Why Fox’s Tubi success is driving the launch of a new video app

If you’ve been hearing a lot about Tubi lately, you’re not alone. This free streaming service owned by Fox Corp. is making waves, with more hours streamed in December than big names like Paramount+, Peacock, or Max. And just recently, Tubi played a role in the Super Bowl’s massive viewership, drawing in a record audience.

Despite not being as famous as Netflix or Disney+, Tubi boasts a whopping 97 million monthly active users as of January, up from 78 million in March 2024. It may not have as many paid subscribers as Netflix or Disney+, but it has the largest content library of any streaming service, with about 250,000 movies and TV episodes available.

Streaming the Super Bowl for free earlier this month was a game-changer for Tubi, bringing in 15.5 million viewers and contributing to the record-breaking 127.7 million total audience for the big game. Not to mention, Tubi’s total viewing time jumped by 57% in Fox’s fiscal 2024, and ad revenue soared by 31%. Tubi is hitting the sweet spot with younger audiences who are moving away from traditional cable.

So why is Fox launching a new streaming platform if Tubi is doing so well? The details of this platform are still under wraps, but it’s clear that Fox sees the value in expanding its reach beyond Tubi’s existing audience. Despite Tubi’s success, Fox believes that there’s still more ground to cover and more viewers to capture.

The question on everyone’s mind is, why fix something if it isn’t broken? Analysts have a few theories. Fox might be planning to offer its premium content on its new platform and merge all its existing apps into one subscriber base. Or, it could be aiming to grow its subscriber count separately and potentially offer bundled pricing in the future, much like Disney has done with Disney+ and Hulu.

Streaming is a competitive space, and Fox’s move to launch a new platform is part of a broader strategy to stay relevant and reach viewers across different demographics. By tapping into the success of Tubi and venturing into new territory, Fox is positioning itself to compete with the big players in the streaming world.

While we may not have all the details about Fox’s new platform just yet, one thing’s for sure – the streaming landscape is evolving, and Fox is ready to make its mark. Keep an eye out for updates on Fox’s upcoming offering and see how it’s shaping up to be a game-changer in the world of streaming entertainment.