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Intangible Assets and Goodwill | 12 Months Ended
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Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets and Goodwill | Note 8 - Intangible Assets and Goodwill Intangible Assets During the year ended December 31, 2021, the Company capitalized $19.1 million for intangible assets, consisting of $15.0 million for gaming licenses pursuant to market access agreements entered into in order to conduct sports wagering operations in the states of Arizona and Iowa, and $4.1 million for software and technology. Included in the $15.0 million capitalized for gaming licenses, the Company paid $4.4 million for upfront and license fees, and recorded $10.6 million for future minimum royalty payments, with the corresponding liability recorded to accrued expenses and other current liabilities and other long-term liabilities on the accompanying consolidated balance sheet. As of December 31, 2021, the Company paid $0.1 million of royalty payments (See Note 16). Amortization of gaming licenses and market access agreements commence upon completion of the required regulatory approvals and launch of operations in each respective state. The table below summarizes the Company’s intangible assets at December 31, 2021 and 2020 (in thousands): Schedule of Intangible Assets
|  | Useful |  |  | Weighted Average Remaining |  |  | December 31, 2021 |
|  | Lives (Years) |  |  | Life (Years) |  |  | Intangible Assets |  |  | Accumulated Amortization |  |  | Net Balance |
Customer relationships |  | 2 |  |  | 2.2 |  |  | $ | 32,965 |  |  | $ | (21,105 | ) |  | $ | 11,860 |
Tradenames |  | 2-9 |  |  | 7.2 |  |  |  | 38,876 |  |  |  | (7,455 | ) |  |  | 31,421 |
Software and technology |  | 3-9 |  |  | 8.7 |  |  |  | 195,852 |  |  |  | (35,572 | ) |  |  | 160,280 |
Gaming licenses and market access fees |  | 2-5 |  |  | 4.8 |  |  |  | 14,951 |  |  |  | (326 | ) |  |  | 14,625 |
Total |  |  |  |  |  |  |  | $ | 282,644 |  |  | $ | (64,458 | ) |  | $ | 218,186 |
|  |  |  |  |  | Weighted Average |  |  | December 31, 2020 |
|  | Useful Lives (Years) |  |  |  | Remaining Life (Years) |  |  | Intangible Assets |  |  | Intangible Asset Impairment |  |  | Accumulated Amortization |  |  | Net Balance |
Human animation technologies |  | 5 |  |  |  | - |  |  | $ | 123,436 |  |  | $ | (85,281 | ) |  | $ | (38,155 | ) |  | $ | - |
Trademark and trade names |  | 5 |  |  |  | - |  |  |  | 7,746 |  |  |  | (5,294 | ) |  |  | (2,452 | ) |  |  | - |
Animation and visual effects technologies |  | 4 |  |  |  | - |  |  |  | 6,016 |  |  |  | (4,024 | ) |  |  | (1,992 | ) |  |  | - |
Digital asset library |  | 4 |  |  |  | - |  |  |  | 7,536 |  |  |  | (5,131 | ) |  |  | (2,405 | ) |  |  | - |
Intellectual property |  | 7 |  |  |  | - |  |  |  | 828 |  |  |  | (574 | ) |  |  | (254 | ) |  |  | - |
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 |  |  |  |  |  |  |  |  | $ | 389,219 |  |  | $ | (100,304 | ) |  | $ | (72,466 | ) |  | $ | 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 of $36.9 million, $43.6 million, and $20.8 million for the years ended December 31, 2021, 2020 and 2019 including amortization related to impaired intangible assets as described below. The Company performed a valuation of its intangible assets of the Facebank reporting unit as of September 30, 2020. The Company determined that the carrying value of the intangible assets exceeded their fair value and recorded an impairment charge of $100.3 million during the year ended December 31, 2020. During the year ended December 31, 2019 the Company determined, that because of the continuing losses and poor financial condition of Nexway AG, the intangible assets acquired in the acquisition of Nexway AG were required to be impaired in full and recorded an impairment charge of $8.6 million. The estimated future amortization expense associated with intangible assets (excluding gaming licenses and market access fees) is as follows (in thousands): Schedule of Intangible Assets Amortization Expense
|  | Future Amortization |
2022 |  |  | 38,599 |
2023 |  |  | 35,129 |
2024 |  |  | 30,184 |
2025 |  |  | 28,907 |
2026 |  |  | 28,675 |
Thereafter |  |  | 56,692 |
Total |  | $ | 218,186 |
Prepaid Market Access Agreements During the year ended December 31, 2021, the Company paid $39.8 million for gaming licenses pursuant to market access agreements which had not yet commenced operations as of December 31, 2021. The $39.8 million is included in other non-current assets on the accompanying consolidated balance sheet as of December 31, 2021. Goodwill The following table is a summary of the changes to goodwill for the years ended December 31, 2021 and 2020 (in thousands): Schedule of Goodwill
|  | December 31, |
|  | 2021 |  |  | 2020 |
Beginning balance |  | $ | 478,406 |  |  | $ | 227,763 |
Deconsolidation of Nexway |  |  | - |  |  |  | (51,168 | )
Acquisition of fuboTV |  |  | - |  |  |  | 478,406 |
Less: Sale of Facebank AG |  |  | - |  |  |  | (28,541 | )
Impairment expense |  |  | - |  |  |  | (148,054 | )
Vigtory acquisition |  |  | 10,683 |  |  |  | - |
Molotov acquisition |  |  | 128,468 |  |  |  | - |
Edisn acquisition |  |  | 12,501 |  |  |  |  |
Foreign currency translation |  |  | 211 |  |  |  | - |
Ending balance |  | $ | 630,269 |  |  | $ | 478,406 |
As of December 31, 2021 and 2020, goodwill includes an accumulated impairment charge of $148.1 million related to the historical Facebank reporting unit.

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