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fuboTV to Expand Global Footprint with Acquisition of Molotov SAS, France’s Leading Live TV Streaming Service

By on November 9, 2021 0


Acquisition Accelerates fuboTV’s Mission to Create the World’s First Live Interactive Sports Live Television Broadcasting Platform

NEW YORK, November 09, 2021– (BUSINESS WIRE) – fuboTV Inc. (NYSE: FUBO), the leading live sports TV streaming platform, today announced that it has taken a significant step towards global expansion and has reached an agreement binding to acquire the French number one live TV streaming company, Molotov SAS.

The transaction fuels fuboTV’s global expansion strategy by leveraging Molotov’s unique over-the-air live television service and its video-on-demand (AVOD) advertising platform, Mango, totaling nearly four million monthly active users in France (September 2021). The Molotov streaming platform was designed to be easily localized for new markets and languages, facilitating quick and efficient launches in other countries. The technological capabilities between the two companies are expected to enable fuboTV to launch its interactive sports and entertainment streaming platform on a global scale.

Molotov brings a freemium model to fuboTV’s international business that takes advantage of a free tier to drive user growth and sell additional premium channel packages to customers. fuboTV plans to leverage Molotov’s strategy and low-cost marketing funnel for international growth while implementing fuboTV’s marketing technology to accelerate Molotov subscriptions.

Molotov has distinguished itself in France with a unique entertainment experience focused on live and on-demand television series, films, documentaries and children’s content. fuboTV will seek to provide Molotov with sports content and sports-oriented product features. The newly combined streaming platform has the potential to deliver a robust and personalized product experience for everyone in the household. This comprehensive offering will also allow fuboTV to personalize local content offerings as it enters new markets.

Under the terms of the agreement, fuboTV has submitted a binding offer to acquire Molotov SAS for 164.3 million euros (approximately $ 190 million at the exchange rate of November 8, 2021) in a combination of a cash consideration. and in equities, of which at least 85% is expected in equity. The acquisition is subject to the required approvals and customary closing conditions. It is estimated that it will close in the first quarter of 2022, when the company expects to provide guidance on the impact of the transaction on fuboTV’s finances.

Molotov will remain based in Paris and managed by JeanDavid Blanc, its co-founder. White was also named president, Molotov. Molotov’s roughly 100 employees will remain with the company and fuboTV plans to further expand the product and engineering team in Paris. Molotov was founded in 2015 by Blanc (founder of AlloCiné) and Pierre Lescure (co-founder of Canal +).

“Molotov set the benchmark for ad-supported and subscription-based streaming platforms in Europe,” said David Gandler, co-founder and CEO of fuboTV. “We believe this strategic asset will help accelerate our goal of achieving global scale and operational leverage as we continue to improve and innovate our interactive live streaming television experience for sports fans and their families.”

Gandler added: “In August, we launched an At-The-Market (ATM) equity offering program to provide the flexibility to raise capital to accelerate our growth plans, including global expansion. The opportunity offered by Molotov is a perfect example of how we can do this. We look forward to providing a truly category-defining live TV live streaming platform to consumers around the world. “

Blanc commented: “We are delighted to evolve Molotov with fuboTV with whom we share the same ambition and the same vision of a live TV streaming platform. Our goal is to provide consumers with a best-in-class streaming experience with premium TV content on a global scale. “

fuboTV currently operates in the United States and Canada and was the first American virtual MVPD to enter Europe with its 2018 launch in Spain. Molotov operates in France, Burkina Faso, Côte d’Ivoire, Senegal and Cameroon and is expected to launch soon in the Democratic Republic of Congo. The Company also operates in Morocco through a partnership with Maroc Telecom.

Third Quarter 2021 Live Results Webcast

fuboTV will comment on the Molotov transaction during its third quarter 2021 earnings webcast today at 5:30 p.m. ET. The live webcast will be available on the Events page of the fuboTV Investor Relations website.

About fuboTV

With a mission to provide the world’s most exciting live sports TV experience through the widest range of premium content, interactivity and built-in betting, fuboTV Inc. (NYSE: FUBO) is focused on achieving its vision for a streaming platform that transcends the industry’s current virtual MVPD model. fuboTV Inc. operates in the United States, Canada, Spain and, through its planned acquisition of Molotov, in France.

Leveraging its proprietary data and technology platform optimized for live TV and sports audiences, fuboTV Inc. aims to transform passive viewers into active participants and define a new category of interactive sports TV and Entertainment. With its cable TV replacement product, fuboTV, subscribers can stream a wide range of over 100 live TV channels, including 74 of Nielsen’s top 100 networks in sports, news and entertainment. entertainment, more than any other live TV streaming platform (source: Nielsen Total Viewers, 2020). Subscribers can interact with fuboTV’s live streaming experience through free predictive games, which are embedded in some sports content.

Fubo Gaming Inc., a subsidiary of fuboTV Inc., launched Fubo Sportsbook, a next-generation mobile bookmaker specifically designed to integrate with fuboTV, in 2021.

About Molotov

Founded by JeanDavid Blanc (founder of AlloCiné) and Pierre Lescure (co-founder of Canal +), Molotov is a streaming platform that is revolutionizing access to television, available on all screens and connected objects (TechCrunch). Molotov offers a unique experience combining linear and non-linear programs from nearly 200 publishers and TV channels in a single interface. Selected in the French Tech 120 index of the French government, among the 10 Top LinkedIn Start-ups 2020, and awarded four times as “Best application of the year” by users of the App Store (Apple), Google Play ( Android) and AppAnnie, Molotov has, after 5 years of existence, 17 million registered users, which makes it the French leader in the distribution of streaming programs. The company launched a B2B division, Molotov Solutions, in 2020, making its technology and know-how in streaming and OTT platform operations available to professionals.

Forward-looking statements

This press release contains forward-looking statements of fuboTV Inc. (“fuboTV”) that involve substantial risks and uncertainties. All statements in this press release that do not relate to historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the acquisition of Molotov, expected synergies from technology platforms , our expansion plans and the markets in which we plan to operate, our financial condition, our anticipated financial results, our market opportunities and our business strategy and plans. The words “could”, “will”, “plan”, “intend”, “anticipate”, “approximate”, “expect”, “potential”, “believe” or the negative of these terms or other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results or events could differ materially from the plans, intentions and expectations disclosed in fuboTV’s forward-looking statements due to a number of important factors, including, but not limited to, risks relating to our pursuit and our engagement in acquisitions; our actual operating results may differ materially from our expectations; risks related to the Company’s access to capital and the prospect of fundraising to finance its current operations and support its expected growth; restrictions imposed by content providers on our distribution and marketing of our products and services; our reliance on third party platforms to operate certain aspects of our business; risks related to our technology, as well as risks related to cybersecurity and data privacy; our ability to achieve or maintain profitability; our sales and gross profit are subject to seasonality; our operating results may fluctuate; our ability to attract and retain subscribers; we may not be able to license streaming content or other rights on acceptable terms; the risks related to our ability to capitalize, develop and market a sports betting offer and the regulatory regime and the associated risks associated with such an offer; risks related to the difficulty of measuring key indicators related to our activity; risks associated with the highly competitive nature of our industry; risks associated with ongoing or future legal proceedings; and other risks, including the effects of industry, market, economic, political or regulatory conditions, future exchange and interest rates, and changes in laws, regulations, tax and other rates and policies , including the impact of COVID-19 on the wider market. Other risks that could cause actual results to differ materially from those expressed or implied by these forward-looking statements are discussed in our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2021 filed with the Securities and Exchange Commission. (“SEC”) on August 11, 2021 and our other periodic filings with the SEC. We encourage you to read these risks in detail. The forward-looking statements contained in this press release represent the views of fuboTV as of the date of this press release. fuboTV predicts that subsequent events and developments will change its views. However, although it may choose to update these forward-looking statements at some time in the future, it specifically disclaims any obligation to do so. You should therefore not rely on any such forward-looking statements as representing the views of fuboTV as of any date subsequent to the date of this press release.

View the source version on businesswire.com: https://www.businesswire.com/news/home/20211109005401/en/

Contacts

Investor contacts

Alison Sternberg, fuboTV
[email protected]

The Blueshirt group for fuboTV
[email protected]

Media contacts

Jennifer L. Press, fuboTV
[email protected]

Bianca Illion, fuboTV
[email protected]

Valérie Guiard-Schmid Ackaouy, Molotov
[email protected]

[email protected]