Tubi achieved double-digit revenue increases as well as viewing time during the first quarter of 2023. The platform is a free ad-supported streaming service run through the Fox Corporation. While Fox in general reported revenue losses in the first quarter, it attributes much of its Q1 revenue to advertisements, of which Tubi has plenty.
As audiences increasingly cut cable costs, they’re flocking to streaming services. Ad-supported streaming is picking up popularity among viewers looking to save even more to access their favorite films and series without resorting to piracy.
Last February, Tubi became the most-watched free ad-supported streaming TV platform with over 64 million active monthly users globally. That’s an increase of 40 million subscribers since the Fox Corporation bought the platform in 2020.
Sources are reporting Tubi “was up 31 percent over the year prior to $170 million, which it said comes on the back of increased engagement and stable pricing.” Viewing time also significantly increased up to 38 percent with no signs of slowing down anytime soon.
With the recently founded Tubi Media Group, the CEO of Fox Lachlan Murdoch deemed Tubi’s growth as “nothing short of stellar…. Results for Tubi show the momentum across the platform accelerated, having recently marked the three-year anniversary of our acquisition of Tubi.”