Black-Scholes option pricing model and the assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment.
Expected Term - The expected term of options represents the period that the Company’s stock-based awards are expected to be outstanding based on the simplified method, which is the half-life from vesting to the end of its contractual term. The simplified method was used because the Company does not have sufficient historical exercise data to provide a reasonable basis for an estimate of expected term.
Expected Volatility – The Company historically has lacked sufficient company specific historical and implied volatility information. Therefore, it estimates its expected stock volatility based primarily on the historical volatility of a publicly traded set of peer companies with consideration of the volatility of its own traded stock price.
Risk-Free Interest Rate - The Company bases the risk-free interest rate on the implied yield available on U. S. Treasury zero-coupon issues with an equivalent remaining term.
Expected Dividend - The Company has never declared or paid any cash dividends on its common shares and does not plan to pay cash dividends in the foreseeable future, and, therefore, uses an expected dividend yield of zero in its valuation models.
The Company accounts for forfeited awards as they occur.
Income Taxes
The Company accounts for income taxes under the asset and liability method, in which deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. A valuation allowance is required to the extent any deferred tax assets may not be realizable.
ASC Topic 740, Income Taxes, (“ASC 740”), also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim period, disclosure and transition. Based on the Company’s evaluation, it has been concluded that there are no significant uncertain tax positions requiring recognition in the Company’s consolidated financial statements. The Company believes that its income tax positions and deductions would be sustained on audit and does not anticipate any adjustments that would result in material changes to its financial position.
Foreign Currency
The Company’s reporting currency is the U.S. dollar while the functional currencies of non-U.S. subsidiaries is determined based on the primary economic environment in which the subsidiary operates. The financial statements of non-U.S. subsidiaries are translated into United States dollars in accordance with ASC 830, Foreign Currency Matters, using period-end rates of exchange for assets and liabilities, and average rates of exchange for the period for revenues, costs, and expenses and historical rates for equity. Translation adjustments resulting from the process of translating the local currency financial statements into U.S. dollars are included in determining other comprehensive income (loss).
Net Loss Per Share
Basic net loss per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period.
The following table presents the calculation of basic and diluted net loss per share (in thousands, except per share data):
Years Ended December 31,
202420232022
Basic loss per share:
Loss from continuing operations$(177,778)$(293,102)$(425,045)
Less: net loss attributable to non-controlling interest3,837 463 442 
Loss from continuing operations available to common shareholders(173,941)(292,639)(424,603)
Net income (loss) from discontinued operations, net of tax1,687 5,185 (136,874)
Net loss attributable to common shareholders$(172,254)$(287,454)$(561,477)
Shares used in computation:
Weighted-average common shares outstanding319,653,763 276,282,572 182,472,069 
Basic and diluted loss per share from continuing operations $(0.54)$(1.06)$(2.33)
Basic and diluted income (loss) per share from discontinued operations $— $0.02 $(0.75)
Basic and diluted loss per share$(0.54)$(1.04)$(3.08)
The following common share equivalents are excluded from the calculation of weighted average common shares outstanding because their inclusion would have been anti-dilutive:
December 31,
202420232022
Warrants to purchase common stock166,670 166,670 166,670 
Stock options18,749,529 19,028,904 15,517,069 
Unvested restricted stock units29,741,185 22,349,609 14,575,629 
Convertible notes variable settlement feature48,771,938 6,879,543 6,966,078 
Total97,429,322 48,424,726 37,225,446 
Recent Accounting Pronouncements
The Company continually assesses any new accounting pronouncements to determine their applicability. When it is determined that a new accounting pronouncement affects the Company’s financial reporting, the Company undertakes a study to determine the consequences of the change to its financial statements and assures that there are proper controls in place to ascertain that the Company’s financial statements properly reflect the change.
Recently Adopted Accounting Standards
In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07 requires companies to provide enhanced disclosures about significant segment expenses within its reportable segment disclosures on an annual and interim basis. The guidance was applied retrospectively to all prior periods presented in financial statements and is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The Company incorporated the required disclosure updates in these financial statements.
Recently Issued Accounting Standards
In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740): Improvements to Income Tax Disclosures, requires incremental disclosures within the income tax disclosures that increase the transparency and usefulness of income tax disclosures. The updated disclosures primarily require specific categories and greater disaggregation within the rate reconciliation, disaggregation of income taxes paid, and modifications of other income tax-related disclosures. The guidance is effective for annual periods beginning after December 15, 2024. Retrospective application is also permitted. The Company is currently evaluating the impact of this standard on our consolidated financial statements and related disclosures.
In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expense sand in January 2025, the FASB issued ASU 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date. This standard requires public companies to disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. The new standard, as clarified by ASU 2025-01, is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently in the process of evaluating the effects of the new guidance.
In November 2024, the FASB issued ASU 2024-04, Debt-Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments. This standard clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. It is effective for fiscal years beginning after December 15, 2025 and is permitted on either a prospective or retrospective basis. The Company is currently in the process of evaluating the effects of the new guidance.
v3.25.0.1
Discontinued Operations
 12 Months Ended
Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations Discontinued Operations
Dissolution of Fubo Gaming
On October 17, 2022, the Company dissolved its wholly owned subsidiary Fubo Gaming Inc. ("Fubo Gaming"). In connection with the dissolution of Fubo Gaming, the Company concurrently ceased operation of Fubo Sportsbook.
Net income (loss) from Fubo Gaming's discontinued operations consists of the following (in thousands):
Years Ended December 31,
202420232022
Revenues
Wagering$— $— $(759)
Total revenues— — (759)
Operating expenses
Sales and marketing— (59)9,976 
Technology and development— 17 9,220 
General and administrative275 1,370 28,481 
Depreciation and amortization— 158 433 
Gain on extinguishment and remeasurement of certain liabilities(1,962)(6,671)— 
Impairment of goodwill, intangible assets, and other long-lived assets, net— — 87,365 
 Total operating expenses(1,687)(5,185)135,475 
Operating income (loss)1,687 5,185 (136,234)
Other income (expense)
Interest expense— — (598)
Other income (expense) — — (42)
Total other expense— — (640)
Net income (loss) from discontinued operations before income taxes1,687 5,185 (136,874)
Income tax benefit— — — 
Net income (loss) from discontinued operations$1,687 $5,185 $(136,874)
During the year ended December 31, 2024 and 2023 the Company recorded $2.0 million and $6.7 million gain on extinguishment and remeasurement of certain liabilities.
During the year ended December 31, 2022 the Company incurred non-cash impairment charges totaling $87.4 million primarily consisting of prepaid market access agreements, intangible assets and goodwill.
Included in the table above, during the year ended December 31, 2022, the Company recorded $15.9 million of stock-based compensation expense. There was no stock-based compensation expense recorded during the years ended December 31, 2024 and 2023 pertaining to Fubo Gaming.
During the year ended December 31, 2022, the Company incurred certain immaterial charges in connection with the dissolution, primarily related to severance and other employee-related costs.
The carrying amounts of the major classes of assets and liabilities classified as discontinued operations are as follows (in thousands):
December 31,
20242023
ASSETS
Current assets
Cash and cash equivalents$— $462 
Prepaid and other current assets— — 
Total assets - discontinued operations$— $462 
LIABILITIES
Current liabilities
Accounts payable$— $2,195 
Accrued expenses and other current liabilities— 17,413 
Total liabilities - discontinued operations$— $19,608 
During the year ended December 31, 2024, $14.0 million of Fubo Gaming liabilities that are guaranteed by the Company were transferred to the streaming business.
As of December 31, 2023, the Company's accrued expenses and other current liabilities of its discontinued operations included $17.4 million, primarily related to contract termination costs.
v3.25.0.1
Revenue from Contracts with Customers
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer Revenue from Contracts with Customers
The following tables summarize subscription revenue and advertising revenue by region (in thousands):
Subscription
Years Ended December 31,
202420232022
United States and Canada (North America)$1,466,242 $1,217,905 $882,679 
Rest of world33,859 31,674 23,207 
Total subscription revenues$1,500,101 $1,249,579 $905,886 
Advertising
Years Ended December 31,
202420232022
United States and Canada (North America)$114,023 $114,247 $100,605 
Rest of world1,177 1,123 1,134 
Total advertising revenues$115,200 $115,370 $101,739 
Contract balances
For the years ended December 31, 2024, 2023, and 2022, the Company did not recognize material bad-debt expense and there were no material contract assets recorded on the accompanying consolidated balance sheet as of December 31, 2024 and 2023.
The contract liabilities primarily relate to upfront payments and consideration received from customers for subscription services. As of December 31, 2024 and 2023, the Company’s contract liabilities totaled $98.4 million and $90.2 million, respectively, and are recorded as deferred revenue on the accompanying consolidated balance sheets.
Transaction price allocated to remaining performance obligations
The Company does not disclose the transaction price allocated to remaining performance obligations since subscription and advertising contracts have an original expected term of one year or less.
v3.25.0.1
Property and equipment, net
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment, net Property and equipment, net
Property and equipment, net, is comprised of the following (in thousands):
December 31,
Useful Lives
 (Years)		20242023
Furniture and fixtures5$693 $532 
Computer equipment
3 - 5
6,431 3,949 
Leasehold improvementsTerm of lease5,304 5,302 
 12,428 9,783 
Less: Accumulated depreciation (6,348)(4,948)
Total property and equipment, net $6,080 $4,835 
Depreciation expense totaled $1.4 million, $1.5 million, and $1.2 million for the years ended December 31, 2024, 2023, and 2022 respectively.
v3.25.0.1
Intangible Assets and Goodwill
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill Intangible Assets and Goodwill
Intangible Assets
The table below summarizes the Company’s intangible assets (in thousands):
Useful Lives
(Years)		Weighted Average Remaining
 Life (Years)		December 31, 2024
Intangible AssetsAccumulated AmortizationNet Balance
Trade names
2-9
4.238,822 (20,784)18,038 
Capitalized internal use software31.837,238 (16,087)21,151 
Software and technology
3-9
4.1196,821 (102,307)94,514 
Total$272,881 $(139,178)$133,703 
Useful Lives
(Years)		Weighted Average Remaining
 Life (Years)		December 31, 2023
Intangible AssetsAccumulated Amortization Net Balance
Customer relationships20.0$32,729 $(32,729)$— 
Trade names
2-9
5.238,859 (16,578)22,281 
Capitalized internal use software32.325,770 (5,893)19,877 
Software and technology
3-9
5.1196,136 (79,846)116,290 
Total$293,494 $(135,046)$158,448 
The intangible assets are being amortized over their respective original useful lives, which range from two to nine years. The Company recorded amortization expense of $37.1 million, $35.0 million, and $35.5 million for the years ended December 31, 2024, 2023 and 2022 including amortization related to impaired intangible assets. Intangible assets includes an impairment charge of $100.3 million related to the historical Facebank reporting unit.
The estimated future amortization expense associated with intangible assets is as follows (in thousands):
Future Amortization
202537,715 
202635,330 
202729,033 
202825,305 
20296,320 
Total$133,703 
Goodwill
The following table is a summary of the changes to goodwill (in thousands):
December 31,
20242023
Beginning balance$622,818 $618,506 
Foreign currency translation adjustment(7,419)4,312 
Ending balance$615,399 $622,818 
In the first quarter of 2024, we identified a triggering event that required us to perform a quantitative assessment of impairment of goodwill as of March 31, 2024. The Company estimated the fair value of its single reporting unit by weighting results from a market approach and an income approach. Significant assumptions inherent in the valuation methodologies included, but were not limited to, prospective financial information (including revenue growth and subscriber related expenses), a long-term growth rate, discount rate, and comparable multiples from publicly-traded companies in the same industry. The results of the impairment test showed that the fair value was in excess of its carrying value.
We performed a qualitative assessment for our annual impairment test in the fourth quarter of 2024 and concluded that it was not more-likely-than-not that the fair value was less than the carrying value.
Goodwill includes a cumulative impairment charge of $148.1 million as of December 31, 2024 and 2023 related to the historical Facebank reporting unit
v3.25.0.1
Accounts Payable, Accrued Expenses and Other Long-Term Liabilities
 12 Months Ended
Dec. 31, 2024
Payables and Accruals [Abstract]  
Accounts Payable and Accrued Liabilities Disclosure Accounts Payable, Accrued Expenses and Other Long-Term Liabilities
Accounts payable, accrued expenses and other long-term liabilities are presented below (in thousands):
December 31,
20242023
Affiliate fees$283,953 $266,089 
Broadcasting and transmission10,921 13,097 
Selling and marketing22,580 33,925 
Accrued compensation11,726 13,218 
Legal and professional fees14,500 3,672 
Sales tax34,067 42,590 
Guaranteed liabilities of Fubo Gaming
12,488 — 
Accrued interest6,772 4,671 
Subscriber related1,568 1,624 
Shares settled liability8,424 5,131 
Other12,802 11,970 
Total$419,801 $395,987 
v3.25.0.1
Income Taxes
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The loss before income taxes on continuing operations includes the following components (in thousands):
For the Years Ended December 31,
202420232022
United States$178,697 $283,988 $399,941 
International(1,578)9,993 26,770 
Loss before income taxes$177,119 $293,981 $426,711 
The (provision) benefit of income taxes on continuing operations consist of the following (in thousands):
For the Years Ended December 31,
202420232022
U.S. Federal
Current$— $— $— 
Deferred— 620 1,351 
State and local
Current(314)(116)— 
Deferred— 145 315 
Foreign
Current(127)——
Deferred(218)230 —
Income tax (provision) benefit
$(659)$879 $1,666 
A reconciliation of the statutory federal rate on continuing operations to the Company’s effective tax rate on continuing operations is as follows:
December 31,
202420232022
Federal rate21.00 %21.00 %21.00 %
State income taxes, net of federal benefit3.48 2.57 0.07 
Other nontaxable of nondeductible items(3.46)(0.05)— 
Stock-based compensation0.44 (1.33)(0.67)
Effect of cross-border tax laws(0.54)— — 
Change in fair value of derivative, warrant liability, and gain on extinguishment of convertible notes— — (0.08)
Amortization of debt discount— — (0.67)
Foreign rate differential(0.04)0.14 0.34 
Effect of changes in tax laws or rates enacted in the current period(0.32)(0.83)— 
Change in valuation allowance(20.13)(21.73)(18.94)
Other(0.82)0.53 (0.66)
Income tax (provision) benefit
(0.39)%0.30 %0.39 %
The components of our deferred tax assets are as follows (in thousands):
December 31,
20242023
Deferred tax assets:
Net operating losses$384,838 $366,837 
Accruals and deferrals13,461 15,115 
Stock-based compensation16,984 16,235 
Interest expense limitation18,352 14,860 
Leasing assets9,023 9,375 
Deferred financing fees
7,582 — 
Other39 30 
Total deferred tax assets450,279 422,452 
Less: Valuation allowance(420,749)(385,461)
Net deferred tax assets$29,530 $36,991 
  
Deferred tax liabilities:  
Intangible assets$21,875 $29,073 
Property and equipment7,643 7,688 
Deferred state income tax— — 
Total deferred tax liabilities$29,518 $36,761 
  
Net deferred tax assets
$12 $230 
In assessing the Company’s ability to recover its deferred tax assets, the Company evaluated whether it is more-likely-than- not that some portion or the entire deferred tax asset will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in those periods in which temporary differences become deductible and/or net operating losses can be utilized. The Company considered all positive and negative evidence when determining the amount of the net deferred tax assets that are more likely than not to be realized. This evidence includes, but is not limited to, historical earnings, scheduled reversal of taxable temporary differences, tax planning strategies and projected future taxable income. A significant piece of objective negative evidence evaluated was cumulative loss incurred over the three-year period ended December 31, 2024. Such objective evidence limits the ability to consider other subjective evidence, such as our projections for future growth. Based on the weight of available evidence, the Company determined that its U.S., French and Spanish deferred tax assets were not realizable on a more-likely-than-not basis and that a full valuation allowance is required. During the year ended December 31, 2024, the Company's valuation allowance increased by $35.3 million.
As of December 31, 2024, the Company had federal net operating loss carryforwards of $1,458.4 million. These U.S. federal net operating loss carryforward may be subject to a substantial annual limitation under Section 382 due to ownership changes that may have occurred or that could occur in the future. Approximately $88.0 million of the U.S. federal net operating loss carryforwards begin to expire in 2032 to 2036, if not utilized. The remaining $1,370.4 million can be carried forward indefinitely but are only available to offset 80% of future taxable income.
As of December 31, 2024, the Company had state net operating loss carryforwards of $1,091.2 million. The state net operating loss carryforward of $887.3 million will begin to expire in 2033 through 2044, in varying amounts if not utilized. Approximately $203.9 million can be carried forward indefinitely but are only available to offset 80% of future taxable income.
As of December 31, 2024, the Company had foreign net operating loss carryforwards of $164.1 million. With the exception of the loss carryforwards attributable to the Company’s Indian subsidiary which may be carried for eight years, the foreign net operating loss carryforwards will carryforward indefinitely but are subject to a limitation on the amount that can be used to offset taxable income in a given year.
Utilization of the NOL carryforwards may be subject to a substantial annual limitation due to ownership change limitations that may have occurred or that could occur in the future, as required by the Internal Revenue Code, as well as similar state provisions. In general, an “ownership change” as defined by Code Sections 382 and 383, results from a transaction or series of transactions over a three-year period resulting in an ownership change of more than 50 percentage points of the outstanding stock of a company by certain shareholders or public groups. Since the Company’s formation, the Company has raised capital through the issuance of capital stock on several occasions which, combined with the purchasing shareholders’ subsequent disposition of those shares have resulted in such an ownership change and could result in an ownership change in the future upon subsequent disposition.
The Company periodically conducts an analysis of our stock ownership under Internal Revenue Code Section 382 and 383. The net operating loss carryforwards are subject to annual limitations as a result of the ownership changes in 2015, 2016, 2019 and 2020. Approximately $1.1 million of the net operating loss carryforwards are expected to expire before the utilization.
The Company follows the provisions of FASB Accounting Standards Codification (ASC 740-10), Accounting for Uncertainty in Income Taxes. ASC 740-10 prescribes a comprehensive model for the recognition, measurement, presentation and disclosure in financial statements of uncertain tax positions that have been taken or expected to be taken on an income tax return. No liability related to uncertain tax positions was required to be recorded in the financial statements as of December 31, 2024 and 2023.
The Company’s policy is to recognize interest and penalties accrued on uncertain income tax positions in income tax expense in the Company’s consolidated statements of operations and comprehensive loss. The Company had not incurred any material tax interest or penalties as of December 31, 2024 and 2023. The Company does not anticipate any significant change within 12 months of this reporting date of its uncertain tax positions.
The Company is subject to taxation in the United States and various state jurisdictions, France, Spain and India. The Company had been delinquent in filings since December 31, 2014. There are no ongoing examinations by taxing authorities at this time. The Company’s tax years 2013 through 2024 will remain open for examination by the federal and state authorities for three and four years, respectively, from the date of utilization of any net operating loss credits. The Company’s 2021 to 2024 tax years will remain open for examination by the Spain tax authority for four years starting from the day following the date of termination of the voluntary tax filing period. The Company’s 2020 - 2024 tax years remain open for examination in France. The Company's 2023-2024 tax years are open for examination by the Indian tax authority.
v3.25.0.1
Notes Payable, Long-Term Borrowing, and Convertible Notes
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Notes payable, long-term borrowing, and convertible notes Notes Payable, Long-Term Borrowing, and Convertible Notes
Notes payable, long-term borrowings, and convertible notes consist of the following (in thousands):
NoteStated Interest Rate Principal BalanceCapitalized Interest
Debt (Discount) Premium
December 31, 2024
2026 Convertible Notes3.25 %$144,765 $— $(1,132)$143,633 
2029 Convertible Notes7.5 %177,506 — 11,244 $188,750 
Note payable10.0 %2,700 4,284 — 6,984 
BPi France2.25 %1,042 — — 1,042 
Other4.0 %30 10 — 40 
$326,043 $4,294 $10,112 $340,449 
NoteStated Interest Rate Principal BalanceCapitalized InterestDebt Discount December 31, 2023
2026 Convertible Notes3.25 %$397,500 $— $(5,752)$391,748 
Note payable10.0 %2,700 3,585 — 6,285 
BPi France2.25 %1,612 — — 1,612 
Other4.0 %30 8 — 38 
$401,842 $3,593 $(5,752)$399,683 
2026 Convertible Notes
On February 2, 2021, the Company issued $402.5 million of convertible notes (“2026 Convertible Notes”). The 2026 Convertible Notes bear interest from February 2, 2021, at a rate of 3.25% per annum, payable semi-annually in arrears on February 15 and August 15 of each year, beginning on August 15, 2021. The 2026 Convertible Notes will mature on February 15, 2026, unless earlier converted, redeemed, or repurchased. The net proceeds from this offering were approximately $389.4 million, after deducting a discount and offering expenses of approximately $13.1 million.
The Company accounts for the 2026 Convertible Notes under ASU 2020-06 as single liability measured at amortized cost. The Company did not elect the fair value option.
The initial equivalent conversion price of the 2026 Convertible Notes was $57.78 per share of the Company’s common stock. Holders may convert their 2026 Convertible Notes on or after November 15, 2025, until the close of business on the second business day preceding the maturity date or prior to November 15, 2025 under certain circumstances including:
i.during any calendar quarter (and only during such calendar quarter) commencing after the calendar quarter ended on March 31, 2021, if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day;
ii.during the five-business day period after any five consecutive trading day period in which the trading price for each trading day of such five consecutive trading day period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate on each such trading day;
iii.if the Company calls any or all of the 2026 Convertible Notes for redemption, at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date; or
iv.upon the occurrence of specified corporate events.
The Company may also redeem all or any portion of the 2026 Convertible Notes after February 20, 2024 if the last reported sale price of the Company’s common stock has been at least 130% of the conversion price then in effect for at least 20 trading days during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the 2026 Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. Upon conversion, the Company can elect to deliver cash or shares or a combination of cash or shares.
If the Company undergoes a fundamental change (as defined in the Indenture), subject to certain conditions, holders of the 2026 Convertible Notes may require the Company to repurchase for cash all or any portion of their 2026 Convertible Notes at a repurchase price equal to 100% of the principal amount of the 2026 Convertible Notes plus any accrued and unpaid interest. In addition, if a corporate event (as defined in the Indenture) occurs prior to the maturity date or if the Company issues a notice of redemption, the Company may be required increase the conversion rate by a pre-defined amount for any holder who elects to convert their 2026 Convertible Notes in connection with such a corporate event.
During the year ended December 31, 2024, the Company completed the repurchase of $46.9 million principal amount of the 2026 Convertible Notes with a net book value of $46.4 million for $26.6 million resulting in a gain of $19.8 million which is included in gain on extinguishment of debt in the consolidated statements of operations and comprehensive loss.
During the year ended December 31, 2023, the Company repurchased $5.0 million principal amount of the 2026 Convertible Notes for $3.3 million and recognized a gain on extinguishment of $1.6 million.
During the years ended December 31, 2024, 2023, and 2022, the Company paid $6.0 million, $13.1 million, and $13.4 million, respectively, of interest expense in connection with the 2026 Convertible Notes and recorded amortization expense of $1.1 million, $2.6 million, and $2.5 million, respectively, which is included in amortization of debt premium (discount), net in the consolidated statements of operations and comprehensive loss.
As of December 31, 2024 and 2023, following the Exchange (defined below) and the repurchase described above, there is an aggregate principal amount $144.8 million and $397.5 million, respectively, of 2026 Convertible Notes outstanding.
As of December 31, 2024 and 2023, the estimated fair value (Level 2) of the 2026 Convertible Notes was $111.8 million and $288.2 million, respectively.
2029 Convertible Notes
On December 29, 2023, the Company entered into a privately negotiated exchange agreement with certain affiliates and related funds of Mudrick Capital Management, L.P., which were holders of its existing 2026 Convertible Notes, to exchange $205.8 million principal amount of the 2026 Convertible Notes for $177.5 million in aggregate principal amount of the Company’s new convertible senior secured notes due 2029 (the “2029 Convertible Notes”), subject to customary closing conditions (the "Exchange"). The Exchange closed on January 2, 2024, when the 2029 Convertible Notes were issued pursuant to, and are governed by, an indenture, dated as of January 2, 2024, among the Company, the guarantors identified therein and U.S. Bank Trust Company, National Association, as trustee and collateral agent.
At our election for any interest period, the 2029 Convertible Notes will bear interest at a rate of (i) 7.5% per annum on the principal amount thereof if interest is paid in cash and (ii) 10.0% per annum on the principal amount thereof if interest is paid in kind, in each case payable semi-annually in arrears on February 15 and August 15 of each year, beginning on February 15, 2024. The 2029 Convertible Notes will mature on February 15, 2029, unless earlier converted or repurchased.
The initial conversion rate of the 2029 Convertible Notes is 260.6474 shares of common stock per $1,000 principal amount of 2029 Convertible Notes, which represents an initial conversion price of approximately $3.84 per share of common stock. Holders may convert their 2029 Convertible Notes at their option in the following circumstances:
(i)during any calendar quarter commencing after the calendar quarter ending on March 31, 2024 (and only during such calendar quarter), if the last reported sale price per share of common stock is greater than or equal to 130% of the conversion price for each of at least 20 trading days, whether or not consecutive, during the 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter;
(ii)during the five consecutive business days immediately after any five consecutive trading day period (such five consecutive trading day period, the “measurement period”) in which the trading price per $1,000 principal amount of 2029 Convertible Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price per share of common stock on such trading day and the conversion rate on such trading day;
(iii)upon the occurrence of certain corporate events or distributions on the Company’s common stock, as provided in the Indenture; and
(iv)on or after November 15, 2028 until the close of business on the second scheduled trading day immediately before the Maturity Date.
The Company may cause all outstanding 2029 Convertible Notes to be automatically converted, subject to certain conditions, if, at any time on or after January 2, 2025, the last reported sale price of the Company’s common stock has been at least 200% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period, the last of which 20 trading days is no more than 10 trading days before the date that the Company provides the notice of forced conversion.
Upon the occurrence of a fundamental change (as defined in the Indenture), holders of the 2029 Convertible Notes may require the Company to repurchase their 2029 Convertible Notes at a cash repurchase price equal to the principal amount of the 2029 Convertible Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the fundamental change repurchase date. The definition of fundamental change includes certain business combination transactions involving the Company and certain de-listing events with respect to the Company’s common stock.
The 2029 Convertible Notes were initially recorded at fair value. The Company recognized a gain on extinguishment of debt of $9.6 million which represents the difference between the fair value of the 2029 Convertible Notes and the carrying value of the exchanged 2026 Convertible Notes. The Company incurred $4.2 million of financing costs that have been capitalized on the balance sheet and are being amortized over the life of the 2029 Convertible Notes.
During the year ended December 31, 2024, the Company paid $8.2 million of interest expense and recorded amortization income of $2.3 million included in amortization of debt premium (discount), net, in the consolidated statements of operations and comprehensive loss.
The fair value (Level 2) of the 2029 Convertible Notes was $161.7 million as of December 31, 2024.
Note payable
The Company has recognized, through the consolidation of its subsidiary Evolution AI Corporation (“EAI”), a $2.7 million note payable bearing interest at the rate of 10.0% per annum that was due on October 1, 2018 (“CAM Digital Note”). The cumulative accrued interest on the CAM Digital Note amounts to $3.9 million. The CAM Digital Note is currently in a default condition due to non-payment of principal and interest. The outstanding balance as of December 31, 2024 and 2023, including interest and penalties, is $7.0 million and $6.3 million, respectively, and is included in notes payable on the accompanying consolidated balance sheets.
BPi France
The Company assumed through the acquisition of Molotov in December 2021, $2.4 million in notes bearing interest rates of 2.25% per annum. During the year ended December 31, 2024 and 2023, the Company repaid principal of approximately $0.4 million and $0.4 million, respectively. As of December 31, 2024 and 2023, the principal balance totaled approximately $1.0 million and $1.6 million, respectively, and is included in long-term borrowings-current portion on the accompanying consolidated balance sheet.
Other
The Company assumed, through the consolidation of its subsidiary EAI, a $30,000 note payable due to a relative of the former Chief Executive Officer, John Textor, bearing interest at the rate of 4.0% per annum. As of December 31, 2024 and 2023, the principal balance and accrued interest totaled approximately $40,000 and $38,000, respectively.
v3.25.0.1
Segments and Geographic Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segments Segments and Geographic Information
The Company has one operating segment as of December 31, 2024 and 2023, the streaming business.
The following tables set forth our financial performance by geographical location (in thousands):
Total long-lived assets and rights-of-use assets
December 31,
20242023
United States165,481 190,113 
Rest of world6,139 8,995 
Total revenue
For the Years Ended December 31,
202420232022
United States$1,557,846 $1,309,438 $972,220 
Rest of world64,950 58,787 36,476 
Total revenue$1,622,796 $1,368,225 $1,008,696 
The Company’s method for measuring profitability includes gross profit and net loss from continuing operations, which the CODM uses to assess performance and make decisions for resource allocation. Gross Profit is defined as revenue less subscriber related expenses and broadcasting and transmission. Net loss from continuing operations is consistent with the measurement principals for net loss from continuing operations as reported on the Company’s consolidated statement of operations. The following table provides the significant expenses and gross profit with a reconciliation to net loss from continuing operations for the periods indicated, which are regularly reviewed by the CODM (in thousands):
For the Years Ended December 31,
202420232022
Total revenue$1,622,796 $1,368,225$1,008,696
Gross profit (loss) (1)
203,911 86,148 (41,096)
Significant expenses:
Sales and marketing (2)
185,148 184,159 161,417 
Technology and development (2)
67,801 55,651 59,266 
General and administrative (2)
62,436 48,188 61,037 
Other segment expenses (3)
66,304 91,252 102,229 
Net loss from continuing operations(177,778)(293,102)(425,045)
(1) Gross profit (loss) is calculated as total revenue less Subscriber related expenses and Broadcasting and transmission expenses.
(2) Sales and marketing, Technology and development, and General and administrative expense categories regularly provided to the CODM exclude stock-based compensation.
(3) Other segment expenses include depreciation and amortization, impairment of other assets, stock-based compensation expense, total other income (expense), and (provision) benefit for income taxes.
v3.25.0.1
Fair Value Measurements
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The following table classifies the Company’s assets and liabilities measured at fair value on a recurring basis into the fair value hierarchy (in thousands):
Fair valued measured at December 31, 2024
Quoted prices in active markets
(Level 1)		Significant other observable inputs
(Level 2)		Significant unobservable inputs
(Level 3)		Total
Financial assets at fair value:
Cash and cash equivalents
Money market securities$111,130 $— $— $111,130 
Total financial assets at fair value$111,130 $— $— $111,130 

Fair valued measured at December 31, 2023
Quoted prices in active markets
(Level 1)		Significant other observable inputs
(Level 2)		Significant unobservable inputs
(Level 3)		Total
Financial assets at fair value:
Cash and cash equivalents
Money market securities$205,074 $— $— $205,074 
Total financial assets at fair value$205,074 $— $— $205,074 
v3.25.0.1
Shareholders’ Equity
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Shareholders’ Equity Shareholders’ Equity
Authorized Share Capital
The Company amended its articles of incorporation on June 15, 2023 to increase the authorized share capital to 800.0 million shares of common stock.
The Company amended its articles of incorporation on June 18, 2024 to increase the authorized share capital to 1.0 billion shares of common stock.
Common Stock Activity
At-the-Market Sales Agreements
2022 ATM Program
On August 4, 2022, the Company entered into an at-the-market sales agreement (the "Sales Agreement") with Evercore Group L.L.C., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and Needham & Company, LLC, as sales agents (the “managers”) pursuant to which the Company may, from time to time, sell shares of its common stock having an aggregate offering price of up to $350.0 million through the managers by methods deemed to be an “at-the-market” offering as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended. The Company will pay the managers a commission for their services in acting as agents in the sale of common stock at a commission rate of up to 3% of the gross sales price of the shares of the Company’s common stock sold through them pursuant to the Sales Agreement. The Company is not obligated to, and cannot provide any assurances that it will, make any sales of the shares under the Sales Agreement. The offering of shares of common stock pursuant to the Sales Agreement will terminate upon the earlier of (i) the sale of all common stock subject to the Sales Agreement or (ii) termination of the Sales Agreement in accordance with its terms.
During the year ended December 31, 2024 and 2023, the Company received net proceeds of approximately $43.3 million and $116.9 million, respectively (after deducting $1.0 million and $2.8 million in commissions and expenses, respectively) from sales of 33,218,851 and 81,694,729 shares of its common stock, respectively, at a weighted average gross sales price of $1.33 and $1.46 per share, respectively, pursuant to the ATM Sales Agreements.
As of December 31, 2024, there was $112.0 million of common stock remaining available for sale under the 2022 Sales Agreemen
v3.25.0.1
Stock-Based Compensation
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation
Note 14 - Stock-Based Compensation
Stock-based compensation
The Company recognized stock-based compensation expense as follows (in thousands):
Years Ended December 31,
202420232022
Subscriber related$324 $211 $144 
Sales and marketing17,341 22,886 22,198 
Technology and development12,208 12,024 9,998 
General and administrative12,637 16,094 20,114 
$42,510 $51,215 $52,454 
Equity Incentive Plans
On April 1, 2020, the Company approved the establishment of the Company’s 2020 Equity Incentive Plan, as subsequently amended (the “2020 Plan”). The 2020 Plan provides for the grant of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance units and performance shares to its employees, directors and consultants. On June 17, 2024, the Company further amended the 2020 Plan to, among other things, increase the maximum aggregate number of shares of common stock available for issuance under the 2020 Plan by 20,000,000 shares. As of December 31, 2024, there are 10,772,874 shares available for future issuance under the 2020 Plan.
On August 3, 2022, August 7, 2023, and August 5, 2024, the Company's board of directors (the "Board") adopted the 2022 Employment Inducement Equity Incentive Plan ("2022 Plan"), the 2023 Employment Inducement Equity Incentive Plan ("2023 Plan") and the 2024 Employment Inducement Equity Incentive Plan (the “2024 Plan” and, collectively, the "Inducement Plans"), respectively, in each case without shareholder approval pursuant to Rule 303A.08 of the New York Stock Exchange Listed Company Manual. The Inducement Plans provide for the grant of equity-based awards, including non-statutory stock options, stock appreciation rights, restricted stock, restricted stock units, performance units and performance shares, and their terms are substantially similar to the 2020 Plan, with the exception that awards can only be made to new employees in connection with their commencement of employment. As of December 31, 2024, there are no shares available for future issuance under the 2022 Plan and 2023 Plan, and there are 2,892,219 shares available for future issuance under the 2024 Plan.
Time-based Stock Options
The Company provides option grants to employees, directors, and consultants under the 2020 Plan. The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option pricing model.
A summary of stock option activity for the year ended December 31, 2024, is as follows (in thousands, except share and per share amounts):
Number of Shares Weighted Average Exercise PriceTotal Intrinsic ValueWeighted Average Remaining Contractual Life
 (in years)
Outstanding as of December 31, 2023
10,475,607 $6.31 $6,534 5.3
Exercised(4,042)$0.87   
Forfeited or expired(275,333)$12.99   
Outstanding as of December 31, 2024
10,196,232 $6.13 $1,036 4.4
    
Options vested and exercisable as of December 31, 2024
9,610,252 $6.39 $1,036 4.3
There were no stock options granted during the year ended December 31, 2024.
The following was used in determining the fair value of stock options granted:
December 31,
2023
Dividend yield— %
Expected price volatility49.8 %
Risk free interest rate3.9 %
Expected term (years)6.0
As of December 31, 2024, the estimated value of unrecognized stock-based compensation expense related to unvested options was $0.4 million to be recognized over a period of 2.0 years.
Market and Service Condition Based Stock Options
A summary of activity under the Plan for market and service-based stock options for the year ended December 31, 2024 is as follows (in thousands, except share and per share amounts):
Number of SharesWeighted Average Exercise PriceTotal Intrinsic ValueWeighted Average Remaining Contractual Life
(in years)
Outstanding as of December 31, 2023
4,453,297 $12.75 $— 3.7
Outstanding as of December 31, 2024
4,453,297 $12.75 $— 2.7
    
Options vested and exercisable as of December 31, 2024
3,994,964 $11.96 $— 2.6
Stock based compensation expense is based on the estimated value of the awards on the grant date, and is recognized over the period from the grant date through the expected vest dates of each vesting condition, both of which were estimated based on a Monte Carlo simulation model.
There were no market and service-based options granted during the year ended December 31, 2024 and 2023.
During the years ended December 31, 2024, 2023 and 2022, the Company recognized $0.9 million, $3.3 million, and $7.8 million respectively, of stock-based compensation related to its market and service-based stock options. As of December 31, 2024, there was no unrecognized stock-based compensation expense for market and service-based stock options.
Performance-Based Stock Options
On October 8, 2020, the Company granted the CEO a performance stock option to purchase 4,100,000 shares of common stock, with an exercise price of $10.00, which was originally eligible to vest over a period of five calendar years through 2025, subject to the achievement of certain predetermined performance goals. On April 20, 2023, the Company amended the award to modify the vesting conditions with respect to the 3,280,000 options that remained unvested as of the amendment date (the "Amended Options"). The Amended Options are eligible to vest on February 20, 2026 (the "Certification Date"), subject to the achievement of the predetermined revenue, adjusted EBITDA, and subscriber objectives (the "Performance Criteria") for the year ended December 31, 2025. Compensation cost related to the Amended Options will be recognized over the requisite service period for the new award beginning on the amendment date and ending on the Certification Date based on the probability of achievement of the Performance Criteria. There was no accounting impact on the 820,000 shares subject to the vested portion of the stock option as a result of the amendment. The fair value of the Amended Options as of the amendment date totaled $1.2 million. The Amended Options are subject to acceleration upon certain events and conditions, including a change of control and qualifying terminations, and upon death, disability, and certain “good leaver” circumstances.
Time-Based Restricted Stock Units
A summary of the Company’s time-based restricted stock unit activity during the year ended December 31, 2024 is as follows:
Number of Shares Weighted Average Grant-Date Fair Value
Unvested at December 31, 2023
20,313,775 $3.85 
Granted15,812,986 $1.55 
Vested(7,095,430)$3.65 
Forfeited(2,321,974)$4.64 
Unvested at December 31, 2024
26,709,357 $2.47 
During the year ended December 31, 2024, the Company granted 15,812,986 time-based restricted stock units which generally vest over a one-year period (in the case annual grants to directors) or annually over a four-year period (in the case grants to employees), subject to the recipient’s continuation in service through each applicable vesting date. The fair value of restricted stock units is measured based on their fair value at grant date which totaled approximately $24.4 million.
During the year ended December 31, 2023, the Company granted 13,912,089 time-based restricted stock units which generally vest annually over a four-year period, subject to the recipient’s continuation in service through each applicable vesting date. The fair value of restricted stock units is measured based on their fair value at grant date which totaled $44.0 million.
As of December 31, 2024, the estimated value of unrecognized stock-based compensation related to restricted stock units totaled $60.2 million, had an aggregate intrinsic value of $33.7 million, and a weighted average remaining contractual term of 2.8 years.
Performance-Based Restricted Stock Units ("PRSUs")
A summary of the Company’s performance-based restricted stock unit activity during the year ended December 31, 2024 is as follows:
Number of SharesWeighted Average Grant-Date Fair Value
Unvested at December 31, 2023
2,035,834 $7.75 
Granted1,185,819 $1.55 
Forfeited(189,825)$3.26 
Unvested at December 31, 2024
3,031,828 $5.61 
During the year ended December 31, 2024 and 2023, the Company granted an aggregate of 1,185,819 PRSUs with a grant date fair value of $1.8 million and 2,035,834 PRSUs with a grant date fair value of $15.8 million, respectively, to certain executives which vest upon the achievement of certain established performance metrics. Compensation cost related to the target PRSUs will be recognized over the requisite service period based on the probability of achievement of certain performance thresholds. During the years ended December 31, 2024 and 2023, the Company recognized aggregate stock-based compensation expense of $4.4 million and $8.9 million, respectively, related to these PRSUs. As of December 31, 2024, aggregate unrecognized stock-based compensation related to these PRSUs totaled $5.8 million.
Framework Agreement with MEP FTV
On August 2, 2022 (the "MEP Effective Date"), Fubo Studios Inc., a subsidiary of the Company, entered into a binding framework agreement (the “MEP Framework Agreement”) with MEP FTV Holdings, LLC (“MEP FTV”) and Maximum Effort Productions, LLC. (“MEP” and, together with MEP FTV, “Maximum Effort”), memorializing the parties’ collaboration on a Maximum Effort linear channel and original programming for launch on Fubo. Pursuant to the MEP Framework Agreement, the Company and Maximum Effort agreed to work together to (1) develop scripted and unscripted television programs intended for initial distribution on Fubo’s platform (the “MEP Projects”) and (2) create a new television channel with unique content, features and functionality (the “MEP Network”).
In connection with the MEP Framework Agreement, as consideration for Maximum Effort’s participation in the collaboration, the Company entered into a Restricted Stock Award Agreement dated August 12, 2022 (the “MEP RSA Agreement”) pursuant to which it has agreed to grant restricted common stock, issuable in three tranches in each of August 2022, 2023 and 2024, to MEP FTV, subject to various time and performance-based milestones. Under the MEP RSA Agreement, 80% of the restricted stock is consideration for the MEP Projects and 20% for the MEP Network.
Stock-based compensation cost for MEP Project restricted stock awards (the "MEP Project RSAs") totaled approximately $23.0 million measured as the fair value of the 1,600,000 shares issued for the first tranche issued on August 12, 2022, at $7.0 million, plus the fixed monetary amount of $8.0 million settleable in shares on August 2, 2023, and the fixed monetary amount of $8.0 million, settleable in shares on August 2, 2024. Compensation cost is recognized on a straight-line basis over the term of the three-year service period as if the Company paid cash for the services. The second two tranches are liability classified because they are a fixed monetary amount, settleable in shares. As compensation cost is recognized for these tranches, a corresponding credit to shares settled liabilities will be recorded and reclassified to equity upon issuance of the related shares.
Stock-based compensation cost for the MEP Network RSAs totaling approximately $5.7 million is measured as the fair value of the 400,000 shares issued for the first tranche issued on August 12, 2022, at $1.7 million, plus the fixed monetary amount of $2.0 million, settleable in shares on August 2, 2023, plus the fixed monetary amount of $2.0 million, settleable in shares on August 2, 2024. The Network RSAs were subject to forfeiture until launch of the MEP Network which occurred in June 2023. The Company will recognize the total fair value of $5.7 million ratably over the two-year period.
Because shares of the Company’s common stock will be issued as consideration for the MEP Framework Agreement, the Company accounted for the MEP RSA Agreement pursuant to the non-employee guidance in ASC 718, Compensation – Stock Compensation.
During the year ended December 31, 2024 and 2023, in connection with the MEP Framework Agreement, the Company recorded approximately $3.3 million and $6.5 million of stock-based compensation expense, respectively, to shares settled liability. As of December 31, 2024 and 2023, $8.4 million and $5.1 million, respectively, is included in accrued expenses and other current liabilities and other long-term liabilities on the consolidated balance sheets.
Warrants
Pursuant to the MEP Framework Agreement, on August 12, 2022, the Company issued MEP FTV a warrant to acquire 166,667 shares of the Company’s common stock with an exercise price of $15.00 per share. The warrant is exercisable on or prior to August 2, 2032, provided that the price per share of the Company’s common stock equals or exceeds a 30-trading day volume weighted average closing price of $30.00 at any time prior to third anniversary of the grant date. The fair value of the warrant was measured on August 12, 2022, using the Monte Carlo valuation model, and the fair value totaled approximately $0.4 million. The derived service period was determined to be 1.7 years. As of December 31, 2024, there was no unrecognized stock-based compensation.
A summary of the Company’s outstanding warrants as of December 31, 2024, are presented below (in thousands, except share and per share amounts):
Number of Warrants Weighted Average Exercise PriceTotal Intrinsic ValueWeighted Average Remaining Contractual Life
(in years)
Outstanding as of December 31, 2023
166,670 $17.40 $— 8.6
Outstanding as of December 31, 2024
166,670 $17.40 $— 7.6
There were no warrants granted during the year ended December 31, 2024 and 2023.
v3.25.0.1
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Leases
The following summarizes quantitative information about the Company’s operating leases (amounts in thousands, except lease term and discount rate):
The components of lease expense were as follows (in thousands):
Years Ended December 31,
202420232022
Operating leases   
Operating lease cost$6,974 $6,513 $5,711 
Other lease cost945 256 239 
Operating lease expense7,919 6,769 5,950 
Short-term lease rent expense— 132 167 
Total rent expense$7,919 $6,901 $6,117 
Supplemental cash flow information related to leases were as follows (amounts in thousands):
Years Ended December 31,
202420232022
Operating cash flows from operating leases$7,994$5,939$1,421
Right of use assets exchanged for operating lease liabilities$—$3,062$4,312
Weighted average remaining lease term - operating leases9.1 years9.9 years11.3 years
Weighted average remaining discount rate - operating leases7.7%7.8%7.4%
Maturities of the Company’s operating leases from continuing operations, are as follows (in thousands):
Year Ended December 31, 2025$7,751 
Year Ended December 31, 20265,991 
Year Ended December 31, 20274,831 
Year Ended December 31, 20284,403 
Year Ended December 31, 20294,403 
Thereafter27,334 
Total54,713 
Less present value discount(16,738)
Operating lease liabilities$37,975 
During the year ended December 31, 2022, the Company recorded an impairment charge of approximately $2.3 million for the right of use asset balances recorded in connection with Fubo Gaming (See Note 4).
Other Contractual Obligations
The Company is a party to several non-cancelable contracts with vendors and licensors for marketing and other strategic partnership related agreements where the Company is obligated to make future minimum payments under the non-cancelable terms of these contracts as follows (in thousands):
Annual Sponsorship Agreements
Year Ended December 31, 2025$3,275 
Year Ended December 31, 20263,325 
Year Ended December 31, 20273,425 
Year Ended December 31, 20283,525 
Year Ended December 31, 20293,575 
Thereafter9,150 
Total$26,275 
Sports Rights Agreements
The Company entered into various sports right agreements to obtain programming rights to certain live sporting events.
Future payments under these agreements are as follows:
Year Ended December 31, 2025$39,128 
Year Ended December 31, 202632,018 
Year Ended December 31, 202723,558 
Year Ended December 31, 20284,583 
Total$99,287 
During the year ended December 31, 2024 and 2023, the Company made upfront payments totaling approximately $36.9 million and $27.4 million, respectively, which are recorded in prepaid sports rights on the consolidated balance sheets.
Contingencies
The Company is subject to certain legal proceedings and claims that arise from time to time in the ordinary course of its business, including relating to business practices and patent infringement. Litigation can be expensive and disruptive to normal business operations. Moreover, the results of complex legal proceedings are difficult to predict and the Company’s view of these matters may change in the future as the litigation and events related thereto unfold. When the Company determines that a loss is both probable and reasonably estimable, a liability is recorded and disclosed if the amount is material to the financial statements taken as a whole. When a material loss contingency is only reasonably possible, the Company does not record a liability, but instead discloses the nature and the amount of the claim, and an estimate of the loss or range of loss, if such an estimate can reasonably be made. Legal expenses associated with any contingency are expensed as incurred.
The Company is engaged in discussions with certain third parties regarding patent licensing matters. The Company is not able to reasonably estimate whether it will be able to reach an agreement with these parties or the amount of potential licensing fees, if any, it may agree to pay in connection with these discussions, but it is possible that any such amount could be material.
Legal Proceedings
The Company is, and may in the future be, involved in various legal proceedings arising from the normal course of business activities. Although the results of litigation and claims cannot be predicted with certainty, currently, the Company believes that the likelihood of any material adverse impact on the Company’s consolidated results of operations, cash flows or our financial position for any such litigation or claims is remote. Regardless of the outcome, litigation can have an adverse impact on the Company because of the costs to defend lawsuits, diversion of management resources and other factors.
DISH Technologies, LLC, et al. v. fuboTV Media Inc., No. 1:23-cv-00986 (D. Del.)
On September 6, 2023, DISH Technologies L.L.C. and Sling TV L.L.C. (collectively, “DISH”) filed a complaint in the District of Delaware alleging that fuboTV Media Inc. (“fuboTV Media”) infringes eight of DISH's patents by streaming video through a fuboTV Media application and seeking damages and injunctive relief.
On December 14, 2023, following a series of stipulated extensions, fuboTV Media filed a motion to dismiss the complaint asserting that DISH’s patents are invalid. A hearing was held on March 25, 2024.
On May 7, 2024, DISH filed a motion for leave to file a First Amended Complaint to assert more claims. The district court granted this motion on May 21, 2024, and denied-as-moot fuboTV Media’s motion to dismiss. fuboTV Media also filed petitions for inter partes review on all the asserted patents, five of which relate to patents for which the United States Patent Trial and Appeal Board (“PTAB”) instituted proceedings in April 2024, and those are expected to be complete by April 25, 2025. The PTAB also instituted proceedings on the remaining three patents, and those are expected to be complete by November 21, 2025.
After filing its inter partes review ("IPR") petitions, fuboTV Media filed a motion to stay the district court case pending resolution of those reviews. The district court granted that motion on August 13, 2024, staying the case until two weeks after the PTAB issues final written decisions on the five then-instituted patents and any appeals therefrom, and ordered that the stay would remain in place for the duration of any instituted IPRs and appeals therefrom on the remaining three patents. On December 5, 2024, the parties informed the Court that the PTAB instituted review for the remaining three patents. Currently, the case is fully stayed pending the instituted IPRs.
At this time, the Company cannot predict the outcome, or provide a reasonable estimate or range of estimates of the possible outcome or loss, if any, with respect to this matter. The Company believes it has meritorious defenses and intends to defend itself vigorously in this matter.
FuboTV Inc. and FuboTV Media Inc. vs. The Walt Disney Company, ESPN, Inc., ESPN Enterprises, Inc., Hulu, LLC, Fox Corporation, and Warner Brothers Discovery, Inc.
On February 20, 2024, the Company filed a lawsuit in the U.S. District Court for the Southern District of New York asserting federal and state antitrust claims against The Walt Disney Company (“Disney”), ESPN, Inc. and ESPN Enterprises, Inc. (collectively, “ESPN”), Hulu, LLC (“Hulu”), Fox Corporation (“Fox”), and Warner Brothers Discovery, Inc. (“WBD”). On April 8, 2024, the Company filed a motion for preliminary injunction (“PI Motion”) seeking to enjoin the launch of the the announced joint venture (the "Network JV") between Disney, WBD, and Fox pending the outcome of the lawsuit. On August 16, 2024, after a five-day hearing, the district court granted the Company’s PI Motion. On January 6, 2025, the Company entered into a settlement agreement with the Defendants to settle all claims asserted in this matter. As part of that settlement, Fubo agreed to dismiss, with prejudice, its lawsuit against the Defendants.
Video Privacy Protection Act ("VPPA") Matters
The Company has been named as defendant in putative class action complaints bringing claims under the VPPA, alleging the Company shared subscribers’ personally identifiable information to third party advertisers and through the Meta Pixel and Google Analytics without consent. The complaints are captioned Burdette v. fuboTV, Inc., No. 1:23-cv-10351 (N.D. Ill.); Perez, et al., v. fuboTV, Inc., No. 0:23-cv-61961 (S.D. Fla.); Beasley v. fuboTV, Inc., No. 1:24-cv-00711 (S.D.N.Y). The Company has reached an agreement in principle to resolve these matters on a class basis, subject to negotiation of the terms of the proposed class action settlement and subject to approval by the court. Additional allegations or litigation may arise against the Company in the future related to the VPPA and other privacy and consumer protection laws.
v3.25.0.1
Subsequent Events
 12 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Business Combination Agreement
On January 6, 2025, the Company entered into a business combination agreement (the “Business Combination Agreement”) by and among the Company, The Walt Disney Company (“Disney”) and Hulu, LLC (“Hulu”), which contemplates, among other things, (i) Hulu contributing certain assets (the “HL Business Assets”) related to the business of negotiating and administering carriage agreements and similar contracts relating to and for the purpose of the retransmission, distribution, carriage, display or broadcast of any programming service, channel or network on the HL DMVPD Service (as defined below) to a newly formed entity to be jointly owned by Hulu and the Company (“Newco”), (ii) the Company undergoing an umbrella partnership C corporation reorganization (the “Up-C Reorganization”) and contributing its business to Newco in exchange for units in Newco (“Newco Units”) such that, after giving effect to such contribution, Hulu will hold a number of Newco Units representing, in the aggregate, a 70% economic interest in Newco and the Company will hold a number of Newco Units representing, in the aggregate, a 30% economic interest in Newco, and (iii) the Company issuing to Hulu shares of a newly created vote-only class of the Company’s common stock (“Class B Common Stock”) representing, in the aggregate, a 70% voting interest in the Company (calculated on a fully-diluted basis) (the transactions contemplated by the Business Combination Agreement, the “Business Combination”). The HL Business Assets will include certain carriage agreements, rights under joint subscription agreements and related data and information about its subscribers, advertising or sponsorship agreements exclusively related to Hulu’s linear multi-channel subscription video programming distribution service component of the offering known as “Hulu + Live TV” as of the date of the Business Combination Agreement and operated by Hulu (such service, the “HL DMVPD Service”), all other assets (including intellectual property) exclusively related to the HL DMVPD Service and all intellectual property constituting the “Live TV” brand.
Immediately prior to the closing of the Business Combination (the “Closing”), in connection with the Up-C Reorganization, the Company will, among other things, (i) effect a conversion from a Florida corporation to a Delaware corporation pursuant to a plan of conversion and (ii) authorize and adopt a new certificate of incorporation and adopt new bylaws, in each case, on the terms and subject to the conditions set forth in the Business Combination Agreement. At the Closing, the Company and Hulu, as the members of Newco, will adopt, and Newco will thereafter be governed by, an amended and restated limited liability company agreement of Newco (the “Newco Operating Agreement”). The Newco Operating Agreement will provide, among other things, Hulu a redemption right pursuant to which Hulu may cause Newco to redeem all or a portion of its Newco Units, together with an equivalent number of shares of Class B Common Stock, in exchange for an equivalent number of shares of Class A Common Stock or, at the Company’s option, cash, subject to the Company’s right to elect to effect, in lieu of such a redemption, a direct exchange between the Company and Hulu of cash or an equivalent number of shares of Class A Common Stock for such Newco Units and Class B Common Stock.
The Closing is subject to certain closing conditions specified in the Business Combination Agreement, including, among other things, obtaining requisite shareholder and regulatory approval. Hulu will be required to pay to the Company a termination fee in the amount of $130.0 million in the event of a termination of the Business Combination Agreement under certain specified circumstances, including if the Business Combination fails to close due to the failure to obtain requisite regulatory approvals on the terms and conditions set forth in the Business Combination Agreement. Conversely, the Company will be required to pay Hulu a termination fee in amount of $50.0 million in the event of a termination of the Business Combination Agreement under certain specified circumstances, including if the Company implements a Superior Proposal (as defined in the Business Combination Agreement).
Senior Unsecured Term Loan Commitment
On January 6, 2025, concurrently with the execution of the Business Combination Agreement, the Company and an affiliate of Disney entered into a commitment letter (the “Commitment Letter”) pursuant to which such affiliate committed to provide the Company, on January 5, 2026 and on the terms and subject to the conditions set forth therein, up to $145.0 million of indebtedness in the form of a senior unsecured term loan (the “Facility”), subject to customary conditions. The proceeds of the Facility will be used for general corporate purposes of the Company. The funding of the Facility under the Commitment Letter is not contingent on the occurrence of the Business Combination contemplated by the Business Combination Agreement.
Litigation Settlement
On January 6, 2025, concurrently with the execution of the Business Combination Agreement, (i) the Company and FuboTV Media Inc. and (ii) Disney, Fox, and WBD and their affiliates (such parties in clause (ii), the “Defendants,” and together with the Company and FuboTV Media Inc, the “Settling Parties”) entered into a settlement in connection with the action captioned FuboTV Inc. v. The Walt Disney Co., No. 24-cv-1363-MMG (S.D.N.Y. 2024) (the “Action”).
In connection with the settlement, the Settling Parties agreed to settle all claims asserted in the Action, including the Company’s claims concerning the Defendants’ bundling or tying of television channels, Defendants’ use of most-favored nations clauses, and the contemplated and previously announced Network JV, and to dismiss all claims in the Action with prejudice. In conjunction therewith, Disney, Fox and WBD made an aggregate cash payment to the Company of $220.0 million.
Under the settlement, Disney and its affiliates, including Hulu, agreed that the Business Combination and the execution of the Business Combination Agreement, the mutual releases in connection with the settlement and the dismissal with prejudice of the Action constitute full consideration for the execution of the settlement and the releases contained therein.
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Net loss attributable to common shareholders $ (172,254) $ (287,454) $ (561,477)
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
We have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and data. We design and assess our program based on the International Organization for Standardization (“ISO”) 27001 framework and other applicable industry standards. This does not imply that we meet any particular technical standards, specifications, or requirements, only that we use such standards, including ISO 27001, as a guide to help us identify, detect, assess, and manage reasonably foreseeable cybersecurity risks and threats relevant to our business.
Our cybersecurity risk management program is supported by both management and our Board of Directors, and is integrated into our overall enterprise risk management program, and shares common methodologies, reporting channels and governance processes that apply across the enterprise risk management program to other legal, compliance, strategic, operational, and financial risk areas.
Key elements of our cybersecurity risk management program include, but are not limited to the following:
•risk assessments designed to help identify reasonably foreseeable material risks from cybersecurity threats to our critical systems, information, products, services, and our broader enterprise IT environment, which are then used to drive alignment on, and prioritization of, initiatives to enhance our security controls, make recommendations to improve processes, and inform a broader enterprise-level risk assessment that is presented to our management team and Audit Committee on a quarterly basis;
•a security team principally responsible for managing (1) our cybersecurity risk assessment processes, (2) our security controls, and (3) our response to cybersecurity incidents;
•the use of external service providers, where appropriate, to assess, test or otherwise assist with aspects of our security processes;
•periodic assessment and deployment of security tools and technical safeguards designed to protect our information systems from reasonably foreseeable cybersecurity threats;
•cybersecurity awareness training of our employees, incident response personnel, and senior management;
•a cybersecurity incident response plan that includes procedures for responding to cybersecurity incidents; and
•controls designed to identify, detect, assess and manage reasonably foreseeable cybersecurity threats associated with our use of key third-party service providers, suppliers and vendors with respect to our critical systems and data based on our assessment of how critical they are to our operations and respective risk profile.
We have not identified any cybersecurity threats, including as a result of prior incidents, that as of the date of this Annual Report have materially affected us, including our operations, business strategy, results of operations, or financial condition. We face risk from cybersecurity threats that, if realized, are reasonably likely to materially affect us, including our operations, business strategy, results of operations, or financial condition. For more information regarding the risks we face from cybersecurity threats, please see Part I, Item 1A. “Risk Factors—Risks Related to Privacy, Consumer Protection and Cybersecurity."
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
We have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and data. We design and assess our program based on the International Organization for Standardization (“ISO”) 27001 framework and other applicable industry standards. This does not imply that we meet any particular technical standards, specifications, or requirements, only that we use such standards, including ISO 27001, as a guide to help us identify, detect, assess, and manage reasonably foreseeable cybersecurity risks and threats relevant to our business.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
Our Board considers cybersecurity risk as part of its risk oversight function and has delegated to the Audit Committee (the "Audit Committee") oversight of cybersecurity risks, including the oversight of management’s implementation of our cybersecurity risk management program.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] management’s implementation of our cybersecurity risk management program.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]
The Committee receives quarterly reports from management and our internal cybersecurity personnel, including our Senior Director of Cybersecurity, on our cybersecurity risks. In addition, management updates the Audit Committee, when it deems appropriate, regarding cybersecurity incidents it considers to be significant. The Audit Committee reports to the full Board regarding its activities, including those related to cybersecurity. The full Board also receives briefings from management on our cyber risk management program.
Cybersecurity Risk Role of Management [Text Block] Our management team takes steps to stay informed about and monitor efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private sources, including external consultants engaged by us from time to time to review and assess our cyber programs and policies; and alerts and reports produced by security tools deployed in our IT environment. In addition, our Chief Financial Officer, Chief Technology Officer and Chief Legal Officer are members of our internal Cybersecurity Governance Committee, chaired by the Senior Director of Cybersecurity, a management committee comprised of leadership from primary corporate functions including Finance, Human Resources, Information Technology, Engineering, Internal Audit and Legal, which meets quarterly to drive alignment on security decisions across the Company, including reviewing security performance metrics, identifying security risks, and assessing the status of approved security enhancements.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
Our management team, including our Chief Financial Officer, Chief Legal Officer and Chief Technology Officer, is responsible for assessing and managing our material risks from cybersecurity threats, and has primary responsibility for our overall cybersecurity risk management program. The management team has broad experience in overseeing and managing enterprise risk, governance and compliance functions, and supervises both our internal cybersecurity personnel, including our Senior Director of Cybersecurity who reports directly to our Chief Financial Officer, and external cybersecurity consultants retained from time to time, in each case who have broad cybersecurity experience and expertise, including in threat assessments and detection, mitigation technologies, training, incident response, cyber forensics, insider threats and regulatory compliance.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] The management team has broad experience in overseeing and managing enterprise risk, governance and compliance functions, and supervises both our internal cybersecurity personnel, including our Senior Director of Cybersecurity who reports directly to our Chief Financial Officer, and external cybersecurity consultants retained from time to time, in each case who have broad cybersecurity experience and expertise, including in threat assessments and detection, mitigation technologies, training, incident response, cyber forensics, insider threats and regulatory compliance.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] Our management team, including our Chief Financial Officer, Chief Legal Officer and Chief Technology Officer, is responsible for assessing and managing our material risks from cybersecurity threats, and has primary responsibility for our overall cybersecurity risk management program.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Principles of Consolidation
Principles of Consolidation and Basis of Presentation
The Company’s consolidated financial statements include the accounts of the Company and the accounts of the Company’s wholly-owned subsidiaries, its non-wholly owned subsidiaries where the Company has a controlling interest and variable interest entities ("VIE") formed in connection with the Company's collaboration with Maximum Effort, defined below, on the launch and distribution of the Maximum Effort Channel, and production and development of original programming (the "MEC Entities"). Generally accepted accounting principles require that if an entity is the primary beneficiary of a VIE, the entity should consolidate the assets, liabilities and results of operations of the VIE in its consolidated financial statements. The primary beneficiary is the party that has both of the following: (i) the power to direct the activities that most significantly impact the economic performance of the VIE, and (ii) the obligation to absorb the losses or rights to receive the benefits of the entity that could potentially be significant to the VIE. The Company considers itself to be the primary beneficiary of the MEC Entities and accordingly, has consolidated these entities since their formation in 2023, with the equity interests of the unaffiliated investors presented as non-controlling interests in the accompanying consolidated financial statements. All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management bases its estimates on historical experience and on various other assumptions it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates. Those estimates and assumptions include allocating the fair value of purchase consideration to assets acquired and liabilities assumed in business acquisitions, useful lives of property and equipment and intangible assets, recoverability of goodwill and intangible assets, accruals for contingent liabilities, equity instruments issued in share-based payment arrangements, and accounting for income taxes, including the valuation allowance on deferred tax assets.
Segment Reporting Unit Information
Segment and Reporting Unit Information
Operating segments are defined as components of an entity for which discrete financial information is available that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The Company’s Chief Executive Officer is determined to be the CODM. The CODM reviews financial information and makes resource allocation decisions at the consolidated group level. The Company has one operating segment as of December 31, 2024, the streaming business.
Cash, Cash Equivalents and Restricted Cash
Cash and Cash Equivalents and Restricted Cash
The Company considers all highly liquid investments with remaining maturities at the date of purchase of three months or less to be cash equivalents, including balances held in the Company’s money market accounts. Restricted cash primarily represents cash on deposit with financial institutions in support of a letter of credit outstanding in favor of the Company’s landlord for office space. The restricted cash balance has been excluded from the cash balance and is classified as restricted cash on the consolidated balance sheets.
Certain Risks and Concentrations
Certain Risks and Concentrations
Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of demand deposits and accounts receivable. The Company maintains cash deposits with financial institutions that at times exceed applicable insurance limits.
The majority of the Company’s software and computer systems utilize data processing, storage capabilities and other services provided by Google Cloud Platform and Amazon Web Services, which cannot be easily switched to another cloud service provider. As such, any disruption of the Company’s interference with Google Cloud Platform and Amazon Web Services could adversely impact the Company’s operations and business.
Fair Value Estimates
Fair Value Estimates
The carrying amounts of the Company’s financial assets and liabilities, such as cash, other assets, accounts payable and accrued payroll, approximate their fair values because of the short maturity of these instruments. The carrying amounts of notes payable and long-term borrowings approximate their fair values due to the short-term maturity and the fact that the effective interest rates on these obligations are comparable to market interest rates for instruments of similar credit risk.
Fair Value of Financial Instruments
Fair Value of Financial Instruments
The Company accounts for financial instruments under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurements. This statement defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements, ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows:
Level 1 —    quoted prices (unadjusted) in active markets for identical assets or liabilities;
Level 2 —    observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and
Level 3 —    assets and liabilities whose significant value drivers are unobservable.
Accounts Receivable, net
Accounts Receivable, net
The Company records accounts receivable at the invoiced amount less an allowance for any potentially uncollectible accounts. The Company’s accounts receivable balance primarily consists of amounts due from the sale of advertisements and subscription revenue. In evaluating our ability to collect outstanding receivable balances, we consider many factors, including the age of the balance, collection history, and current economic trends. Bad debts are written off after all collection efforts have ceased. Based on the Company’s current and historical collection experience, management concluded that an allowance for credit losses was not necessary as of December 31, 2024 and 2023.
Property, Plant and Equipment, Net
Property and Equipment, Net
Property and equipment is stated at cost, net of accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are depreciated over the shorter of the lease term or the estimated useful life of the assets. When assets are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the consolidated statements of operations and comprehensive loss in the period realized. Maintenance and repairs are expensed as incurred.
Licensed Content
Licensed Content
The Company entered into various license agreements to obtain rights to certain live sports events. Costs incurred in acquiring certain rights to live sporting events are accounted for in accordance with ASC 920, Entertainment—Broadcasters (“ASC 920”). These program rights are recorded in subscriber related expenses in a manner consistent with how it expects to monetize the licensed content, which is primarily based on subscription revenue.
Cash flows for licensed content are presented within operating activities in the consolidated statements of cash flows.
Impairment or Disposal of Long-Lived Assets
Impairment Testing of Long-Lived Assets
The Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that their net book value may not be recoverable. When such factors and circumstances exist, the Company compares the projected undiscounted future cash flows associated with the related asset or group of assets over their estimated useful lives against their respective carrying amount. Impairment, if any, is based on the excess of the carrying amount over the fair value and is recorded in the period in which the determination is made. Fair value is based on those assets' market value when available or discounted expected cash flows .
In August 2022, the Company initiated a strategic review of Fubo Sportsbook, and in October 2022 ceased operations of Fubo Sportsbook in connection with the dissolution of Fubo Gaming. For the year ended December 31, 2022, the Company recognized an aggregate non-cash impairment charge of $76.7 million which represented substantially all of the long-lived assets of Fubo Sportsbook which is recorded in loss from discontinued operations in the consolidated statement of operations and comprehensive loss.
Exit and Disposal Costs
Exit and Disposal Costs
The Company accounts for exit or disposal activities, including termination of a line of business or restructuring, in accordance with ASC 420 , Exit or Disposal Cost Obligations. The Company defines a business restructuring as an exit or disposal activity that includes but is not limited to a program which is planned and controlled by management and materially changes either the scope of a business or the manner in which that business is conducted. Under ASC 420, a liability for a cost associated with an exit or disposal activity is measured at its fair value and recognized as incurred. Business restructuring charges may include (i) contract termination costs and (ii) other related costs associated with exit or disposal activities. Contract termination costs include costs to terminate a contract or costs that will continue to be incurred under the contract without benefit to the Company. A liability is recognized and measured at its fair value when the Company either terminates the contract or ceases using the rights conveyed by the contract. The Company estimates the fair value using a probability-weighted cash flow approach. A subsequent change resulting from a revision to either the timing or the amount of estimated cash flows is recognized as an adjustment to the liability in the period of the change. During the year ended December 31, 2022, the Company recognized liabilities in connection with the dissolution of Fubo Gaming (See Note 4), including termination of certain contracts and severance and other employee related costs.
Goodwill
Goodwill
The Company tests goodwill for impairment at the reporting unit level on an annual basis on October 1 for each fiscal year or more frequently if events or changes in circumstances indicate that the carrying amount of goodwill may not be recoverable. The Company assesses qualitative factors to determine whether it is more likely than not that the fair value of a single reporting unit is less than its carrying amount under Accounting Standards Update (“ASU”) No. 2017-04, Goodwill and Other (Topic 350): Simplifying the Accounting for Goodwill Impairment, issued by the FASB. If it is determined that the fair value is less than its carrying amount, the excess of the goodwill carrying amount over the implied fair value is recognized as an impairment loss.
Intangible Assets
Intangible Assets, net
The Company’s intangible assets represent definite lived intangible assets, which are being amortized on a straight-line basis over their estimated useful lives as follows:
Customer relationships2 years
Trade names
2-9 years
Capitalized internal use software3 years
Software and technology
3-9 years
We capitalize qualifying development costs associated with software that is developed or obtained for internal use, provided that management with the relevant authority authorizes and commits to the funding of the project, it is probable the project will be completed and the software will be used to perform the function intended. Capitalized costs, including costs incurred for enhancements that are expected to result in additional significant functionality are capitalized and amortized on a straight-line basis over the estimated useful life, which approximates three years. Costs related to preliminary project activities and post-implementation operation activities, including training and maintenance, are expensed as incurred.
Non-Controlling Interest
Non-Controlling Interest
Non-controlling interest as of December 31, 2024 and 2023 represents Pulse Evolution Corp. shareholders who retained an aggregate 23.4% interest in that entity following the Company's acquisition of Evolution AI Corporation in October 2020, and Maximum Effort Productions, LLC and MEP FTV Holdings, LLC 50.0% interest in the MEC Entities. Non-controlling interest is adjusted for the non-controlling interest holders’ proportionate share of the earnings or losses even if loss allocations result in a deficit non-controlling interest balance.
Leases
Leases
The Company accounts for its leases under ASC 842, Leases. Under this guidance, arrangements meeting the definition of a lease are classified as operating or financing leases and are recorded on the consolidated balance sheets as both a right-of-use asset and lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company’s incremental borrowing rate. Lease liabilities are increased by interest and reduced by payments each period, and the right-of-use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right-of-use asset result in straight-line rent expense over the lease term.
In calculating the right-of-use asset and lease liability, the Company elects to combine lease and non-lease components. The Company also elected not to include short term leases having initial terms of 12 months or less in its right-of-use asset and lease liabilities and recognizes rent expense for these short-term leases on a straight-line basis over the lease term.
Revenue from Contract with Customer
Revenue From Contracts With Customers
The Company recognizes revenue from contracts with customers under ASC 606, Revenue from Contracts with Customers (the “revenue standard”). The core principle of the revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. A good or service is transferred to a customer when, or as, the customer obtains control of that good or service. The following five steps are applied to achieve that core principle:
•Step 1: Identify the contract with the customer
•Step 2: Identify the performance obligations in the contract
•Step 3: Determine the transaction price
•Step 4: Allocate the transaction price to the performance obligations in the contract
•Step 5: Recognize revenue when the company satisfies a performance obligation
In 2024, the Company generated revenue from the following sources:
1.Subscriptions – The Company sells various subscription plans through its website and third-party app stores. These subscription plans provide different levels of streamed content and functionality depending on the plan selected. Subscription fees are fixed and paid in advance by credit card primarily on a monthly basis. A subscription customer executes a contract by agreeing to the Company’s terms of service. The Company considers the subscription contract legally enforceable once the customer has accepted terms of service and the Company has received credit card authorization from the customer’s credit card company. The terms of service allow customers to terminate the subscription at any time, however, in the event of termination, no prepaid subscription fees are refundable. The Company recognizes revenue when it satisfies a performance obligation by transferring control of the promised services to the customers, which is ratably over the subscription period. Upon the customer agreeing to the Company’s terms and conditions and authorization of the credit card, the customer simultaneously receives and consumes the benefits of the streamed content ratably throughout the term of the contract. Subscription services sold through third-party app stores are recorded gross in revenue with fees to the third-party app stores recorded in subscriber related expenses in the consolidated statement of operations and comprehensive loss. Management concluded that the customers are the end user of the subscription services sold by these third-party app stores.
2.Advertising – The Company executes agreements with advertisers that want to display ads (“impressions”) within the streamed content. The Company enters into individual insertion orders (“IOs”) with advertisers, which specify the term of each ad campaign, the number of impressions to be delivered and the applicable rate to be charged. The Company invoices advertisers monthly for impressions actually delivered during the period. Each executed IO provides the terms and conditions agreed to in respect of each party’s obligations. The Company recognizes revenue at a point in time when it satisfies a performance obligation by transferring control of the promised services to the advertiser, which generally is when the advertisement has been displayed.
3.Other revenue – Other revenue consists of distribution fees, commissions, and carriage fees earned on sales through a channel distribution platform. The Company recognizes revenue at a point in time when it satisfies a performance obligation by transferring control of the promised services to the customers.
Subscriber Related Expenses
Subscriber Related Expenses
Subscriber related expenses consist primarily of affiliate distribution rights and other distribution costs related to content streaming. The cost of affiliate distribution rights is generally incurred on a per subscriber basis and is recognized when the related programming is distributed to subscribers. Subscriber related expenses also include credit card and payment processing fees for subscription revenue, customer service, certain employee compensation and benefits, cloud computing, streaming, and facility costs. The Company receives advertising spots from television networks for sale to advertisers as part of the affiliate distribution agreements.
Broadcasting and Transmission
Broadcasting and Transmission
Broadcasting and transmission expenses are charged to operations as incurred and consist primarily of the cost to acquire a signal, transcode, store, and retransmit it to the subscriber.
Sales and Marketing
Sales and Marketing
Sales and marketing expenses consist primarily of payroll and related costs, benefits, rent and utilities, stock-based compensation, agency costs, advertising campaigns and branding initiatives. All sales and marketing costs are expensed as they are incurred.
Technology and Development
Technology and Development
Technology and development expenses are charged to operations as incurred. Technology and development expenses consist primarily of payroll and related costs, benefits, rent and utilities, stock-based compensation, technical services, software expenses, and hosting expenses.
General and Administrative
General and Administrative
General and administrative expenses consist primarily of payroll and related costs, benefits, rent and utilities, stock-based compensation, corporate insurance, office expenses, professional fees, as well as travel, meals, and entertainment costs.
Stock-Based Compensation
Stock-Based Compensation
The Company accounts for the fair value of restricted stock units using the closing market price of its common stock on the date of the grant.
The Company accounts for share-based payment awards exchanged for services at the estimated grant date fair value of the award. Stock options issued under the Company’s long-term incentive plans are granted with an exercise price equal to no less than the market price of the Company’s stock at the date of grant and expire up to ten years from the date of grant. These options generally vest over a four-year period.
The Company estimates the fair value of stock option grants using the Black-Scholes option pricing model and the assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment.
Expected Term - The expected term of options represents the period that the Company’s stock-based awards are expected to be outstanding based on the simplified method, which is the half-life from vesting to the end of its contractual term. The simplified method was used because the Company does not have sufficient historical exercise data to provide a reasonable basis for an estimate of expected term.
Expected Volatility – The Company historically has lacked sufficient company specific historical and implied volatility information. Therefore, it estimates its expected stock volatility based primarily on the historical volatility of a publicly traded set of peer companies with consideration of the volatility of its own traded stock price.
Risk-Free Interest Rate - The Company bases the risk-free interest rate on the implied yield available on U. S. Treasury zero-coupon issues with an equivalent remaining term.
Expected Dividend - The Company has never declared or paid any cash dividends on its common shares and does not plan to pay cash dividends in the foreseeable future, and, therefore, uses an expected dividend yield of zero in its valuation models.
The Company accounts for forfeited awards as they occur.
Income Taxes
Income Taxes
The Company accounts for income taxes under the asset and liability method, in which deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. A valuation allowance is required to the extent any deferred tax assets may not be realizable.
ASC Topic 740, Income Taxes, (“ASC 740”), also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim period, disclosure and transition. Based on the Company’s evaluation, it has been concluded that there are no significant uncertain tax positions requiring recognition in the Company’s consolidated financial statements. The Company believes that its income tax positions and deductions would be sustained on audit and does not anticipate any adjustments that would result in material changes to its financial position.
Foreign Currency
Foreign Currency
The Company’s reporting currency is the U.S. dollar while the functional currencies of non-U.S. subsidiaries is determined based on the primary economic environment in which the subsidiary operates. The financial statements of non-U.S. subsidiaries are translated into United States dollars in accordance with ASC 830, Foreign Currency Matters, using period-end rates of exchange for assets and liabilities, and average rates of exchange for the period for revenues, costs, and expenses and historical rates for equity. Translation adjustments resulting from the process of translating the local currency financial statements into U.S. dollars are included in determining other comprehensive income (loss).
Net Loss Per Share
Net Loss Per Share
Basic net loss per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period.
The following table presents the calculation of basic and diluted net loss per share (in thousands, except per share data):
Years Ended December 31,
202420232022
Basic loss per share:
Loss from continuing operations$(177,778)$(293,102)$(425,045)
Less: net loss attributable to non-controlling interest3,837 463 442 
Loss from continuing operations available to common shareholders(173,941)(292,639)(424,603)
Net income (loss) from discontinued operations, net of tax1,687 5,185 (136,874)
Net loss attributable to common shareholders$(172,254)$(287,454)$(561,477)
Shares used in computation:
Weighted-average common shares outstanding319,653,763 276,282,572 182,472,069 
Basic and diluted loss per share from continuing operations $(0.54)$(1.06)$(2.33)
Basic and diluted income (loss) per share from discontinued operations $— $0.02 $(0.75)
Basic and diluted loss per share$(0.54)$(1.04)$(3.08)
The following common share equivalents are excluded from the calculation of weighted average common shares outstanding because their inclusion would have been anti-dilutive:
December 31,
202420232022
Warrants to purchase common stock166,670 166,670 166,670 
Stock options18,749,529 19,028,904 15,517,069 
Unvested restricted stock units29,741,185 22,349,609 14,575,629 
Convertible notes variable settlement feature48,771,938 6,879,543 6,966,078 
Total97,429,322 48,424,726 37,225,446 
Recently Issued Accounting Standards
Recent Accounting Pronouncements
The Company continually assesses any new accounting pronouncements to determine their applicability. When it is determined that a new accounting pronouncement affects the Company’s financial reporting, the Company undertakes a study to determine the consequences of the change to its financial statements and assures that there are proper controls in place to ascertain that the Company’s financial statements properly reflect the change.
Recently Adopted Accounting Standards
In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07 requires companies to provide enhanced disclosures about significant segment expenses within its reportable segment disclosures on an annual and interim basis. The guidance was applied retrospectively to all prior periods presented in financial statements and is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The Company incorporated the required disclosure updates in these financial statements.
Recently Issued Accounting Standards
In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740): Improvements to Income Tax Disclosures, requires incremental disclosures within the income tax disclosures that increase the transparency and usefulness of income tax disclosures. The updated disclosures primarily require specific categories and greater disaggregation within the rate reconciliation, disaggregation of income taxes paid, and modifications of other income tax-related disclosures. The guidance is effective for annual periods beginning after December 15, 2024. Retrospective application is also permitted. The Company is currently evaluating the impact of this standard on our consolidated financial statements and related disclosures.
In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expense sand in January 2025, the FASB issued ASU 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date. This standard requires public companies to disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. The new standard, as clarified by ASU 2025-01, is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently in the process of evaluating the effects of the new guidance.
In November 2024, the FASB issued ASU 2024-04, Debt-Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments. This standard clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. It is effective for fiscal years beginning after December 15, 2025 and is permitted on either a prospective or retrospective basis. The Company is currently in the process of evaluating the effects of the new guidance.
v3.25.0.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Schedule of Restrictions on Cash and Cash Equivalents
The following table provides a reconciliation of cash and cash equivalents and restricted cash within the consolidated balance sheets that sum to the total of the same on the consolidated statement of cash flows (in thousands):
December 31,
20242023
Cash and cash equivalents$161,435 $245,278 
Restricted cash6,137 6,142 
Total cash and cash equivalents and restricted cash$167,572 $251,420 
Schedule of Intangible Assets Estimated Useful Life
The Company’s intangible assets represent definite lived intangible assets, which are being amortized on a straight-line basis over their estimated useful lives as follows:
Customer relationships2 years
Trade names
2-9 years
Capitalized internal use software3 years
Software and technology
3-9 years
Schedule of Earnings per Share, Basic and Diluted
The following table presents the calculation of basic and diluted net loss per share (in thousands, except per share data):
Years Ended December 31,
202420232022
Basic loss per share:
Loss from continuing operations$(177,778)$(293,102)$(425,045)
Less: net loss attributable to non-controlling interest3,837 463 442 
Loss from continuing operations available to common shareholders(173,941)(292,639)(424,603)
Net income (loss) from discontinued operations, net of tax1,687 5,185 (136,874)
Net loss attributable to common shareholders$(172,254)$(287,454)$(561,477)
Shares used in computation:
Weighted-average common shares outstanding319,653,763 276,282,572 182,472,069 
Basic and diluted loss per share from continuing operations $(0.54)$(1.06)$(2.33)
Basic and diluted income (loss) per share from discontinued operations $— $0.02 $(0.75)
Basic and diluted loss per share$(0.54)$(1.04)$(3.08)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The following common share equivalents are excluded from the calculation of weighted average common shares outstanding because their inclusion would have been anti-dilutive:
December 31,
202420232022
Warrants to purchase common stock166,670 166,670 166,670 
Stock options18,749,529 19,028,904 15,517,069 
Unvested restricted stock units29,741,185 22,349,609 14,575,629 
Convertible notes variable settlement feature48,771,938 6,879,543 6,966,078 
Total97,429,322 48,424,726 37,225,446 
v3.25.0.1
Discontinued Operations (Tables)
 12 Months Ended
Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Disposal Groups, Including Discontinued Operations
Net income (loss) from Fubo Gaming's discontinued operations consists of the following (in thousands):
Years Ended December 31,
202420232022
Revenues
Wagering$— $— $(759)
Total revenues— — (759)
Operating expenses
Sales and marketing— (59)9,976 
Technology and development— 17 9,220 
General and administrative275 1,370 28,481 
Depreciation and amortization— 158 433 
Gain on extinguishment and remeasurement of certain liabilities(1,962)(6,671)— 
Impairment of goodwill, intangible assets, and other long-lived assets, net— — 87,365 
 Total operating expenses(1,687)(5,185)135,475 
Operating income (loss)1,687 5,185 (136,234)
Other income (expense)
Interest expense— — (598)
Other income (expense) — — (42)
Total other expense— — (640)
Net income (loss) from discontinued operations before income taxes1,687 5,185 (136,874)
Income tax benefit— — — 
Net income (loss) from discontinued operations$1,687 $5,185 $(136,874)
The carrying amounts of the major classes of assets and liabilities classified as discontinued operations are as follows (in thousands):
December 31,
20242023
ASSETS
Current assets
Cash and cash equivalents$— $462 
Prepaid and other current assets— — 
Total assets - discontinued operations$— $462 
LIABILITIES
Current liabilities
Accounts payable$— $2,195 
Accrued expenses and other current liabilities— 17,413 
Total liabilities - discontinued operations$— $19,608 
v3.25.0.1
Revenue from Contracts with Customers (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue from External Customers by Geographic Areas
The following tables summarize subscription revenue and advertising revenue by region (in thousands):
Subscription
Years Ended December 31,
202420232022
United States and Canada (North America)$1,466,242 $1,217,905 $882,679 
Rest of world33,859 31,674 23,207 
Total subscription revenues$1,500,101 $1,249,579 $905,886 
Advertising
Years Ended December 31,
202420232022
United States and Canada (North America)$114,023 $114,247 $100,605 
Rest of world1,177 1,123 1,134 
Total advertising revenues$115,200 $115,370 $101,739 
v3.25.0.1
Property and equipment, net (Tables)
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment, net
Property and equipment, net, is comprised of the following (in thousands):
December 31,
Useful Lives
 (Years)		20242023
Furniture and fixtures5$693 $532 
Computer equipment
3 - 5
6,431 3,949 
Leasehold improvementsTerm of lease5,304 5,302 
 12,428 9,783 
Less: Accumulated depreciation (6,348)(4,948)
Total property and equipment, net $6,080 $4,835 
v3.25.0.1
Intangible Assets and Goodwill (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets
The table below summarizes the Company’s intangible assets (in thousands):
Useful Lives
(Years)		Weighted Average Remaining
 Life (Years)		December 31, 2024
Intangible AssetsAccumulated AmortizationNet Balance
Trade names
2-9
4.238,822 (20,784)18,038 
Capitalized internal use software31.837,238 (16,087)21,151 
Software and technology
3-9
4.1196,821 (102,307)94,514 
Total$272,881 $(139,178)$133,703 
Useful Lives
(Years)		Weighted Average Remaining
 Life (Years)		December 31, 2023
Intangible AssetsAccumulated Amortization Net Balance
Customer relationships20.0$32,729 $(32,729)$— 
Trade names
2-9
5.238,859 (16,578)22,281 
Capitalized internal use software32.325,770 (5,893)19,877 
Software and technology
3-9
5.1196,136 (79,846)116,290 
Total$293,494 $(135,046)$158,448 
Schedule of Finite-lived Intangible Assets Amortization Expense
The estimated future amortization expense associated with intangible assets is as follows (in thousands):
Future Amortization
202537,715 
202635,330 
202729,033 
202825,305 
20296,320 
Total$133,703 
Schedule of Goodwill
The following table is a summary of the changes to goodwill (in thousands):
December 31,
20242023
Beginning balance$622,818 $618,506 
Foreign currency translation adjustment(7,419)4,312 
Ending balance$615,399 $622,818 
v3.25.0.1
Accounts Payable, Accrued Expenses and Other Long-Term Liabilities (Tables)
 12 Months Ended
Dec. 31, 2024
Payables and Accruals [Abstract]  
Schedule of Accounts Payable and Accrued Liabilities
Accounts payable, accrued expenses and other long-term liabilities are presented below (in thousands):
December 31,
20242023
Affiliate fees$283,953 $266,089 
Broadcasting and transmission10,921 13,097 
Selling and marketing22,580 33,925 
Accrued compensation11,726 13,218 
Legal and professional fees14,500 3,672 
Sales tax34,067 42,590 
Guaranteed liabilities of Fubo Gaming
12,488 — 
Accrued interest6,772 4,671 
Subscriber related1,568 1,624 
Shares settled liability8,424 5,131 
Other12,802 11,970 
Total$419,801 $395,987 
v3.25.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign
The loss before income taxes on continuing operations includes the following components (in thousands):
For the Years Ended December 31,
202420232022
United States$178,697 $283,988 $399,941 
International(1,578)9,993 26,770 
Loss before income taxes$177,119 $293,981 $426,711 
Schedule of Components of Income Tax (Provision) Benefit
The (provision) benefit of income taxes on continuing operations consist of the following (in thousands):
For the Years Ended December 31,
202420232022
U.S. Federal
Current$— $— $— 
Deferred— 620 1,351 
State and local
Current(314)(116)— 
Deferred— 145 315 
Foreign
Current(127)——
Deferred(218)230 —
Income tax (provision) benefit
$(659)$879 $1,666 
Schedule of Effective Income Tax Rate Reconciliation
A reconciliation of the statutory federal rate on continuing operations to the Company’s effective tax rate on continuing operations is as follows:
December 31,
202420232022
Federal rate21.00 %21.00 %21.00 %
State income taxes, net of federal benefit3.48 2.57 0.07 
Other nontaxable of nondeductible items(3.46)(0.05)— 
Stock-based compensation0.44 (1.33)(0.67)
Effect of cross-border tax laws(0.54)— — 
Change in fair value of derivative, warrant liability, and gain on extinguishment of convertible notes— — (0.08)
Amortization of debt discount— — (0.67)
Foreign rate differential(0.04)0.14 0.34 
Effect of changes in tax laws or rates enacted in the current period(0.32)(0.83)— 
Change in valuation allowance(20.13)(21.73)(18.94)
Other(0.82)0.53 (0.66)
Income tax (provision) benefit
(0.39)%0.30 %0.39 %
Schedule of Deferred Tax Assets and Liabilities
The components of our deferred tax assets are as follows (in thousands):
December 31,
20242023
Deferred tax assets:
Net operating losses$384,838 $366,837 
Accruals and deferrals13,461 15,115 
Stock-based compensation16,984 16,235 
Interest expense limitation18,352 14,860 
Leasing assets9,023 9,375 
Deferred financing fees
7,582 — 
Other39 30 
Total deferred tax assets450,279 422,452 
Less: Valuation allowance(420,749)(385,461)
Net deferred tax assets$29,530 $36,991 
  
Deferred tax liabilities:  
Intangible assets$21,875 $29,073 
Property and equipment7,643 7,688 
Deferred state income tax— — 
Total deferred tax liabilities$29,518 $36,761 
  
Net deferred tax assets
$12 $230 
v3.25.0.1
Notes Payable, Long-Term Borrowing, and Convertible Notes (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Debt
Notes payable, long-term borrowings, and convertible notes consist of the following (in thousands):
NoteStated Interest Rate Principal BalanceCapitalized Interest
Debt (Discount) Premium
December 31, 2024
2026 Convertible Notes3.25 %$144,765 $— $(1,132)$143,633 
2029 Convertible Notes7.5 %177,506 — 11,244 $188,750 
Note payable10.0 %2,700 4,284 — 6,984 
BPi France2.25 %1,042 — — 1,042 
Other4.0 %30 10 — 40 
$326,043 $4,294 $10,112 $340,449 
NoteStated Interest Rate Principal BalanceCapitalized InterestDebt Discount December 31, 2023
2026 Convertible Notes3.25 %$397,500 $— $(5,752)$391,748 
Note payable10.0 %2,700 3,585 — 6,285 
BPi France2.25 %1,612 — — 1,612 
Other4.0 %30 8 — 38 
$401,842 $3,593 $(5,752)$399,683 
v3.25.0.1
Segments and Geographic Information (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following tables set forth our financial performance by geographical location (in thousands):
Total long-lived assets and rights-of-use assets
December 31,
20242023
United States165,481 190,113 
Rest of world6,139 8,995 
Total revenue
For the Years Ended December 31,
202420232022
United States$1,557,846 $1,309,438 $972,220 
Rest of world64,950 58,787 36,476 
Total revenue$1,622,796 $1,368,225 $1,008,696 
The following table provides the significant expenses and gross profit with a reconciliation to net loss from continuing operations for the periods indicated, which are regularly reviewed by the CODM (in thousands):
For the Years Ended December 31,
202420232022
Total revenue$1,622,796 $1,368,225$1,008,696
Gross profit (loss) (1)
203,911 86,148 (41,096)
Significant expenses:
Sales and marketing (2)
185,148 184,159 161,417 
Technology and development (2)
67,801 55,651 59,266 
General and administrative (2)
62,436 48,188 61,037 
Other segment expenses (3)
66,304 91,252 102,229 
Net loss from continuing operations(177,778)(293,102)(425,045)
(1) Gross profit (loss) is calculated as total revenue less Subscriber related expenses and Broadcasting and transmission expenses.
(2) Sales and marketing, Technology and development, and General and administrative expense categories regularly provided to the CODM exclude stock-based compensation.
(3) Other segment expenses include depreciation and amortization, impairment of other assets, stock-based compensation expense, total other income (expense), and (provision) benefit for income taxes.
v3.25.0.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table classifies the Company’s assets and liabilities measured at fair value on a recurring basis into the fair value hierarchy (in thousands):
Fair valued measured at December 31, 2024
Quoted prices in active markets
(Level 1)		Significant other observable inputs
(Level 2)		Significant unobservable inputs
(Level 3)		Total
Financial assets at fair value:
Cash and cash equivalents
Money market securities$111,130 $— $— $111,130 
Total financial assets at fair value$111,130 $— $— $111,130 

Fair valued measured at December 31, 2023
Quoted prices in active markets
(Level 1)		Significant other observable inputs
(Level 2)		Significant unobservable inputs
(Level 3)		Total
Financial assets at fair value:
Cash and cash equivalents
Money market securities$205,074 $— $— $205,074 
Total financial assets at fair value$205,074 $— $— $205,074 
v3.25.0.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense
The Company recognized stock-based compensation expense as follows (in thousands):
Years Ended December 31,
202420232022
Subscriber related$324 $211 $144 
Sales and marketing17,341 22,886 22,198 
Technology and development12,208 12,024 9,998 
General and administrative12,637 16,094 20,114 
$42,510 $51,215 $52,454 
Schedule of of Stock Option Activity
A summary of stock option activity for the year ended December 31, 2024, is as follows (in thousands, except share and per share amounts):
Number of Shares Weighted Average Exercise PriceTotal Intrinsic ValueWeighted Average Remaining Contractual Life
 (in years)
Outstanding as of December 31, 2023
10,475,607 $6.31 $6,534 5.3
Exercised(4,042)$0.87   
Forfeited or expired(275,333)$12.99   
Outstanding as of December 31, 2024
10,196,232 $6.13 $1,036 4.4
    
Options vested and exercisable as of December 31, 2024
9,610,252 $6.39 $1,036 4.3
A summary of activity under the Plan for market and service-based stock options for the year ended December 31, 2024 is as follows (in thousands, except share and per share amounts):
Number of SharesWeighted Average Exercise PriceTotal Intrinsic ValueWeighted Average Remaining Contractual Life
(in years)
Outstanding as of December 31, 2023
4,453,297 $12.75 $— 3.7
Outstanding as of December 31, 2024
4,453,297 $12.75 $— 2.7
    
Options vested and exercisable as of December 31, 2024
3,994,964 $11.96 $— 2.6
Schedule of Determining the Fair Value of Stock Options Granted
The following was used in determining the fair value of stock options granted:
December 31,
2023
Dividend yield— %
Expected price volatility49.8 %
Risk free interest rate3.9 %
Expected term (years)6.0
Schedule of Nonvested Restricted Stock Units Activity
A summary of the Company’s time-based restricted stock unit activity during the year ended December 31, 2024 is as follows:
Number of Shares Weighted Average Grant-Date Fair Value
Unvested at December 31, 2023
20,313,775 $3.85 
Granted15,812,986 $1.55 
Vested(7,095,430)$3.65 
Forfeited(2,321,974)$4.64 
Unvested at December 31, 2024
26,709,357 $2.47 
A summary of the Company’s performance-based restricted stock unit activity during the year ended December 31, 2024 is as follows:
Number of SharesWeighted Average Grant-Date Fair Value
Unvested at December 31, 2023
2,035,834 $7.75 
Granted1,185,819 $1.55 
Forfeited(189,825)$3.26 
Unvested at December 31, 2024
3,031,828 $5.61 
Schedule of Outstanding Warrants
A summary of the Company’s outstanding warrants as of December 31, 2024, are presented below (in thousands, except share and per share amounts):
Number of Warrants Weighted Average Exercise PriceTotal Intrinsic ValueWeighted Average Remaining Contractual Life
(in years)
Outstanding as of December 31, 2023
166,670 $17.40 $— 8.6
Outstanding as of December 31, 2024
166,670 $17.40 $— 7.6
v3.25.0.1
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Lease, Cost
The components of lease expense were as follows (in thousands):
Years Ended December 31,
202420232022
Operating leases   
Operating lease cost$6,974 $6,513 $5,711 
Other lease cost945 256 239 
Operating lease expense7,919 6,769 5,950 
Short-term lease rent expense— 132 167 
Total rent expense$7,919 $6,901 $6,117 
Schedule of Cash Flow, Supplemental Disclosures
Supplemental cash flow information related to leases were as follows (amounts in thousands):
Years Ended December 31,
202420232022
Operating cash flows from operating leases$7,994$5,939$1,421
Right of use assets exchanged for operating lease liabilities$—$3,062$4,312
Weighted average remaining lease term - operating leases9.1 years9.9 years11.3 years
Weighted average remaining discount rate - operating leases7.7%7.8%7.4%
Schedule of Lessee, Operating Lease, Liability, Maturity
Maturities of the Company’s operating leases from continuing operations, are as follows (in thousands):
Year Ended December 31, 2025$7,751 
Year Ended December 31, 20265,991 
Year Ended December 31, 20274,831 
Year Ended December 31, 20284,403 
Year Ended December 31, 20294,403 
Thereafter27,334 
Total54,713 
Less present value discount(16,738)
Operating lease liabilities$37,975 
Annual Sponsorship Agreements
Year Ended December 31, 2025$3,275 
Year Ended December 31, 20263,325 
Year Ended December 31, 20273,425 
Year Ended December 31, 20283,525 
Year Ended December 31, 20293,575 
Thereafter9,150 
Total$26,275 
Future payments under these agreements are as follows:
Year Ended December 31, 2025$39,128 
Year Ended December 31, 202632,018 
Year Ended December 31, 202723,558 
Year Ended December 31, 20284,583 
Total$99,287 
v3.25.0.1
Liquidity, Going Concern and Management Plans (Details) - USD ($)
$ / shares in Units, $ in Thousands
 1 Months Ended 12 Months Ended
Jan. 06, 2025
Jan. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Compensating Balances [Line Items]          
Cash, cash equivalents, restricted cash, and restricted cash equivalents     $ 167,600    
Working capital deficit     241,300    
Accumulated deficit     2,017,796 $ 1,845,542  
Net loss from continuing operations     177,778 $ 293,102 $ 425,045
Subsequent Event | Settled Litigation          
Compensating Balances [Line Items]          
Litigation settlement payment $ 220,000 $ 220,000      
Convertible Debt          
Compensating Balances [Line Items]          
Accrued interest     27,100    
2026 Notes | Convertible Debt          
Compensating Balances [Line Items]          
Debt instrument, repurchased face amount     46,900    
Sales Agreement          
Compensating Balances [Line Items]          
Proceeds from issuance of common stock     43,300    
Deduction of commission and expenses     $ 1,000    
Issuance of common stock for cash (in shares)     33,218,851    
Weighted average gross sale price per share     $ 1.33    
v3.25.0.1
Summary of Significant Accounting Policies - Narrative (Details)
 12 Months Ended
Dec. 31, 2024
USD ($)
segment
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2020
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]        
Assets $ 1,077,428,000 $ 1,232,640,000    
Liabilities $ 896,646,000 948,815,000    
Number of operating segments | segment 1      
Impairment of other assets     $ 76,700,000  
Subscriber related expenses excluding FSN $ 1,361,000,000      
Subscriber related expenses excluding FSN 1,361,011,000 1,213,253,000 976,415,000  
Advertising expense $ 149,700,000 151,000,000.0 $ 133,200,000  
Expiration period 10 years      
Award vesting period 4 years      
Impairment intangible asset statement of income or comprehensive income extensible enumeration not disclosed flag       ImpairmentIntangibleAssetStatementOfIncomeOrComprehensiveIncomeExtensibleEnumerationNotDisclosedFlag
Customer Concentration Risk | Accounts Receivable | One Customer        
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]        
Concentration Risk, Percentage 10.00%      
Variable Interest Entity, Primary Beneficiary        
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]        
Assets $ 5,100,000 13,500,000    
Liabilities $ 43,400 $ 3,000,000.0    
PEC stockholders        
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]        
Noncontrolling interest, ownership percentage by noncontrolling owners 23.40%      
MEC Entities        
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]        
Noncontrolling interest, ownership percentage by noncontrolling owners 50.00%      
Gaming Licenses        
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]        
Useful Lives (Years) 3 years      
v3.25.0.1
Summary of Significant Accounting Policies - Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Accounting Policies [Abstract]        
Cash and cash equivalents $ 161,435 $ 245,278    
Restricted cash 6,137 6,142    
Total cash and cash equivalents and restricted cash $ 167,572 $ 251,420 $ 343,226 $ 376,080
v3.25.0.1
Summary of Significant Accounting Policies - Schedule of Intangible Assets Estimated Useful Life (Details)
Dec. 31, 2024
Dec. 31, 2023
Minimum    
Finite-Lived Intangible Assets [Line Items]    
Useful Lives (Years) 9 years  
Maximum    
Finite-Lived Intangible Assets [Line Items]    
Useful Lives (Years) 2 years  
Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Useful Lives (Years) 2 years 2 years
Trade names | Minimum    
Finite-Lived Intangible Assets [Line Items]    
Useful Lives (Years) 2 years 2 years
Trade names | Maximum    
Finite-Lived Intangible Assets [Line Items]    
Useful Lives (Years) 9 years 9 years
Capitalized internal use software    
Finite-Lived Intangible Assets [Line Items]    
Useful Lives (Years) 3 years 3 years
Software and technology | Minimum    
Finite-Lived Intangible Assets [Line Items]    
Useful Lives (Years) 3 years 3 years
Software and technology | Maximum    
Finite-Lived Intangible Assets [Line Items]    
Useful Lives (Years) 9 years 9 years
v3.25.0.1
Summary of Significant Accounting Policies - Schedule of Calculation of Basic and Diluted Net Loss Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Basic loss per share:      
Loss from continuing operations $ (177,778) $ (293,102) $ (425,045)
Less: Net loss attributable to non-controlling interest 3,837 463 442
Loss from continuing operations available to common shareholders (173,941) (292,639) (424,603)
Net income (loss) from discontinued operations, net of tax 1,687 5,185 (136,874)
Net loss attributable to common shareholders $ (172,254) $ (287,454) $ (561,477)
Shares used in computation:      
Weighted-average common shares outstanding - Basic (in shares) 319,653,763 276,282,572 182,472,069
Weighted-average common shares outstanding - Diluted (in shares) 319,653,763 276,282,572 182,472,069
Basic loss per share from continuing operations (in dollars per share) $ (0.54) $ (1.06) $ (2.33)
Diluted loss per share from continuing operations (in dollars per share) (0.54) (1.06) (2.33)
Basic income (loss) per share from discontinued operations (in dollars per share) 0 0.02 (0.75)
Diluted income (loss) per share from discontinued operations (in dollars per share) 0 0.02 (0.75)
Basic loss per share (in usd per share) (0.54) (1.04) (3.08)
Diluted loss per share (in usd per share) $ (0.54) $ (1.04) $ (3.08)
v3.25.0.1
Summary of Significant Accounting Policies - Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from computation of earnings per share 97,429,322 48,424,726 37,225,446
Warrants to purchase common stock      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from computation of earnings per share 166,670 166,670 166,670
Stock options      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from computation of earnings per share 18,749,529 19,028,904 15,517,069
Unvested restricted stock units      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from computation of earnings per share 29,741,185 22,349,609 14,575,629
Convertible notes variable settlement feature      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from computation of earnings per share 48,771,938 6,879,543 6,966,078
v3.25.0.1
Discontinued Operations - Net Loss From Discontinued Operations (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Other income (expense)      
Net income (loss) from discontinued operations before income taxes $ 1,687 $ 5,185 $ (136,874)
Income tax benefit 0 0 0
Discontinued Operations      
Other income (expense)      
Income tax benefit 0 0 0
Net income (loss) from discontinued operations 1,687 5,185 (136,874)
Discontinued Operations | Fubo Gaming      
Revenues      
Total revenues 0 0 (759)
Operating expenses      
Sales and marketing 0 (59) 9,976
Technology and development 0 17 9,220
General and administrative 275 1,370 28,481
Depreciation and amortization 0 158 433
Gain on extinguishment and remeasurement of certain liabilities (1,962) (6,671) 0
Impairment of goodwill, intangible assets, and other long-lived assets, net 0 0 87,365
Total operating expenses (1,687) (5,185) 135,475
Operating income (loss) 1,687 5,185 (136,234)
Other income (expense)      
Interest expense 0 0 (598)
Other income (expense) 0 0 (42)
Total other expense 0 0 (640)
Net income (loss) from discontinued operations before income taxes 1,687 5,185 (136,874)
Discontinued Operations | Wagering | Fubo Gaming      
Revenues      
Total revenues $ 0 $ 0 $ (759)
v3.25.0.1
Discontinued Operations - Narrative (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]      
Impairment of other assets     $ 76,700,000
Share-based payment arrangement, expense $ 42,510,000 $ 51,215,000 52,454,000
Fubo Gaming      
Restructuring Cost and Reserve [Line Items]      
Impairment of other assets     87,400,000
Share-based payment arrangement, expense 0 0 15,900,000
Disposal group, including discontinued operation, guaranteed liabilities 14,000,000    
Disposal group, including discontinued operation, accrued expenses and other current liabilities 17,400,000    
Fubo Gaming | Discontinued Operations      
Restructuring Cost and Reserve [Line Items]      
Gain on extinguishment of liabilities $ 1,962,000 $ 6,671,000 $ 0
v3.25.0.1
Discontinued Operations - Major Classes of Assets and Liabilities Classified as Discontinued Operations (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Total assets - discontinued operations $ 0 $ 462
Current liabilities    
Total liabilities - discontinued operations 0 19,608
Discontinued Operations | Fubo Gaming    
Current assets    
Cash and cash equivalents 0 462
Prepaid and other current assets 0 0
Total assets - discontinued operations 0 462
Current liabilities    
Accounts payable 0 2,195
Accrued expenses and other current liabilities 0 17,413
Total liabilities - discontinued operations $ 0 $ 19,608
v3.25.0.1
Revenue from Contract with Customer - Revenue from External Customers by Geographic Areas (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disaggregation of Revenue [Line Items]      
Revenues $ 1,622,796 $ 1,368,225 $ 1,008,696
United States and Canada (North America)      
Disaggregation of Revenue [Line Items]      
Revenues 1,557,846 1,309,438 972,220
Rest of world      
Disaggregation of Revenue [Line Items]      
Revenues 64,950 58,787 36,476
Subscription      
Disaggregation of Revenue [Line Items]      
Revenues 1,500,101 1,249,579 905,886
Subscription | United States and Canada (North America)      
Disaggregation of Revenue [Line Items]      
Revenues 1,466,242 1,217,905 882,679
Subscription | Rest of world      
Disaggregation of Revenue [Line Items]      
Revenues 33,859 31,674 23,207
Advertising      
Disaggregation of Revenue [Line Items]      
Revenues 115,200 115,370 101,739
Advertising | United States and Canada (North America)      
Disaggregation of Revenue [Line Items]      
Revenues 114,023 114,247 100,605
Advertising | Rest of world      
Disaggregation of Revenue [Line Items]      
Revenues $ 1,177 $ 1,123 $ 1,134
v3.25.0.1
Revenue from Contracts with Customers - Narrative (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]    
Contract liabilities $ 98.4 $ 90.2
v3.25.0.1
Property and equipment, net - Schedule of Property and Equipment, Net (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross $ 12,428 $ 9,783
Less: Accumulated depreciation (6,348) (4,948)
Total property and equipment, net $ 6,080 4,835
Furniture and fixtures    
Property, Plant and Equipment [Line Items]    
Useful Lives (Years) 5 years  
Property, plant and equipment, gross $ 693 532
Computer equipment    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross $ 6,431 3,949
Computer equipment | Minimum    
Property, Plant and Equipment [Line Items]    
Useful Lives (Years) 3 years  
Computer equipment | Maximum    
Property, Plant and Equipment [Line Items]    
Useful Lives (Years) 5 years  
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross $ 5,304 $ 5,302
v3.25.0.1
Property and equipment, net - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Property, Plant and Equipment [Abstract]      
Depreciation $ 1.4 $ 1.5 $ 1.2
v3.25.0.1
Intangible Assets and Goodwill - Schedule of Intangible Assets (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]    
Intangible Assets $ 272,881 $ 293,494
Accumulated Amortization (139,178) (135,046)
Net Balance $ 133,703 $ 158,448
Minimum    
Finite-Lived Intangible Assets [Line Items]    
Useful Lives (Years) 9 years  
Maximum    
Finite-Lived Intangible Assets [Line Items]    
Useful Lives (Years) 2 years  
Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Useful Lives (Years) 2 years 2 years
Weighted Average Remaining Life (Years)   0 years
Intangible Assets   $ 32,729
Accumulated Amortization   (32,729)
Net Balance   $ 0
Trade names    
Finite-Lived Intangible Assets [Line Items]    
Weighted Average Remaining Life (Years) 4 years 2 months 12 days 5 years 2 months 12 days
Intangible Assets $ 38,822 $ 38,859
Accumulated Amortization (20,784) (16,578)
Net Balance $ 18,038 $ 22,281
Trade names | Minimum    
Finite-Lived Intangible Assets [Line Items]    
Useful Lives (Years) 2 years 2 years
Trade names | Maximum    
Finite-Lived Intangible Assets [Line Items]    
Useful Lives (Years) 9 years 9 years
Capitalized internal use software    
Finite-Lived Intangible Assets [Line Items]    
Useful Lives (Years) 3 years 3 years
Weighted Average Remaining Life (Years) 1 year 9 months 18 days 2 years 3 months 18 days
Intangible Assets $ 37,238 $ 25,770
Accumulated Amortization (16,087) (5,893)
Net Balance $ 21,151 $ 19,877
Software and technology    
Finite-Lived Intangible Assets [Line Items]    
Weighted Average Remaining Life (Years) 4 years 1 month 6 days 5 years 1 month 6 days
Intangible Assets $ 196,821 $ 196,136
Accumulated Amortization (102,307) (79,846)
Net Balance $ 94,514 $ 116,290
Software and technology | Minimum    
Finite-Lived Intangible Assets [Line Items]    
Useful Lives (Years) 3 years 3 years
Software and technology | Maximum    
Finite-Lived Intangible Assets [Line Items]    
Useful Lives (Years) 9 years 9 years
v3.25.0.1
Intangible Assets and Goodwill - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]        
Amortization of intangible assets $ 37.1 $ 35.0 $ 35.5  
Impairment of intangible assets (excluding goodwill)       $ 100.3
Goodwill, impaired, accumulated impairment loss $ 148.1 $ 148.1    
Maximum        
Finite-Lived Intangible Assets [Line Items]        
Useful Lives (Years) 2 years      
Minimum        
Finite-Lived Intangible Assets [Line Items]        
Useful Lives (Years) 9 years      
v3.25.0.1
Intangible Assets and Goodwill - Schedule of Intangible Assets Amortization Expense (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
2025 $ 37,715
2026 35,330
2027 29,033
2028 25,305
2029 6,320
Total $ 133,703
v3.25.0.1
Intangible Assets and Goodwill - Schedule of Goodwill (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Roll Forward]    
Beginning balance $ 622,818 $ 618,506
Foreign currency translation adjustment (7,419) 4,312
Ending balance $ 615,399 $ 622,818
v3.25.0.1
Accounts Payable, Accrued Expenses and Other Long-Term Liabilities - Schedule of Accounts Payable and Accrued Expenses (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Payables and Accruals [Abstract]    
Affiliate fees $ 283,953 $ 266,089
Broadcasting and transmission 10,921 13,097
Selling and marketing 22,580 33,925
Accrued compensation 11,726 13,218
Legal and professional fees 14,500 3,672
Sales tax 34,067 42,590
Guaranteed liabilities of Fubo Gaming 12,488 0
Accrued interest 6,772 4,671
Subscriber related 1,568 1,624
Shares settled liability 8,424 5,131
Other 12,802 11,970
Total $ 419,801 $ 395,987
v3.25.0.1
Income Taxes - Schedule of loss before income taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Contingency [Line Items]      
Loss before income taxes $ 177,119 $ 293,981 $ 426,711
United States      
Income Tax Contingency [Line Items]      
Loss before income taxes 178,697 283,988 399,941
International      
Income Tax Contingency [Line Items]      
Loss before income taxes $ (1,578) $ 9,993 $ 26,770
v3.25.0.1
Income Taxes - Schedule of (Provision) Benefit of Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
U.S. Federal      
Current $ 0 $ 0 $ 0
Deferred 0 620 1,351
State and local      
Current (314) (116) 0
Deferred 0 145 315
Foreign      
Current (127) 0 0
Deferred (218) 230 0
Income tax (provision) benefit $ (659) $ 879 $ 1,666
v3.25.0.1
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Federal rate 21.00% 21.00% 21.00%
State income taxes, net of federal benefit 3.48% 2.57% 0.07%
Other nontaxable of nondeductible items (3.46%) (0.05%) 0.00%
Stock-based compensation 0.44% (1.33%) (0.67%)
Effect of cross-border tax laws (0.54%) 0.00% 0.00%
Change in fair value of derivative, warrant liability, and gain on extinguishment of convertible notes 0.00% 0.00% (0.08%)
Amortization of debt discount 0.00% 0.00% (0.67%)
Foreign rate differential (0.04%) 0.14% 0.34%
Effect of changes in tax laws or rates enacted in the current period (0.32%) (0.83%) 0.00%
Change in valuation allowance (20.13%) (21.73%) (18.94%)
Other (0.82%) 0.53% (0.66%)
Income tax (provision) benefit (0.39%) 0.30% 0.39%
v3.25.0.1
Income Taxes - Schedule of Deferred Tax Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets:    
Net operating losses $ 384,838 $ 366,837
Accruals and deferrals 13,461 15,115
Stock-based compensation 16,984 16,235
Interest expense limitation 18,352 14,860
Leasing assets 9,023 9,375
Deferred financing fees 7,582 0
Other 39 30
Total deferred tax assets 450,279 422,452
Less: Valuation allowance (420,749) (385,461)
Net deferred tax assets 29,530 36,991
Deferred tax liabilities:    
Intangible assets 21,875 29,073
Property and equipment 7,643 7,688
Deferred state income tax 0 0
Total deferred tax liabilities 29,518 36,761
Net deferred tax assets $ 12 $ 230
v3.25.0.1
Income Taxes - Narrative (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating Loss Carryforwards [Line Items]    
Change in valuation allowance $ 35,300,000  
Liability for uncertainty in income taxes, current 0 $ 0
Income tax examination, penalties and interest expense 0 $ 0
Expire before utilization    
Operating Loss Carryforwards [Line Items]    
Operating loss carryforwards 1,100,000  
Federal    
Operating Loss Carryforwards [Line Items]    
Operating loss carryforwards 1,458,400,000  
Federal | Expire In 2033    
Operating Loss Carryforwards [Line Items]    
Operating loss carryforwards 88,000,000.0  
Federal | Indefinitely    
Operating Loss Carryforwards [Line Items]    
Operating loss carryforwards 1,370,400,000  
State and Local Jurisdiction    
Operating Loss Carryforwards [Line Items]    
Operating loss carryforwards 1,091,200,000  
State and Local Jurisdiction | Expire In 2033    
Operating Loss Carryforwards [Line Items]    
Operating loss carryforwards 887,300,000  
State and Local Jurisdiction | Indefinitely    
Operating Loss Carryforwards [Line Items]    
Operating loss carryforwards 203,900,000  
Foreign Tax Jurisdiction    
Operating Loss Carryforwards [Line Items]    
Operating loss carryforwards $ 164,100,000  
v3.25.0.1
Notes Payable, Long-Term Borrowing, and Convertible Notes - Schedule of Notes Payable and Long-Term Borrowings (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Feb. 02, 2021
Short-Term Debt [Line Items]      
Principal Balance $ 326,043 $ 401,842  
Capitalized Interest 4,294 3,593  
Debt (Discount) Premium 10,112 (5,752)  
Long-term debt, gross $ 340,449 $ 399,683  
2026 Convertible Notes      
Short-Term Debt [Line Items]      
Stated Interest Rate 3.25% 3.25% 3.25%
Principal Balance $ 144,765 $ 397,500  
Capitalized Interest 0 0  
Debt (Discount) Premium (1,132) (5,752)  
Long-term debt, gross $ 143,633 $ 391,748  
2029 Convertible Notes      
Short-Term Debt [Line Items]      
Stated Interest Rate 7.50%    
Principal Balance $ 177,506    
Capitalized Interest 0    
Debt (Discount) Premium 11,244    
Long-term debt, gross $ 188,750    
Note payable      
Short-Term Debt [Line Items]      
Stated Interest Rate 10.00% 10.00%  
Principal Balance $ 2,700 $ 2,700  
Capitalized Interest 4,284 3,585  
Debt (Discount) Premium 0 0  
Long-term debt, gross $ 6,984 $ 6,285  
BPi France      
Short-Term Debt [Line Items]      
Stated Interest Rate 2.25% 2.25%  
Principal Balance $ 1,042 $ 1,612  
Capitalized Interest 0 0  
Debt (Discount) Premium 0 0  
Long-term debt, gross $ 1,042 $ 1,612  
Other      
Short-Term Debt [Line Items]      
Stated Interest Rate 4.00% 4.00%  
Principal Balance $ 30 $ 30  
Capitalized Interest 10 8  
Debt (Discount) Premium 0 0  
Long-term debt, gross $ 40 $ 38  
v3.25.0.1
Notes Payable, Long-Term Borrowing, and Convertible Notes - Narrative (Details)
$ / shares in Units, $ in Thousands
 12 Months Ended
Jan. 02, 2025
d
Jan. 02, 2024
USD ($)
d
$ / shares
Feb. 02, 2021
USD ($)
d
$ / shares
Dec. 31, 2024
USD ($)
$ / shares
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Oct. 01, 2018
USD ($)
Short-Term Debt [Line Items]              
Repayments of convertible debt       $ 26,557 $ 3,313 $ 0  
Gain on extinguishment of debt       29,513 1,607 0  
Amortization of debt (premium) discount, net       $ (1,224) 2,574 2,476  
Chief executive officer              
Short-Term Debt [Line Items]              
Debt interest rate       4.00%      
Debt instrument, periodic payment       $ 40 38    
Notes payable       30      
Evolution AI Corporation EAI | Note payable              
Short-Term Debt [Line Items]              
Debt interest rate             10.00%
Principal Balance             $ 2,700
Interest payable       3,900      
Evolution AI Corporation EAI | Interest and Penalties              
Short-Term Debt [Line Items]              
Debt instrument, periodic payment       7,000 6,300    
2026 Convertible Notes              
Short-Term Debt [Line Items]              
Convertible notes payable     $ 402,500 $ 144,800 $ 397,500    
Debt interest rate     3.25% 3.25% 3.25%    
Proceeds from convertible note, net of issuance costs     $ 389,400        
Debt and equity issuance costs     $ 13,100        
Debt instrument, convertible, conversion price (in usd per share) | $ / shares     $ 57.78        
Threshold trading days | d     20        
Threshold consecutive trading days | d     30        
Threshold percentage of stock price trigger     130.00%        
Redemption price, percentage     100.00%        
Debt instrument, repurchased face amount         $ 5,000    
Gain on extinguishment of debt         1,600    
Repayments of debt         3,300    
Interest expense       $ 6,000 13,100 13,400  
Amortization of debt (premium) discount, net       1,100 2,600 $ 2,500  
2026 Convertible Notes | Significant other observable inputs (Level 2)              
Short-Term Debt [Line Items]              
Convertible debt       111,800 $ 288,200    
2026 Convertible Notes | Convertible Debt              
Short-Term Debt [Line Items]              
Convertible notes payable   $ 205,800          
Debt instrument, repurchased face amount       46,900      
Long-term debt       46,400      
Repayments of convertible debt       26,600      
Gain on extinguishment of debt       $ 19,800      
2026 Convertible Notes | Debt Instrument, Redemption, Period One              
Short-Term Debt [Line Items]              
Threshold trading days | d     20        
Threshold consecutive trading days | d     30        
Threshold percentage of stock price trigger     130.00%        
2026 Convertible Notes | Debt Instrument, Redemption, Period Two              
Short-Term Debt [Line Items]              
Threshold trading days | d     5        
Threshold consecutive trading days | d     5        
Debt instrument, convertible, maximum percentage of product of sales price and conversion rate     98.00%        
2029 Convertible Notes              
Short-Term Debt [Line Items]              
Debt interest rate       7.50%      
Debt instrument, convertible, conversion price (in usd per share) | $ / shares   $ 3.84          
Gain on extinguishment of debt       $ 9,600      
Amortization of debt (premium) discount, net       2,300      
Unamortized financing costs   $ 4,200          
Interest expense       8,200      
2029 Convertible Notes | Significant other observable inputs (Level 2)              
Short-Term Debt [Line Items]              
Convertible notes payable       $ 161,700      
2029 Convertible Notes | Convertible Debt              
Short-Term Debt [Line Items]              
Convertible notes payable   $ 177,500          
Debt instrument, convertible, conversion price (in usd per share) | $ / shares       $ 0.2606474      
Threshold consecutive trading days | d   20          
Threshold percentage of stock price trigger   130.00%          
Debt instrument, convertible, threshold consecutive trading day immediately after measurement period   5 days          
Debt instrument, convertible, threshold percentage of notes trading price trigger   98.00%          
2029 Convertible Notes | Convertible Debt | Subsequent Event              
Short-Term Debt [Line Items]              
Threshold trading days | d 30            
Threshold consecutive trading days | d 20            
Threshold percentage of stock price trigger 200.00%            
Debt instrument, convertible, threshold consecutive trading day before notice 10 days            
2029 Convertible Notes | Convertible Debt | Base Rate              
Short-Term Debt [Line Items]              
Debt interest rate   7.50%          
2029 Convertible Notes | Convertible Debt | Paid in Kind              
Short-Term Debt [Line Items]              
Debt interest rate   10.00%          
2029 Convertible Notes | Debt Instrument, Redemption, Period One | Convertible Debt              
Short-Term Debt [Line Items]              
Threshold consecutive trading days | d     30        
BPi France              
Short-Term Debt [Line Items]              
Debt interest rate       2.25% 2.25%    
BPi France | Molotov Acquisition              
Short-Term Debt [Line Items]              
Repayments of debt       $ 400 $ 400    
Business acquisition, notes assumed       2,400      
Principal balance       $ 1,000 $ 1,600    
BPi France | Molotov Acquisition | Maximum              
Short-Term Debt [Line Items]              
Debt interest rate       2.25%      
v3.25.0.1
Segments and Geographic Information - Narrative (Details)
 12 Months Ended
Dec. 31, 2024
segment
Segment Reporting [Abstract]  
Number of operating segments 1
v3.25.0.1
Segments and Geographic Information - Financial Performance by Geographical Location (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Revenues $ 1,622,796 $ 1,368,225 $ 1,008,696
United States      
Segment Reporting Information [Line Items]      
Total long-lived assets 165,481 190,113  
Revenues 1,557,846 1,309,438 972,220
Rest of world      
Segment Reporting Information [Line Items]      
Total long-lived assets 6,139 8,995  
Revenues $ 64,950 $ 58,787 $ 36,476
v3.25.0.1
Segments - Reconciliation to Net Loss From Continuing Operations (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Revenues $ 1,622,796 $ 1,368,225 $ 1,008,696
Significant expenses:      
Sales and marketing 202,489 207,045 183,615
Technology and development 80,009 67,675 69,264
General and administrative 75,073 64,282 81,151
Net loss from continuing operations (177,778) (293,102) (425,045)
Streaming Business      
Segment Reporting Information [Line Items]      
Revenues 1,622,796 1,368,225 1,008,696
Gross profit (loss) 203,911 86,148 (41,096)
Significant expenses:      
Sales and marketing 185,148 184,159 161,417
Technology and development 67,801 55,651 59,266
General and administrative 62,436 48,188 61,037
Other segment expenses 66,304 91,252 102,229
Net loss from continuing operations $ (177,778) $ (293,102) $ (425,045)
v3.25.0.1
Fair Value Measurements - Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Financial assets at fair value:    
Total financial assets at fair value $ 111,130 $ 205,074
Money market securities    
Financial assets at fair value:    
Money market securities 111,130 205,074
Quoted prices in active markets (Level 1)    
Financial assets at fair value:    
Total financial assets at fair value 111,130 205,074
Quoted prices in active markets (Level 1) | Money market securities    
Financial assets at fair value:    
Money market securities 111,130 205,074
Significant other observable inputs (Level 2)    
Financial assets at fair value:    
Total financial assets at fair value 0 0
Significant other observable inputs (Level 2) | Money market securities    
Financial assets at fair value:    
Money market securities 0 0
Significant unobservable inputs (Level 3)    
Financial assets at fair value:    
Total financial assets at fair value 0 0
Significant unobservable inputs (Level 3) | Money market securities    
Financial assets at fair value:    
Money market securities $ 0 $ 0
v3.25.0.1
Shareholders’ Equity - Narrative (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Aug. 04, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Jun. 18, 2024
Jun. 15, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Common stock, shares authorized (in shares)   1,000,000,000 1,000,000,000   1,000,000,000.0 800,000,000.0
Issuance of common stock for cash   $ 43,310 $ 116,889 $ 292,155    
2022 ATM Offering            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Sale of stock, consideration received on transaction   43,300        
Payment for stock issuance cost   $ 1,000        
Sale of stock, number of shares issued in transaction (in shares)   33,218,851        
Sale of stock, price per share (in dollars per share)   $ 1.33 $ 1.46      
Sale of stock, remaining shares available for sale, amount   $ 112,000        
Sales Agreement            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Proceeds from issuance of common stock   $ 43,300        
Issuance of common stock for cash (in shares)   33,218,851        
Evercore Group LLC Needham and Company LLC and Oppenheimer And Co Inc | Sales Agreement            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Issuance of common stock for cash $ 350,000          
Commission rate percentage 3.00%          
Proceeds from issuance of common stock     $ 116,900      
Payment for stock issuance cost     $ 2,800      
Issuance of common stock for cash (in shares)     81,694,729      
v3.25.0.1
Stock-Based Compensation - Schedule of Recognized Stock-Based Compensation Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based payment arrangement, expense $ 42,510 $ 51,215 $ 52,454
Subscriber related      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based payment arrangement, expense 324 211 144
Sales and marketing      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based payment arrangement, expense 17,341 22,886 22,198
Technology and development      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based payment arrangement, expense 12,208 12,024 9,998
General and administrative      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based payment arrangement, expense $ 12,637 $ 16,094 $ 20,114
v3.25.0.1
Stock-Based Compensation - Equity Incentive Plans - Narrative (Details) - shares
 12 Months Ended
Jun. 17, 2024
Dec. 31, 2024
2020 Equity Incentive Plan    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Share-based compensation arrangement by share-based payment award, number of additional shares authorized (in shares) 20,000,000  
Stock issued during period, employee stock purchase plans (in shares)   10,772,874
2022 Inducement Plan    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Share-based compensation arrangement by share-based payment award, number of shares available for grant (in shares)   0
2023 Inducement Plan    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Share-based compensation arrangement by share-based payment award, number of shares available for grant (in shares)   0
2024 Inducement Plan    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Share-based compensation arrangement by share-based payment award, number of shares available for grant (in shares)   2,892,219
v3.25.0.1
Stock-Based Compensation - Summary of Stock Option Activity (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Number of Shares    
Outstanding at beginning of period (in shares) 10,475,607  
Exercised (in shares) (4,042)  
Forfeited or expired (in shares) (275,333)  
Outstanding at end of period (in shares) 10,196,232 10,475,607
Options vested and exercisable (in shares) 9,610,252  
Weighted Average Exercise Price    
Weighted average exercise price, beginning balance (in dollars per share) $ 6.31  
Weighted average exercise price, exercised (in dollars per share) 0.87  
Weighted average exercise price (in dollars per share) 12.99  
Weighted average exercise price, ending balance (in dollars per share) 6.13 $ 6.31
Weighted average exercise price options vested and exercisable, ending balance (in dollars per share) $ 6.39  
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]    
Total Intrinsic Value $ 1,036 $ 6,534
Options vested and exercisable, intrinsic value $ 1,036  
Weighted average remaining contractual life (in years) 4 years 4 months 24 days 5 years 3 months 18 days
Weighted average remaining contractual life, options vested and exercisable (in years) 4 years 3 months 18 days  
Market and Service Condition Based Options    
Number of Shares    
Outstanding at beginning of period (in shares) 4,453,297  
Outstanding at end of period (in shares) 4,453,297 4,453,297
Options vested and exercisable (in shares) 3,994,964  
Weighted Average Exercise Price    
Weighted average exercise price, beginning balance (in dollars per share) $ 12.75  
Weighted average exercise price, ending balance (in dollars per share) 12.75 $ 12.75
Weighted average exercise price options vested and exercisable, ending balance (in dollars per share) $ 11.96  
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]    
Total Intrinsic Value $ 0 $ 0
Options vested and exercisable, intrinsic value $ 0  
Weighted average remaining contractual life (in years) 2 years 8 months 12 days 3 years 8 months 12 days
Weighted average remaining contractual life, options vested and exercisable (in years) 2 years 7 months 6 days  
v3.25.0.1
Stock-Based Compensation - Stock Option - Narrative (Details) - USD ($)
 12 Months Ended
Oct. 08, 2020
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Apr. 20, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based compensation arrangement by share-based payment award, options, grants in period, gross (in shares)   0      
Share-based payment arrangement, nonvested award, option, cost not yet recognized, amount   $ 400,000      
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition   2 years      
Share-based payment arrangement, expense   $ 42,510,000 $ 51,215,000 $ 52,454,000  
Performance period   5 years      
Award vesting period   4 years      
Market and Service Condition Based Options          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based compensation arrangement by share-based payment award, options, grants in period, gross (in shares)   0 0    
Share-based payment arrangement, nonvested award, option, cost not yet recognized, amount   $ 0      
Share-based payment arrangement, expense   $ 900,000 $ 3,300,000 $ 7,800,000  
Performance shares          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based compensation arrangement by share-based payment award, number of shares authorized (in shares) 4,100,000        
Grants in period, weighted average grant date fair value (in usd per share) $ 10.00        
Options, nonvested, number of shares (in shares)         3,280,000
Share-based compensation arrangement by share-based payment award, options, vested, number of shares (in shares)   820,000      
Share-based compensation arrangement by share-based payment award, options, vested in period, fair value   $ 1,200,000      
Restricted Stock Units (RSUs)          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based payment arrangement, nonvested award, option, cost not yet recognized, amount   $ 60,200,000      
Granted (in shares)   15,812,986 13,912,089    
Award vesting period   4 years 4 years    
Equity instruments other than options, vested in period, fair value   $ 24,400,000 $ 44,000,000.0    
Aggregate intrinsic value   $ 33,700,000      
Weighted average remaining contractual life (in years)   2 years 9 months 18 days      
Restricted Stock Units (RSUs) | Director          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Award vesting period   1 year      
Performance Based Restricted Stock Units          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based payment arrangement, nonvested award, option, cost not yet recognized, amount   $ 5,800,000      
Share-based payment arrangement, expense   4,400,000 8,900,000    
Share-based compensation arrangement by share-based payment award, options, vested in period, fair value   $ 1,800,000 $ 15,800,000    
Granted (in shares)   1,185,819 2,035,834    
v3.25.0.1
Stock-Based Compensation - Schedule of Stock Options Assumptions (Details) - Share-based Payment Arrangement, Option
 12 Months Ended
Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Dividend yield 0.00%
Expected price volatility 49.80%
Risk free interest rate 3.90%
Expected term (years) 6 years
v3.25.0.1
Stock-Based Compensation - Schedule of Restricted Stock Unit Activity (Details) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Restricted Stock Units (RSUs)    
Number of Shares    
Unvested at beginning of period (in shares) 20,313,775  
Granted (in shares) (15,812,986) (13,912,089)
Vested (in shares) (7,095,430)  
Forfeited (in shares) (2,321,974)  
Unvested, ending balance (in shares) 26,709,357 20,313,775
Weighted Average Grant-Date Fair Value    
Unvested at beginning of period (in usd per share) $ 3.85  
Granted (in usd per share) 1.55  
Vested (in usd per share) 3.65  
Forfeited or expired (in usd per share) 4.64  
Unvested at end of period (in usd per share) $ 2.47 $ 3.85
Performance Based Restricted Stock Units    
Number of Shares    
Unvested at beginning of period (in shares) 2,035,834  
Granted (in shares) (1,185,819) (2,035,834)
Forfeited (in shares) (189,825)  
Unvested, ending balance (in shares) 3,031,828 2,035,834
Weighted Average Grant-Date Fair Value    
Unvested at beginning of period (in usd per share) $ 7.75  
Granted (in usd per share) 1.55  
Forfeited or expired (in usd per share) 3.26  
Unvested at end of period (in usd per share) $ 5.61 $ 7.75
v3.25.0.1
Stock-Based Compensation - Framework Agreement with MEP FTV - Narrative (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
tranche
shares
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based payment arrangement, expense $ 42,510 $ 51,215 $ 52,454
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition 2 years    
Service-Based Restricted Stock Awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based payment arrangement, expense $ 23,000    
Granted (in shares) | shares 1,600,000    
Service-Based Restricted Stock Awards | Share-based Payment Arrangement, Period One      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based payment arrangement, expense $ 7,000    
Service-Based Restricted Stock Awards | Share-based Payment Arrangement, Period Two      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based payment arrangement, expense 8,000    
Service-Based Restricted Stock Awards | Share-based Payment Arrangement, Period Three      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based payment arrangement, expense $ 8,000    
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition 3 years    
Performance-Based Restricted Stock Awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Granted (in shares) | shares 400,000    
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition 2 years    
Share-based payment arrangement, nonvested award, excluding option, cost not yet recognized, amount $ 5,700    
Performance-Based Restricted Stock Awards | Share-based Payment Arrangement, Period One      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based payment arrangement, expense 1,700    
Performance-Based Restricted Stock Awards | Share-based Payment Arrangement, Period Two      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based payment arrangement, expense 2,000    
Performance-Based Restricted Stock Awards | Share-based Payment Arrangement, Period Three      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based payment arrangement, expense $ 2,000    
Framework Agreement - Projects      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock issued during period, shares, percentage 0.80    
Framework Agreement - Network      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of tranches | tranche 3    
Stock issued during period, shares, percentage 0.20    
Framework Agreement      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based payment arrangement, expense $ 3,300 6,500  
Framework Agreement | Accrued Expenses and Other Current Liabilities      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based payment arrangement, expense $ 8,400 $ 5,100  
v3.25.0.1
Stock-Based Compensation - Warrants - Narrative (Details) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Aug. 12, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Class of warrant or right, number of securities called by warrants or rights (in shares)     166,667
Exercise price (in dollars per share)     $ 15.00
Class of warrant or right, trading days for closing share price (in dollars per share) 30 days    
Class of warrant or right, weighted average closing share price (in dollars per share) $ 30.00    
Warrants and rights outstanding, term (in years) 1 year 8 months 12 days    
Warrant      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Class of warrant or right, outstanding (in shares)     400,000
Granted (in shares) 0 0  
v3.25.0.1
Shareholders’ Equity - Schedule of Warrants Activity (Details) - Warrant - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Number of Warrants    
Number of warrants outstanding, beginning balance (in shares) 166,670  
Number of warrants outstanding, ending balance (in shares) 166,670 166,670
Weighted Average Exercise Price    
Weighted average exercise price, beginning balance (in dollars per share) $ 17.40  
Weighted average exercise price, ending balance (in dollars per share) $ 17.40 $ 17.40
Total Intrinsic Value $ 0 $ 0
Weighted average remaining contractual life (in years) 7 years 7 months 6 days 8 years 7 months 6 days
v3.25.0.1
Commitments and Contingencies - Schedule of Operating Leases (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating leases      
Operating lease cost $ 6,974 $ 6,513 $ 5,711
Other lease cost 945 256 239
Operating lease expense 7,919 6,769 5,950
Short-term lease rent expense 0 132 167
Total rent expense $ 7,919 $ 6,901 $ 6,117
v3.25.0.1
Commitments and Contingencies - Schedule of Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]      
Operating cash flows from operating leases $ 7,994 $ 5,939 $ 1,421
Right of use assets exchanged for operating lease liabilities $ 0 $ 3,062 $ 4,312
Weighted average remaining lease term - operating leases 9 years 1 month 6 days 9 years 10 months 24 days 11 years 3 months 18 days
Weighted average remaining discount rate - operating leases 7.70% 7.80% 7.40%
v3.25.0.1
Commitments and Contingencies - Schedule of Future Minimum Payments for Operating Leases (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]  
Year Ended December 31, 2025 $ 7,751
Year Ended December 31, 2026 5,991
Year Ended December 31, 2027 4,831
Year Ended December 31, 2028 4,403
Year Ended December 31, 2029 4,403
Thereafter 27,334
Total 54,713
Less present value discount (16,738)
Operating lease liabilities 37,975
Annual Sponsorship Agreements  
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]  
Year Ended December 31, 2025 3,275
Year Ended December 31, 2026 3,325
Year Ended December 31, 2027 3,425
Year Ended December 31, 2028 3,525
Year Ended December 31, 2029 3,575
Thereafter 9,150
Total 26,275
Sports Rights Agreements  
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]  
Year Ended December 31, 2025 39,128
Year Ended December 31, 2026 32,018
Year Ended December 31, 2027 23,558
Year Ended December 31, 2028 4,583
Total $ 99,287
v3.25.0.1
Commitments and Contingencies - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Loss Contingencies [Line Items]      
Operating lease, impairment loss     $ 2.3
Prepaid Expenses and Other Current Assets      
Loss Contingencies [Line Items]      
Prepaid contracts $ 36.9 $ 27.4  
v3.25.0.1
Subsequent Events (Details) - Subsequent Event - USD ($)
$ in Millions
 1 Months Ended
Jan. 06, 2025
Jan. 31, 2025
Subsequent Event [Line Items]    
Senior unsecured term loan commitment indebtedness $ 145.0  
Settled Litigation    
Subsequent Event [Line Items]    
Litigation settlement payment 220.0 $ 220.0
Hulu, LLC    
Subsequent Event [Line Items]    
Termination fee 130.0  
Hulu, LLC    
Subsequent Event [Line Items]    
Termination fee $ 50.0  
Hulu, LLC | Newco    
Subsequent Event [Line Items]    
Business acquisition, percentage of voting interests acquired 70.00%  
Hulu, LLC    
Subsequent Event [Line Items]    
Equity method investment, ownership percentage 70.00%  
Newco    
Subsequent Event [Line Items]    
Equity method investment, ownership percentage 30.00%