Today during Fox’s upfront event to promote its ad opportunities, we got some new details about Tubi. According to Fox, they want to keep the number of ads seen on Tubi low. They say this will be best for viewers with a limited number of interruptions. Fox also pushed how this will be best for advertisers as their ads will standout more.
Fox also announced that Tubi now has 50,000 on-demand titles along with a large number of live channels with Tubi. To help grow its lineup Fox has struck a deal with Warner Bros. Discovery to add content from their networks. This helped Tubi attract new viewers in the 1st quarter of 2023.
So how many people are watching Tubi? According to Fox Tubi now has 1% of all TTV viewership now happens on Tubi. Considering the hundreds of streaming services, that is impressive.
“Tubi’s Silicon Valley roots and proprietary purpose-built tech drives a superior and fully integrated experience for advertisers that’s high impact with low ad loads and deep niches for targeting,” said Paul Cheesbrough, CEO of Tubi Media Group. “As the #1 AVOD service in the U.S. it shows, as Tubi continues to grow on all fronts posting record ad revenue and total viewing time growth numbers quarter after quarter.”
“Tubi viewers have incredibly personalized journeys because our massive library serves up an endless stream of captivating, bingeable content that feels like it was made for you,” said Mark Rotblat, Tubi Chief Revenue Officer. “One percent of all streaming and TV viewership is now on Tubi, making us the largest and fastest growing free ad supported streaming service in the U.S., and if you double-click on only ad-supported viewership our share is significantly higher. Advertisers’ audiences are on Tubi and the brands should be in a bigger way too.”
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.
Tubi was up 31 percent in revenue 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 in the 1st quarter of 2023 with no signs of slowing down anytime soon.
Fox seems to have used its 2023 Super Bowl broadcast to help grow Tubi with several viral ads that helped pushed growth. The question now is can they keep it up now that the viral ad is in the past.