Tubi is on a tear.
The Fox-owned free streaming platform now has more than 110 million monthly active users, CEO Anjali Sud tells The Hollywood Reporter, and this morning the company will report that its Q2 was the highest revenue quarter in its history.
Tubi last reported MAUs last year, when it topped 100 million, and now has more than $1 billion in annual revenue.
“It really feels like we are seeing both in Tubi’s results and in the market a clear validation of a strategy that Tubi has believed in and been executing for over a decade, which is the power of free streaming, and our belief that consumers — especially this next generation — increasingly want premium entertainment, they want choice, they want it to be on-demand, and they don’t want to have to pay more and deal with rising prices and paywalls and fragmentation,” Sud tells THR in an interview, noting that other platforms like Disney are contemplating free tiers, while other premium players like Netflix push into the ad-supported business. “I think it’s encouraging that others are seeing the potential that we’ve long believed in in free streaming, and I think it’s validating that that is where the market is going.”
“Our audience is growing 14 percent but our engagement, our time watched, is growing even faster, growing 17 percent, and I think what we like to see is both of those things growing at the same time in concert, because it means that we’re not only bringing in more audience, but we’re also keeping them and entertaining them, and they’re finding value and staying,” she adds.
