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Statement From FuboTV Regarding December 14, 2022 Cyber Attack
Rhea-AI Impact
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Rhea-AI Sentiment
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Tags
Rhea-AI Summary
On December 14, 2022, FuboTV customers faced access issues during the Qatar 2022™ semifinal match due to a criminal cyber attack, not bandwidth issues. FuboTV promptly contained the incident and restored services by the next evening, regretting the disruption. The company is cooperating with law enforcement and has engaged Mandiant for investigation. While no customer data breach has been reported, FuboTV emphasizes its commitment to cybersecurity and transparency, promising updates as the investigation progresses.
Positive
Service was restored quickly after the cyber attack within a day.
Engagement of Mandiant, a reputable incident response firm, demonstrates a proactive approach to cybersecurity.
Negative
The cyber attack disrupted access for customers during a high-profile event, potentially harming customer trust.
The incident raises concerns about FuboTV's cybersecurity measures and the vulnerability to future attacks.
NEW YORK--(BUSINESS WIRE)--
On December 14, 2022, the day of the Qatar 2022™ semifinal match between France and Morocco, many FuboTV customers experienced issues accessing their accounts. The incident was not related to any bandwidth constraints on Fubo’s part. We were instead the target of a criminal cyber attack.
FuboTV takes this matter very seriously. Once we detected the attack, we immediately took steps to contain the incident and worked to restore service to all of our users as quickly as possible. Service was fully restored by last evening. We deeply regret the disruption caused by this incident in the meantime.
We have reported the incident to law enforcement and have engaged Mandiant, an industry-leading incident response firm, to assist with our continuing investigation and response. Our primary focus currently is on ensuring that the incident is fully contained and that there is no threat of further disruption for any of our customers.
Our investigation is at an early stage, but we are committed to transparency regarding this incident. We will provide an update at an appropriate time when we have more information to share.
The entire FuboTV team is absolutely dedicated to delivering an exceptional experience while protecting customer data. We appreciate the trust our customers have in us and the opportunity to serve them everyday. Although no company can ever be immune from the risk of cyber attacks, we assure you that we are working diligently with our outside cybersecurity experts to take all appropriate steps to remediate this incident and to prevent any similar incident from recurring in the future.
About FuboTV
With a mission to build the world’s leading global live TV streaming platform with the greatest breadth of premium content and interactivity, FuboTV Inc. (NYSE: FUBO) aims to transcend the industry’s current TV model. FuboTV Inc. operates in the U.S., Canada, France and Spain.
Leveraging its proprietary data and technology platform optimized for live TV and sports viewership, FuboTV Inc. aims to turn passive viewers into active participants and define a new category of interactive sports and entertainment television. In the U.S., the company's sports-first cable TV replacement product, FuboTV, aggregates more than 125 live sports, news and entertainment networks and is the only live TV streaming platform with every Nielsen-rated sports channel (source: Nielsen Total Viewers, 2021). Subscribers can engage with the content they are watching on FuboTV through interactive product features like FanView, an in-video experience showcasing live game, team and player stats and scores in real time. Fubo was also the first virtual MVPD to enable simultaneous viewing on up to four screens (Multiview on Apple TV) as well the first to stream in 4K HDR.
Ranked #1 in Customer Satisfaction among Live TV Streaming Providers by J.D. Power (2022), FuboTV has been called “a force in sports streaming” by Forbes, “the best streaming service for sports aficionados” by Tom’s Guide and was heralded by CNET for its “ease of use.” Learn more at https://fubo.tv
This press release contains forward-looking statements of FuboTV Inc. (“FuboTV”) that involve substantial risks and uncertainties. All statements contained in this press release that do not relate to matters of historical fact are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including statements regarding the cyber attack and our ongoing investigation and response, as well as our remediation and prevention efforts. 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 the forward-looking statements that FuboTV makes due to a number of important factors, including but not limited to risks related to our pursuit and engagement in acquisitions; our actual operating results may differ significantly from our guidance; risks related to FuboTV’s access to capital and fundraising prospects to fund its ongoing operations and support its planned growth; risks relating to diverting management’s attention from FuboTV’s ongoing business operations to address integration and fundraising efforts; the 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 cybersecurity and data privacy-related risks; our ability to achieve or maintain profitability; our revenue is 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; risks related to the prior operation and dissolution of our wagering business; risks related to the difficulty in measuring key metrics related to our business; risks related to the highly competitive nature of our industry; risks related to 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 tax and other laws, regulations, rates and policies, including the impact of COVID-19 on the broader market. Further risks that could cause actual results to differ materially from those matters expressed in or implied by such forward-looking statements are discussed in our Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2022 filed with the Securities and Exchange Commission (“SEC”) on November 7, 2022 and our other periodic filings with the SEC. We encourage you to read such risks in detail. The forward-looking statements in this press release represent FuboTV’s views as of the date of this press release. FuboTV anticipates that subsequent events and developments will cause its views to change. However, while it may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. You should, therefore, not rely on these forward-looking statements as representing FuboTV’s views as of any date subsequent to the date of this press release.
