Tubi Helps Boost Fox’s Advertising Revenue

Tubi, a free, ad-supported streaming service, helped boost the advertising revenue for Fox for its first fiscal quarter. 

According to CNBC, Fox acquired Tubi in 2020 for an estimated valuation of $490 million to boost advertising revenue. And it looks like it paid off. 

Tubi offers a library of Tubi Originals, on-demand movies and TV shows, and a selection of channels. Having an account is not necessary to access Tubi’s content but creating a free account grants users access to unlock extra features such as watchlists. 

CNBC reported what Fox CEO, Lachlan Murdoch, said about the reported earnings, “In a quarter when digital advertising revenue appeared to be under pressure, Tubi posted standout revenue growth of almost 30%,” to about $165 million.”

Murdoch also stated on a call with investors, per CNBC, “Tubi’s revenue for the first time surpassed the advertising revenue generated by Fox Entertainment “in a meaningful way.” Driving that was the 50% increase in total viewing time, marking Tubi’s highest ever quarterly viewership at 1.3 billion hours.”