Tubi Streaming Hours Jump 40% In 2021 With AVOD Viewing Poised To Overtake SVOD This Year
09.02.2022 - 17:49
/ deadline.com
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+. Along with more established AVOD players, from Roku to Pluto to Crackle, AVOD viewership overall will surpass SVOD in 2022, the Tubi report predicts.
While the rising tide of ad-supported streaming is lifting Tubi, the report notes it has unique reach. About 71% of the service’s viewers are not paying for cable TV and 56% of them do not watch linear