According to the latest news, free streaming platform Tubi is getting into original programming. Bloomberg reported this citing sources familiar with Tubi’s plans. Most likely, Tubi is going to start with original movies but will also explore episodic TV shows. The report claims that as of now, Tubi is speaking with potential advertisers about partnerships.
In an attempt to get into the streaming wars, last March, Fox Corporation acquired Tubi with a $440 million deal. Note that before the acquisition of Tubi, Fox did not have its own streaming services. At that time, Fox said that it has plans to offer a large number of its older shows and movies and sports programs to Tubi subscribers for free. At that time, there were no talks regarding Tubi creating original content to compete with the likes of well known paid streaming platforms like Netflix and Hulu.
Earlier this week, during an investors’ conference, Fox Corporation CFO Steve Tomsic said that the company would eventually create original content for Tubi. He revealed that all the shows and movies would be “cheap and cheerful” and the company would not promote big budget offerings. Tomsic said, “I stress it’s going to be cost-effective.”
Tomsic revealed that in the current fiscal year, Fox expects Tubi to generate an ad revenue worth $300 million. Last December, Tubi reported 33 million active users which was a year on year increase of 65 percent.