FuboTV Issues Production Company $10M in Stock in Content Deal

FuboTV announced a multiyear partnership with Maximum Effort Productions, co-founded by actor Ryan Reynolds and movie executive George Dewey in 2018. The first-look deal is for unscripted content, which will run on an upcoming channel called Maximum Effort Network, part of the virtual MVPD's push to strengthen its slate of free, ad-supported TV (FAST) channels available to fuboTV subscribers. Fubo grew its FAST channels to 40 in Q2 to help drive long-term ad average revenue per user growth, said CEO David Gandler on the company's Thursday earnings call (see 2208050024); it expects to grow the FAST offerings to 100 by year-end. Maximum Effort has creative control over the channel's content. FuboTV will manage all advertising sales for the channel, the companies said. Under the agreement, Maximum Effort will receive $10 million in shares of Fubo common stock, said an SEC filing.