Fox's free streaming service Tubi has reached new heights in 2024, attracting 97 million monthly active users and accumulating 10 billion streaming hours. This marks an impressive 24% increase in users from 78 million in 2023.
The platform's success highlights the growing appetite for free, ad-supported streaming services. Since Fox Corp.'s $440 million acquisition in 2020, Tubi has transformed from generating $150 million in revenue to a projected $1 billion in 2024.
The streaming service has particularly resonated with younger audiences, with over 34% of viewers aged 18-34. According to a November MRI Cord Evolution Study, more than half of Tubi's viewers are Gen Z or Millennials, and nearly half represent multicultural backgrounds. The study also revealed that 77% of Tubi viewers do not subscribe to cable services.
Unlike traditional streaming platforms, Tubi focuses primarily on on-demand content, with 95% of viewing occurring through this format. The platform hosts an extensive library of over 275,000 movies and TV episodes, including more than 300 original productions. Fans of R.L. Stine's beloved "Goosebumps" series have reason to celebrate. The original television adaptation that captivated audiences in the 1990s is now available for streaming on Tubi, free of charge.
Tubi CEO Anjali Sud attributes the platform's success to its viewer-first approach. "Our strategy is simple yet powerful: put viewers first by offering unique stories from unique storytellers, a vast selection of content to choose from and a delightful experience across devices," Sud stated.
The platform's original content has gained notable traction, with one in four viewers engaging with Tubi-produced shows. The young adult romance "Sidelined: The QB and Me" set viewing records for the platform during its premiere week in November.
As traditional TV networks face declining audiences due to cord-cutting, Tubi's growth demonstrates the shifting landscape of entertainment consumption, particularly among younger viewers seeking free, accessible content.