Fox Corporation Buys Ad-Supported Tubi Streaming Platform for $440 Million

[MacRumors]

Fox Corporation has bought streaming platform Tubi, an ad-supported service that hosts over 20,000 movies and television shows (via Variety).

The $440 million acquisition represents the media conglomerate's first major move in the streaming market. Fox will inherit 25 million Tubi users and a veritable catalog of content, including movies and shows from over 250 content partners including Warner Brothers, Paramount, Lionsgate and NBCUniversal.

"Tubi will immediately expand our direct-to-consumer audience and capabilities and will provide our advertising partners with more opportunities to reach audiences at scale," Fox CEO Lachlan Murdoch said in a press release. "Importantly, coupled with the combined power of FOX's existing networks, Tubi provides a substantial base from which we will drive long-term growth in the direct-to-consumer arena."

Fox plans to host its own content on the platform, although original programming does not form part of its short-term plans. Fox will use the acquisition to compete with other free ad-supported streaming services like Pluto TV, Comcast's Xumu, and Sony-owned Crackle.

Fox sold its 5 percent stake in Roku to help fund the acquisition, according to Variety. Under the terms of the deal, Tubi will remain an independent service, so it won't come under the Fox name, but Fox will offer a large number of its older TV shows and movies for free to Tubi subscribers.

Tubi can be accessed via the web, on set-top boxes including Apple TV, and on mobile devices including through the use of its native iPhone and iPad apps.

Article Link: Fox Corporation Buys Ad-Supported Tubi Streaming Platform for $440 Million

 

[iRutherford]

Fox really shoot themselves in the foot by selling the bulk of their properties to Disney. They have decades of content that are innovative, provocative and award-winning (20th Century Fox, Searchlight and FX mostly). They could have just sold the Marvel and Star Wars properties to Disney. That's all what they're really after. Apart from Avatar, Ice Age and arguably, The Simpsons, they don't really have anything that's very Disney.

Fox News, Fox Sports and the Fox channel cannot keep Murdoch's empire afloat. They also left just when prestige TV and film's popularity are rising at an all-time high. That's what they're very good at. They could have easily wrecked everyone else.

 

[Morgenland]

Time is Money. Spend your time on ads.

 

[Solomani]

Never even heard of it. Is it a competitor to services like NetFlix, AppleTV+, Disney+?

 

[finbred]

That's a great name. In Finland tubi is commonly the short of choice for tuberculosis.

 

[4jasontv]

That's a great name. In Finland tubi is commonly the short of choice for tuberculosis.

I read it as tub-ee. Where I am from it is a derogatory name for an overweight child.

 

[hagjohn]

Never heard of it before. How many of these things do we need?

 

[AxiomaticRubric]

Meet the new Fox Tubi! The same free Tubi you used to love for only $29.99 per month!!! 🎉

 

[oldtime]

Tubi is actually pretty legit for a free streaming service. They have a lot of great titles. Lots of older, foreign, and indie stuff that services like Netflix and Hulu rarely carry anymore. Hoping they don't get gimped by Fox in some way.