FOX executives continue to be pleased with Tubi as a growing revenue stream, but they declined to cite user numbers in their Q1 earnings call. The company did report total view time on Tubi is up 30% growth compared to last year, when Tubi attained 220 million hours of views in September alone.
This year, Tubi released its first four original films, and two have already generated a positive return on investment within a matter of months. Over and over, FOX execs cited their low cost as a factor in achieving profitability in a hurry. Viewers should expect more low-budget films and shows on the platform. There are no plans for further international expansion at this time.
FOX CEO Lachlan Murdoch said, “We have made a strong start to the 2022 fiscal year with broad-based operating momentum led by the return of a full slate of live events at FOX Sports, ratings leadership at FOX News and exceptional progress at Tubi.”
Murdoch added, “Our exceptional 2021 financial results highlight the strength of our distinct strategy and serve as a foundation for sustained operating momentum. Despite the challenges presented by COVID, our businesses continued to inform and entertain households across the country. And in the midst of it all, we strengthened our core brands and expanded our digital capabilities, which together provide a robust platform for future growth.”
It’s likely that Tubi is experiencing this change because of Fox's inclusion of 10 sports channels: Fox Sports, Fox Deportes, NFL Channel, MLB Channel, beIN Sports Xtra en Español, Fubo Sports Network, Pac-12 Insider, Stadium and USA Today SportsWire which undoubtedly brought Tubi a much wider audience. The FAST service has 48 live TV stations in total, which is more than DISH’s Sling TV.
Tubi also launched the Dust Channel, which offers 30 titles such as “The Space Invaders: In Search of Lost Time,” “14 Minutes From Earth”, “Automata,” and “The Universe.” All in all, the ad-supported streaming service caters to an array of audiences.
Arguably with the biggest number of streaming titles, this “TV on steroids” streaming service claims to have more than 35k titles from over 250 content partners. Some newly added content includes “A Fish Called Wanda,” “Django Unchained,” “Coming to America,” “Taxi,” and “Mr. & Mrs. Smith.”
Tubi’s goal for next year is to have more, more, and more content. Including its new original movie, “Corrective Measures,” with Bruce Willis and Michael Rooker, there will be 140+ hours of new content to debut in 2022.
Tubi
Tubi is a free video streaming service that includes on-demand access to 200,000+ movies and TV episodes - more than any other streaming service. Its ad breaks are shorter and less frequent than most free services. Fox executives have called their service “TV on steroids.”