January 30, 2019
Tubi TV, the advertising-based video-on-demand service, Jan. 30 announced plans to spend more than $100 million on content in 2019.
The San Francisco-based service currently features a library of more than 12,000 movies and television series from more than 200 content partners, including most major studios.
Launched in 2014, Tubi said viewership increased 430% in 2018 compared to 2017, with December generating nearly as much content streamed as all of 2017.
The company said it turned a profit in the fourth quarter, ended Dec. 31, 2018, with revenue up more than 180% in 2018. More than 1,000 advertisers ran spots on Tubi, including consumer products and automotive advertisers reaching audiences via ads on movies and TV shows.
Late last year, Tubi became the third streaming service to be made available on Comcast’s X1 platform — behind Netflix and YouTube. The service plans to launch beyond the U.S. and Canada, with the first territories expected to be announced this quarter.
“In 2018, Tubi saw tremendous growth as consumers, fatigued by SVOD subscriptions and services, sought alternative entertainment choices,” CEO Farhad Massoudi said in a statement. “We will continue to use profits to make bigger bets on content, enhance the viewing experience, and continue to press ahead into new grounds in what is our core advantage: technology and data.”