Tubi will be launched in additional international territories this year, and the first is expected to be announced in the first quarter. It is currently available in the US and Canada.
Streaming platform was profitable in the fourth quarter of 2018 and will invest its profits in content acquisition this year. As reported, it will make ‘a millionaire number’ inversion to quickly expand its catalog. Company’s revenue grew by 180% in 2018 and, only in the fourth quarter, it earned more revenues than all of 2017 together. AVOD platform is supported by Foundation Capital, Cota Capital, Jump Capital and Danhua Capital, as well as investors MGM, Lionsgate and TEGNA Ventures.
‘We had a pronounced growth in 2018, while subscribers looked for entertainment alternatives’, said Farhad Massoudi, CEO of Tubi, who added that ‘we will continue using profits to bet more on content, improving TV experience and entering new areas with our main advantage: technology and data’.
Looking ahead to 2019, Tubi also announced that it has closed a financing agreement with Silicon Valley Bank for USD 25 million to finance content acquisition and marketing.
Tubi’s offering includes more than 12,000 movies and TV programs from almost all major Hollywood studios, and about 40,000 hours content. It is possible to enter it through several devices and applications, such as TVs Samsung, Roku, Amazon Fire TV, Comcast X1, iOS, and Android, and others.