Tubi Sees 34% Increase in Active Monthly Users, Strengthened by Growing Library
As part of FOX’s earnings report for the final quarter of the company’s 2022 fiscal year, the company’s ad-supported video-on-demand (AVOD) streaming service Tubi reported a 34% increase in monthly active users, leading to a 40% jump year-over-year and a 45% increase in terms of revenue. In the previous quarter, the streamer had 51 million active users and FOX stated that Tubi was a major driver of the corporation's revenue.
During a call with analysts following the release of the quarterly report, FOX CEO Lachlan Murdoch noted that both Tubi’s active users and revenue exceeded expectations and the free streamer will continue to be a focus for the company moving forward.
“We will continue to invest judiciously in Tubi with our sights set on achieving $1 billion in revenue run rates in the next couple of years,” the executive said.
Recent data suggests that users are becoming more interested in free streaming services. Free ad-supported TV (FAST) streaming services, like Tubi, continue to grow in popularity with an almost 20% increase in streaming over the past two years.
The company execs touted Tubi’s addition of 25 linear channels during the quarter as one reason for the increase in active users. The streamer also expanded its on-demand library to more than 45,000 titles and debuted 13 original titles during Q4.
The Fox-owned service has been expanding its offerings to reach a larger audience in recent months. In June, Tubi and Lionsgate inked a multi-year deal to bring a selection of movies to the ad-supported platform. Plus, later this year, World Cup matches will be available to stream on-demand on Tubi after the live Fox Sports broadcasts end.
Last month, Tubi added a new channel featuring a 24/7 stream of Gordon Ramsay content. The channel features FOX-Ramsay collaborations including “Hell's Kitchen,” “Kitchen Nightmares,” “Masterchef,” “Masterchef Junior,” and others.
Tubi’s success so far suggests that FASTs are a major part of the future of streaming. However, executives have mixed feelings about whether FASTs will completely replace broadcast TV. Either way, FOX has invested heavily in the service as of late and will likely continue to do so as the streaming landscape continues to evolve.
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.”