Exhibit 99.1
Our Business
On
October 29, 2025 (the “Closing Date”), we, The Walt Disney Company
As
used herein, the words “we,” “our,” “us,” and the “Company” refer to FuboTV Inc., a Delaware
Overview
We
are a consumer-first live TV streaming company with a mission to deliver premium sports, news and entertainment programming through a
best-in-class user experience that offers greater choice, flexibility and value. In recent years, live TV streaming has disrupted the
traditional “Pay TV” model of linear video delivered via cable or satellite streaming platforms for a paid subscription fee.
This disruption has shifted billions of dollars in
Our Offerings
In the United States, we offer consumers a broad array of programming focused on sports, news and entertainment through Fubo-branded and Hulu Live-branded services, both live and on-demand, including tens of thousands of live sporting events. Outside the United States, we operate live TV streaming services in Canada, France and Spain. Our content can be accessed through streaming devices including Smart TVs, mobile phones, tablets and computers. Through our offerings, we provide consumers multiple options from “skinny” services with a number of targeted channels to more robust services at varying price points, delivering broad choice and flexibility to consumers.
Fubo Offering
Our
Fubo-branded
Hulu
Live
International Offering
Outside
the United States, we currently operate in Canada, France and
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Certain
Commercial Arrangements with
In
connection with the Business Combination
The
Industry Overview
Streaming services have experienced rapid growth in adoption as consumers engage with streaming video and audio through a variety of devices, including connected TVs, mobile phones, and tablets. While traditional Pay TV still accounts for a meaningful share of Pay TV viewing hours for U.S. households, the proportion is declining as customers continue to cut the cord. We believe consumers are increasingly favoring the superior customer experience, competitive pricing, and better value of OTT streaming services as compared to traditional Pay TV services.
Sports and news content have been a key driver for traditional Pay TV operators to retain and grow audiences. Historically, most streaming subscription services primarily focused on entertainment content offerings, requiring sports fans to, until recent years, remain tethered to the traditional Pay TV ecosystem. Now, sports fans and others are increasingly seeking OTT offerings, which positions the Company well to provide consumers attractive streaming offerings featuring an enhanced live sports and entertainment viewing experience.
Our
Business
Our
business model is centered on operating and monetizing our sports-, news- and entertainment-focused live TV streaming offerings under
multiple brands and distribution arrangements. Through our offerings, we seek to serve consumers across the demand curve, offering multiple
plan options from “skinny” packages with a number of targeted channels to more robust packages at varying price points, designed
to deliver greater choice and flexibility. We leverage sporting events and other popular news and entertainment programming to acquire
subscribers at efficient acquisition costs, given built-in demand for such programming. For
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We drive our business model through three core strategies, coupled with disciplined capital management:
Seasonality
We
typically generate significantly higher levels of revenue and subscriber additions in the fourth (July - September) and first (October
- December) quarters of our fiscal year. This seasonality is driven primarily by an influx of new subscribers at the start of the National
Football League and college football seasons as well as for the fall TV season when many entertainment networks premiere new programming.
Our operating results may also be affected by the scheduling of major sporting events that do not occur annually, such as the World Cup,
the cancellation or postponement of sporting events and adjustments to our content portfolio and corresponding availability of sports
Our Growth Strategies
We believe streaming has begun to surpass traditional Pay TV in several key areas, including content choice, ease of access and use across devices, product features and attractive pricing to consumers. Our growth strategy includes acquiring subscribers who view our offerings as a compelling sports, news and entertainment alternative to traditional Pay TV. We seek to actively engage those subscribers by providing a user experience that offers greater choice, flexibility and value, compared to traditional Pay TV providers. We believe we are well-positioned for future growth through our execution on the following strategies:
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Intellectual Property
Our intellectual property is an essential and valuable element of our business. We rely on a combination of patent, trademark, copyright and other intellectual property laws, confidentiality agreements and license agreements to protect and enforce our intellectual property rights. We also license certain third-party technology and intellectual property for use in conjunction with our products.
We believe that our continued success depends on hiring and retaining highly capable and innovative employees, especially as it relates to our engineering base. It is our policy that our employees and independent contractors involved in intellectual property development are required to sign agreements acknowledging that all inventions, trade secrets, works of authorship, developments and other processes generated by them on our behalf are our property and assigning to us any ownership that they may claim in those works. Despite our precautions and policies, it may be possible for third parties to obtain and use without consent intellectual property that we own or license. Unauthorized use of our intellectual property by third parties, and the expenses incurred in protecting our intellectual property rights, may adversely affect our business, financial condition and results of operations.
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Patents and Registered Designs
As
of December 1, 2025, we had five issued U.S. utility patents, three U.S.
Trademarks
We also rely on several registered and unregistered trademarks to protect our brand and business. As of December 1, 2025, we had thirty-eight trademarks registered globally and two trademark applications. “fuboTV” and “FUBO” are registered trademarks in the United States and the European Union.
Competition
The Pay TV streaming market continues to grow and evolve as more viewers shift from traditional Pay TV to OTT streaming. There is significant competition in the live TV market for users, advertisers, and broadcasters. We principally compete with traditional Pay TV operators, such as DirecTV, Comcast, Cox and Altice, along with other digital multichannel video programming distributors (“DMVPDs”), such as YouTube TV, DirecTV and Sling TV. We also compete with network-operated direct-to-consumer streaming services, such as Peacock and Paramount+, as well as new offerings from traditional Pay TV operators, such as Comcast’s Xfinity Sports & News and DirecTV mySports, meant to offer a DMVPD-like product.
We compete on various factors to acquire and retain subscribers. These factors include quality and breadth of content offerings, especially within live sports; product features; user experience and engagement; brand awareness in the market; product pricing; and a competitive value proposition. Many users have multiple subscriptions to various Pay TV and streaming services and allocate time and money between them. Thus, while the presence of these competitors in the market has helped to boost consumer awareness of TV streaming, contributing to the growth of the overall market, their resources and brand recognition present substantial competitive challenges.
We
also face competition for advertisers, which in part depends on our ability to scale our subscriber base. Pursuant to the commercial
services agreement entered into in connection with the Business Combination, certain affiliates of Disney will sell ads on behalf of
us for
Furthermore, we compete to attract and retain content programmers. Our ability to license content from such programmers depends on the scale of our subscriber base as well as the economics and terms of the carriage and distribution agreements.
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Our People and Human Capital Management
Who We Are
We are an inclusive group of individuals, creatives, technologists, analysts and more. Some of us love sports, some binge the news, others prefer rom-coms. But we are united by a common mission — building a consumer-first live TV streaming company delivering premium sports, news and entertainment programming through a best-in-class user experience that offers greater choice, flexibility and value.
As
of December 1, 2025, we had approximately 510 employees globally, of which approximately 340 were located in North America and approximately
170 were located in Europe and India. Additionally, we rely on independent contractors and temporary personnel to supplement our workforce
from time to time. We have not experienced any work stoppages, and we consider our relationship with our employees to be good. Our French
employees are covered by the national collective bargaining agreement for the consulting and engineering activities in France. None of
our other employees in the United States or internationally are represented by a labor union or covered by a collective bargaining
Our Values and Talent Development
We view our employees as central to the success of our business and achieving our mission. We onboard new employees with training programs on our values, certain aspects of our business, and important policies, including our Code of Business Conduct and Ethics. We also value ongoing development and continuous learning, and strive to support and provide enriching opportunities to our employees. Throughout the year we monitor employee engagement and provide periodic training and informational sessions on our business and policies, including security awareness, through a variety of forums, including all-hands meetings, senior leadership fireside chats and company-wide newsletters. Management uses input collected during these sessions to ensure ongoing awareness of employees’ needs and improve activities aimed to serve our customers. Collectively through these initiatives we aim to foster engagement and transparency with our employees, and to keep our employees well-informed on our business goals to enhance alignment, collaboration, and a shared sense of purpose among our employees.
Inclusion and Belonging
We prioritize building an inclusive, equitable, and empowered team representing a mix of backgrounds, industries, skills, and levels of experience. We believe the different backgrounds, traditions, views and talents each of our employees brings to us enrich the company as a whole and will help us achieve executional excellence. In 2020, we formed a council comprised of different team members throughout various levels of the organization, who recommend and help organize and celebrate both engagement and inclusion initiatives within the company. We are focused on creating and maintaining a workplace free from discrimination or harassment on the basis of race, religion, religious creed, color, ethnic or national origin, ancestry, gender, sexual orientation, age, marital status, military service or veteran status, disability, medical condition, or any other status protected by applicable law. Our policies and compliance trainings prohibit such workplace discrimination and harassment, and all our employees are expected to exhibit and promote honest, ethical, and respectful conduct in the workplace.
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Compensation and Benefits
Our compensation programs and benefits packages are designed to attract, retain and motivate exceptional talent who possess the skills necessary to drive our business objectives, assist in the achievement of our strategic goals and create long-term value for our shareholders. We offer employees compensation packages designed to be competitive that include base salary, and, depending on the role, business function and geographic market, performance-based cash bonuses, commissions, long-term incentive equity, and performance-based equity. We are proud that we have granted equity to the majority of our employees across all levels of the organization as part of their total compensation package. We believe this fosters a stronger sense of ownership and further aligns our employees’ interests with the interest of our shareholders. In addition to our compensation programs, we offer a variety of benefits to our employees, which can include 401(k) plan with matching, health (medical, dental and vision) insurance, life insurance, paid time off, paid parental leave, a referral bonus program and company-sponsored short-term and long-term disability. We believe that a competitive compensation and benefits program with both short-term and long-term award opportunities, including awards tied to the achievement of meaningful performance metrics, allows us to align employees with shareholder interests.
Health and Safety
We are committed to the health and safety of our employees, and continue to adapt to ever-changing workplace and workforce dynamics. The majority of our employees have adopted a hybrid work schedule (consisting of both in-person work and working from home); however some of our employees continue to work remotely full-time, and, in the long term, we expect some personnel to continue to do so on a regular basis. We are focused on building capabilities to support a variety of work styles where individuals, teams, and our business can be successful. We have invested in programs that help support our employees’ day-to-day wellness needs and goals including access to professional counselors, health coaching and advocacy services. We also maintain a whistleblower hotline through which employees can report health and safety risks.
Government Regulation
Our business and our devices and platform are subject to numerous domestic and foreign laws and regulations covering a wide variety of subject matters. These include general business regulations and laws, as well as regulations and laws specific to providers of Internet-delivered streaming services and Internet-connected devices. New or modified laws and regulations in these areas may have an adverse effect on our business. The costs of compliance with these laws and regulations are high and are likely to increase in the future. We anticipate that several jurisdictions may, over time, impose greater financial and regulatory obligations on us. If we fail to comply with these laws and regulations, we may be subject to significant liabilities and other penalties. Additionally, compliance with these laws and regulations could, individually or in the aggregate, increase our cost of doing business, impact our competitive position relative to our peers, and otherwise have an adverse impact on our operating results. For additional information about the impact of government regulations on our business, see “Risk Factors—Risks Related to Regulation” and “Risk Factors—Risks Related to Privacy, Consumer Protection and Cybersecurity” in Part II, Item 1A in our Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025, filed with the Securities and Exchange Commission (“SEC”) on November 3, 2025.
Data Protection and Privacy
We are subject to various laws and regulations covering the collection, use, access to, confidentiality and security of health-related and other personal information, and additional laws could apply in the future to our operations or the operations of our partners. These laws and regulations, and their application to our business, are increasingly shifting and evolving. In the United States, numerous federal and state laws and regulations, including data breach notification laws, health information privacy and security laws and consumer protection laws and regulations govern the collection, use, disclosure, and protection of health-related and other personal information. In addition, certain foreign laws govern the privacy and security of personal data, including health-related data. Any actual or perceived failure to comply with these laws and regulations may result in investigations, claims and proceedings, regulatory fines or significant civil and/or criminal penalties, damages for breach of contract, or orders that require us to change our business practices, including the way we process data.
For additional information about the impact of data protection and privacy regulations on our business, see “Risk Factors—Risks Related to Privacy, Consumer Protection and Cybersecurity” in Part II, Item 1A in our Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025, filed with the SEC on November 3, 2025.
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Corporate Information
We were originally incorporated in 2009 as a Florida corporation. On the Closing Date, in connection with the Business Combination described below, we converted from a Florida corporation to a Delaware corporation and changed our name from fuboTV Inc. to FuboTV Inc. As part of the conversion, all of our issued and outstanding shares of common stock were automatically converted into issued and outstanding shares of Class A common stock, par value $0.0001 per share, and we created a new class of shares of Class B common stock of FuboTV Inc., par value $0.0001 per share.
On
the Closing Date, the Company,
Our principal executive offices are located at 1290 Avenue of the Americas, 9th Floor, New York, New York 10104, and our telephone number is (212) 672-0055.
Available Information
Our
internet website address is www.fubo.tv. At
We
announce material information to the public through filings with the SEC, the investor relations page on our website, press releases,
our or our Chief Executive Officer’s X accounts (@fuboTV; @fuboTV_PR;
Except as specifically indicated otherwise, the information found or available by hyperlink on our website or any other outlets we identify from time to time is not and shall not be deemed to be part of this or any other report we file with, or furnish to, the SEC.
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