The free streaming video platform Tubi (powered by ad serving) plans to start creating original content soon. The service, according to the authoritative resource Bloomberg, will start with films, but is also considering launching a TV show and negotiating partnerships with potential advertisers.
Fox acquired Tubi for $ 440 million in March last year to carve out its own niche in the streaming market. Prior to this purchase, Fox had no streaming offerings of its own. Fox said at the time that it plans to offer Tubi users a ton of its old TV series and movies for free, as well as start streaming some sports programming.
A year ago, there was no talk of Tubi going into the creation of original content to try and compete with established pay streaming platforms like Netflix or Hulu. However, earlier this week, Fox CFO Steve Tomsic said during an investor conference that the company will eventually begin releasing exclusive content for Tubi, although any shows or films will be cheap and entertaining, not high-budget offerings like for larger services.
“I emphasize that it will be economically beneficial”, – added Tomsik. Fox expects Tubi to generate $ 300 million in ad revenue in the current fiscal year, the executive said. As of December, Tubi had 33 million active users, up 65% from a year ago.
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