Fox Corp.’s Tubi had 3.6 billion hours streamed in 2021, a 40% increase over 2020, as overall viewing migrates from subscription to free and ad-supported services.That’s one of the main findings in an annual report released by Tubi and highlighted by Fox executives during the company’s fiscal second-quarter earnings call.
Fox reported a 9% uptick in revenue during the quarter, to $4.4 billion.Growth in the company’s library, now at 41,000 film and TV titles, helped propel view time, CEO Lachlan Murdoch said. “While some companies are focused on multi-billion-dollar content investments in search of subscription streaming growth, Tubi continues its unrelenting focus on advertising video-on-demand with a strategic, measured investment approach,” Murdoch said during a conference call with Wall Street analysts.According to the Tubi report, which relied on data from research firm MarketCast, SVOD audiences grew by 8% in 2021, while AVOD increased by 16%.
Ad revenue tells an even more slanted tale, with connected TV and OTT revenue climbing 34% last year, compared with a 7% gain for national broadcast and cable.Beyond the continued expansion of Tubi, which Fox bought for $440 million in 2020, the category has seen considerable investment of late.
In the past two years, NBCUniversal has rolled out Peacock, Discovery launched Discovery+ and ViacomCBS rebranded and expanded Paramount+.
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