Changes are coming to Tubi as Founder and CEO Farhad Massoudi leaves the company as Fox Corporation restructures all digital operations.
“It has been an incredible three years since the acquisition of Tubi, leading to its great success within the Fox family… I know that I am leaving Tubi in the best shape it has ever been, and its future is very bright.” – Farhad Massoudi
Massoudi founded Tubi’s free streaming platform in April of 2014 and amassed 20 million members by 2019. It was acquired by Fox in 2020 for $440 million as a separate subsidiary and quickly became a popular streaming service worldwide. Tubi has been a top revenue earner for Fox Corporation ever since, reporting an increase in ad revenue by 25 percent year-over-year this past quarter.
This past March, Tubi announced partnerships with ComScore, VideoAmp, and LiveRamp. April brought about another partnership with Vice, bringing more documentaries to Tubi’s platform.
Fox is redesigning the platform under the new name Tubi Media Group, now led by CTO and President of Digital Paul Cheesbrough who oversaw much of the acquisition of Tubi as well as management.
“With a strong foundation to build off, from Tubi’s unrivaled growth in the AVOD space to our record-setting 4K streaming operation for Super Bowl LVII, I’m looking forward to working with our talented team to drive this growth for Fox.” – Paul Cheesbrough
Tubi Media Group is a new division that will incorporate three elements:
- Tubi Streaming – Hosting Fox’s AVOD business
- AdRise – Large-scale video advertising network encompassing all of Fox’s video library, such as Tubi, Fox Sports, Fox Entertainment, Fox News, television stations, and other services
- Fox Digital Platforms Group – Streaming platforms showcasing Fox’s sports, news, and other entertainment options, as well as Blockchain Creative Labs and Credible
An official replacement for Massoudi has yet to be named but one is expected to be announced sometime in the near future. He will remain on through the end of June to aid in a smooth transition to a new, permanent CEO.