Good morning, ladies and gentlemen, and welcome to FuboTV's 2019 Annual Meeting of Shareholders. I'm Edgar Bronfman, Jr, the Executive Chairman of the Board of Directors of FuboTV Inc. We especially welcome you to this virtual meeting of shareholders and hope that you and your families are safe and well at this unique time in our nation's history. Today's meeting will consist of the formal meeting to address the proposal set forth in our proxy statement. Questions about the company's business may be directed to Brinlea Johnson from the Blueshirt Group.
I will act as Chairman of this meeting. The Board of Directors has appointed Gina Sheldon, our General Counsel and Corporate Secretary to act as Secretary of the meeting and to record the minutes. I'm pleased introduce the members of the Board of Directors who join us remotely. David Gandler, our Chief Executive Officer, Par Jorgen Parson, Daniel Leff Henry Ahn Ignacio Figueroa and Laura Onopchenko. Also with us remotely today are Simon Nardi, our Chief Financial Officer Brinlia Johnson of The Blueshirt Group Mark Bass of Wilson Sonsini Goodrich and Rosati John Cakamanolis of Anthony PLLC Michael Sambus and Patrick Edgar of KPMG, our independent registered public accounting firm and Shakira Singleton, a representative of Issuer Direct.
I will now turn the meeting over to Gina Sheldon, who will conduct the formal part of the meeting.
Good morning, and again, welcome to FuboTV's 2019 Annual Meeting. The meeting is being held in accordance with the company's bylaws and Florida law. During the meeting, we will address the matters described in the proxy statement, which was first made available to all shareholders on or about November 19, 2020. A copy of our proxy statement is available on the meeting website, the Investor Relations section of the company's website and the SEC website. I have proof of affidavit that notice of this meeting has been duly given and that the notice of the annual meeting of the shareholders, proxy statement and proxy 8 were mailed on or about November 19, 2020 to the shareholders of record on November 13, 2020, the record date for this annual meeting.
Shakira Singleton, a representative of Issuer Direct has been appointed as our Inspector of Election for this meeting. The Inspector of Election has a complete list of the holders of record of the outstanding shares of the company's common stock on the record date. Shareholders wishing to review a copy of the list are invited to submit a request through the questions feature on the virtual meeting portal. Based on the information provided by the Inspector, I can confirm that we have present remotely or by proxy a sufficient number of shares to constitute a quorum. Therefore, the meeting is duly constituted and we may proceed with business.
If you have previously submitted your proxy, it is not necessary that you can complete another proxy to vote. Those shareholders who do have not submitted proxies and who wish to vote remotely or if you want to change your vote, you may do so through the vote my shares button on the virtual meeting portal. It's now time to move on to the business. The first item of business is the election of the directors. As indicated in the company's proxy statement, David Gandler, Edgar Bronfman, Jr, BJ Parson, Daniel Leff, Henry Ahn, Ignacio Figueres and Laura Onopachenko are nominated by the Board of Directors to serve as the company's directors with terms expiring at the next Annual Shareholders Meeting.
The Board of Directors recommends vote for each of these 7 nominees. The second item of business is the advisory vote on the compensation of our named executive officers. Although this vote is non binding, the Board of Directors will consider the outcome when making future compensation decisions for each of our executive officers. The Board of Directors recommends voting for the approval of the compensation of our named executive officers. The 3rd item of business is the advisory wrote on the frequency of future advisory to approve the compensation of our named executive officers every 1, 2 or 3 years.
Although this vote is non binding, the Board of Directors will seek to consider the outcome when deciding how frequently we should seek future non binding advisory routes to approve the compensation of our named executive officers. The Board of Directors recommends a vote to hold future shareholder votes on the compensation of our named executive officers every 1 year. The 4th item of business is the approval of the 2020 plan proposal. The 2020 plan proposal would approve the company's ability to grant incentive stock options under our new equity incentive plan. The 2020 Equity Incentive Plan or the 2020 plan including an increase in the number of shares of common stock reserved for future issuance under the 2020 plan.
We believe that the approval of the 2020 plan proposal is important to our continued business. Awards provided under such plan are vital to our ability to attract and retain outstanding and highly skilled individuals and motivate employees, directors and consultants to achieve our goals. The Board of Directors recommends voting for the approval of the 2020 plan proposal. The 5th item of business is the ratification of the form of indemnification agreement. Although neither shareholder approval nor shareholders for ratification because the members of the Board of Directors and Executive Officers are parties to and the beneficiaries of the rights contained in the Indemnification Agreement.
The Board of Directors recommends voting for the ratification of the form of indemnification agreement. The ratification of the appointment of KPMG LLP to serve as the company's independent registered public accounting firm for the fiscal year ending December 31, 2020. The Board of Directors recommends voting for the ratification of KPMG as the company's independent registered public accounting firm. We will now proceed to the question and comment period. You will have an opportunity to vote after discussion has taken place.
I remind you that the meeting has been called for the purpose of considering these 6 items of business previously described. Accordingly, all questions and comments should be confined to these matters at this time. The virtual meeting questions feature is open for shareholder questions or comments concerning this business before the meeting. Any shareholder who has questions or comments should submit your questions or comments through the virtual meeting portal. At this time, I will now turn the meeting back over to the Executive Chairman for the voting.
Thank you, Gina. The polls are now open. If you are voting today, you must submit your votes online at this time in order for them to be counted by the Inspector of Election. The Inspector of Election will not accept votes or change or any change or revocations submitted after the closing of the polls. We will pause the meeting for a minute or so to allow for final voting.
Let's take that pause now. Okay. It is now 1209 on December 14, 2020 and the polls for each matter to be voted on at this meeting are now closed. The proxies and votes will be tabulated by the Inspector of Election. I will now turn the meeting back over to Gina.
Thank you, Edgar. And with regard to proposal 1, the votes cast for each David Gantler, Edgar Bronfman, Jr, PJ Parson, Daniel Leff, Henry Ahn, Ignacio Figueres and Laura Onopachenko exceeded the number of votes cast against each such nominee. Each of the 7 nominees has been elected. With regard to proposal 2, the advisory vote to approve the compensation of our named executive officers for fiscal 2019, the proposal has passed. With regard to Proposal 3, the advisory vote on the frequency of future advisory votes to approve named executive officer compensation, option 1 passed.
With regard to proposal 4, approval of the 2020 plan proposal, the proposal passed. With regard to proposal 5, the ratification of the form of indemnification agreement to be used with each of our directors and officers, the proposal passed. With regard to proposal 6, the ratification of KPMG LLP to serve as the company's independent registered public accounting firm, The proposal passed. The final results of voting will be set forth in the report of the Inspector of Election and will also be reflected in a current report on Form 8 ks to be filed with the Securities and Exchange Commission. I will now turn the meeting back to our Executive Chairman, Edgar Bronfman.
Thank you very much, Gina. I appreciate it. This concludes the formal business of the Annual Meeting of Shareholders. The meeting is now formally adjourned. Again, general questions from shareholders regarding FuboTV may be directed to the Blue Shirt Group for Fubo.
Thank you. And we'll now answer those questions from shareholders.
Thank you, Edgar. And thank you to those who have submitted questions. We have a nice set here. I'll go ahead and kick it off. First question, how do you believe the growth of the Fubo service will compare to other leaders who have an established customer base?
Thank you. Well, if you go back to 2019 Q3, Kugo managed to acquire 4% of net adds relative to our competitive set. 2020, as you may have heard on the earnings call, we netted 11% of net adds. So we're very comfortable with our continued growth rate and we feel very comfortable we'll continue to be able to drive the current growth rates discussed at the earnings call.
Thank you. Our next question, as a shareholder of Fubo and also a sports gambler, can you address how the streaming lag will affect live betting? Online Leisure technology has figured out a way to update lines in real time, but with a streaming delay, this could leave a very small window to place bets. I do not know that very early in this, but I was just curious as to the shared concern. Thank you, David Gammler, Simone and the rest of the team.
Yes, thank you very much. So we feel we actually have a moat around this type of technology. As we've said many times, Fubo is a cloud born platform. We control all of our own video encoding capabilities and the whole streaming workflow. So as time goes on, we'll be able to bring games closer and closer to the edge as we release wagering capabilities in the platform.
Great. Thank you. Do you believe that sports wagering will be implemented prior to the Super Bowl?
I think that's a wonderful question. I think the answer is yes. The only thing I cannot confirm is which Super Bowl. But no, in all seriousness, obviously, we've we said on the earnings call that we're very eager to get started in the space. We came out with news very quickly out of the gate 2 weeks ago with Balto Sports, which is the first phase of our sort of wagering roadmap.
And so we'll look to provide more information on this topic and the rollout of our service probably at the next earnings call.
Thank you. Can you elaborate on your relationship with Disney and Sky Media?
Yes, those are 2 excellent companies. We have great relationships with both Disney and Sky Media. As you know, they are investors in the company. We have relationships with them on the content side, but at this moment in time, our relationships are strictly from a content perspective.
Thank you. And can you talk about your user predictions? How many users are you projected to add during the first half of the year?
Yes. So we haven't disclosed that information yet. Simone has already discussed at the last earnings call, our revenue targets for 2021. We'll begin to disclose that information on the Q4 earnings call that is still to be determined probably the end of February or early March.
Thank you very much. And thank you to all who have submitted questions. Feel free to reach out if you have any additional and we'll be happy to get back to you and address. At this point, I'll turn it over for David for closing remarks.
Yes. Well, first of all, I want to thank Edgar for really leading the charge at Fubo. I also want to thank our Board of Directors that have been extremely supportive. Our management team that has done a tremendous job in a very difficult time for sports first service. But I also want to thank our investors who have really demonstrated fortitude and belief in what we're doing here.
And we'll continue to do our best to be able to drive the business forward. Thank you so much and
be well.