June 17th 2024.
Tubi has been making waves lately with its increasing popularity as a video streaming platform. In fact, it just had its most successful month yet, surpassing other major streamers like Max and Disney+ in terms of viewership in May. This is quite a feat for the free streaming service, which relies on advertisements to provide its users with free content. According to Nielsen Data, Tubi saw a significant jump in viewership, almost twice as many as the previous year, with an average audience of 1 million.
The Los Angeles Times reported that Tubi's 46% increase in viewership has solidified its position in the highly competitive streaming market. On the other hand, Disney+ fell short of overtaking Tubi, with only 969,000 viewers in the same period. Other streamers that also lagged behind were NBCUniversal's Peacock and Paramount+. Even in the free market, Tubi reigns supreme, dominating over other platforms like the Roku Channel and Pluto TV. However, it still falls behind YouTube TV in terms of viewership.
Tubi's recent success can be attributed to the rising cost of paid subscriptions, which often still include ads in their cheaper plans. Adam Levinson, the company's chief content officer, believes that this trend has pushed more viewers towards Tubi's free alternative. In an interview with a news outlet, Levinson shared, "Of course, those are things that are going to positively impact us."
Tubi was founded in 2017 and was later acquired by Fox for $440 million in 2020. With a catalog of over 250,000 television episodes and movies, it has become a popular hub for viewers. Additionally, Tubi has also made a name for itself as a platform for Black filmmakers, hosting Village Roadshow's Black Noir Cinema initiative, which produces Blackploitation-style films.
In its third quarter, Tubi showed significant growth in revenue, despite a slow advertising market. Fox reported a 22% increase in revenue for the free ad-supported streamer. Analysts at research firm MoffettNathanson shared their findings, stating that "Tubi continues to pull ahead from its competition and post faster than expected growth."
With its continued success, Tubi has plans to expand into original scripted content and has its first original series set to launch this fall. The streamer hopes to capitalize on its increasing popularity and cement its position in the streaming market. In a related partnership, Tubi has also joined forces with The Black List for a pioneering initiative called "To Be Commissioned," which aims to showcase diverse voices and stories in the entertainment industry.
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