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Intangible Assets and Goodwill
 3 Months Ended
Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill

Note 7 - Intangible Assets and Goodwill

 

Intangible Assets

 

The table below summarizes the Company’s intangible assets at March 31, 2021 and December 31, 2020 (in thousands):

 

                March 31, 2021  
    Useful Lives
(Years)		     Weighted Average Remaining Life (Years)     Intangible Assets     Accumulated Amortization     Net Balance  
Customer relationships     2       1.0     $ 23,678       (11,839 )   $ 11,839  
fuboTV tradename     9       8.0       38,197       (4,244 )     33,953  
Software and technology     9       8.0       181,782       (20,198 )     161,584  
Total                   $ 243,657     $ (36,281 )   $ 207,376  

 

                December 31, 2020  
    Useful Lives
(Years)		     Weighted Average Remaining Life (Years)     Intangible Assets     Accumulated Amortization     Net Balance  
Customer relationships     2       1.5       23,678       (8,880 )     14,798  
fuboTV tradename     9       8.5       38,197       (3,183 )     35,014  
Software and technology     9       8.5       181,782       (15,145 )     166,637  
Total                   $ 243,657     $ (27,208 )   $ 216,449  

 

The intangible assets are being amortized over their respective original useful lives, which range from two to nine years. The Company recorded amortization expense related to the above intangible assets of approximately $9.1 million and $5.2 million for the three months ended March 31, 2021 and 2020, respectively.

 

The estimated future amortization expense associated with intangible assets is as follows (in thousands):

 

    Future Amortization  
2021   $ 27,218  
2022     27,412  
2023     24,452  
2024     24,437  
2025     24,437  
Thereafter     79,420  
Total   $ 207,376  

Goodwill

 

The following table is a summary of the changes to goodwill for the three months ended March 31, 2021 (in thousands):

 

Balance - December 31, 2020   $ 478,406  
Vigtory acquisition     10,683  
Balance - March 31, 2021   $ 489,089  

 

As of December 31, 2020, goodwill includes an accumulated impairment charge of $148.1 million for the Facebank reporting unit which represented all of the goodwill of that reporting unit.