Tubi now has 80 million average monthly users, up from 67 million a year ago, parent company Fox said, with a 36% year-over-year uptick in platform usage driving revenue up by more than 22% from January to March.
That’s in the face of a down fiscal Q3 for Fox’s broader television segment, which saw a 22% decrease in quarterly revenues due to the lack of the Super Bowl.
Fox CEO Lachlan Murdoch said in the company’s quarterly financial report that those losses would have been even greater if they weren’t “offset by continued growth at Tubi.”
Also read: Fox Has Net Income of $666 Million in 3rd Quarter
In the latest iteration of Nielsen’s “The Gauge” report, which tracks market share for total U.S. TV viewing, Tubi accounted for 1.6% of all U.S. TV watching in March.
That puts Tubi ahead of other ad-supported streaming services including Peacock, Roku Channel and Pluto TV, and even subscription streaming platforms like Max and Paramount Plus.
Murdoch noted that in March 2023, the Tubi accounted for only 1% of total American viewing.
“Tubi finished only marginally behind Disney Plus in market share,” Murdoch said, noting that Tubi's expansion was “faster than any streaming service during the same time.”
Murdoch also revealed on the company’s earnings conference call that 90% of Tubi viewing is on-demand, meaning customers seek out and actively engage with the content they’re watching, rather than just turning on a live channel.
“It’s very important,” Murdoch said, "because when the viewing comes on demand as opposed to passively sitting back and watching our FAST channels, that’s much more valuable to advertisers.
“We are looking forward to showcasing Tubi’s strengths at next week’s upfronts,” Murdoch added.
