×
You will be redirected back to your article in seconds

Tubi TV Raises $20 Million for Ad-Supported Video Service, Plans to Open Los Angeles Office

San Francisco-based video service Tubi TV has raised a new $20 million round of funding in a round led by Jump Capital, with participation of Danhua Capital, Cota Capital and Foundation Capital. The company wants to use the new cash infusion to grow both its staff and its user base, Tubi TV CEO Fahrad Massoudi told Variety Tuesday.

This will include Tubi’s first major marketing efforts. “No spray and pray marketing,” said Massoudi. The goal was instead to target the service’s user base, which he described as “middle class America” — budget-conscious consumers who have cut the cord and don’t want to pay expensive subscription fees for streaming content.

Tubi TV launched three years ago with a focus on free, ad-supported movies and TV shows. Initially, that catalog was dominated by B-movie fare, but the company has since struck licensing agreements with MGM and Lionsgate to stream some of their catalog titles for free to its users.  Currently, Tubi TV’s catalog includes titles like “Gladiator,” “The Silence of the Lambs” and “School of Rock.”

Massoudi didn’t share any absolute user numbers, but said that Tubi TV’s number of monthly active users has grown ninefold over the past year. Absent of any hard data, app store rankings do suggest that the company is finding an audience for its service: Earlier this year, app intelligence vendor App Annie told Variety that Tubi TV was handily surpassing streaming services like NBCUniversal’s Seeso, Chernin Group’s Crunchyroll and Warner Bros.’ DramaFever in app downloads in 2016.

Popular on Variety

To prepare for further growth, Tubi TV also wants to scale up its team of 50, Massoudi said. Part of these efforts will be the opening of a new office in Los Angeles. The company is currently headquartered in San Francisco, and maintains satellite offices in New York and Beijing.

More Digital

  • PewDiePie aka Felix KjellbergFelix Kjellberg 'This

    PewDiePie Announces He's Taking a Break From YouTube in 2020

    The gamer behind YouTube’s most-watched channel, PewDiePie (real name Felix Kjellberg), announced in his latest Pew News video, posted Saturday, that he is planning to take a break from the platform next year. Towards the end of the video, which slams YouTube for its inability to effectively enforce its latest policy updates, Kjellberg says, “I [...]

  • Cenk Uygur

    Bernie Sanders Retracts Endorsement of Young Turks Founder Cenk Uygur After Backlash

    Bernie Sanders pulled his support for Cenk Uygur’s congressional bid, with the Vermont independent in part acknowledging that Sanders’ supporters were “frustrated” about the endorsement. Sanders, who’s running for the 2020 Democratic presidential nomination, cited Uygur’s announcement Friday that he would not be accepting any endorsements. In a statement, Sanders alluded to sexist and other [...]

  • Tana MongeauStreamy Awards, Arrivals, The Beverly

    Streamy Awards 2019: The Complete Winners List

    The 9th Annual Streamy Awards — honoring the best from YouTube and online video — were held Friday night in Beverly Hills. Tana Mongeau (pictured above) was named Creator of the Year and Rhett & Link’s “Good Mythical Morning” won Show of the Year in the two fan-voted Audience Choice categories. David Dobrik picked up [...]

  • NBC News - Quibi

    NBC News Digital Workers Form New Union

    A group of approximately 150 editorial workers who help produce some of NBC News digital content have formed a union, citing a desire to push their employer to work more seriously through such issues as equal pay and the recent handling of sensitive stories. Editorial employees of NBC News Digital won certification of their union [...]

  • Fox Nation Tests Holiday Programming

    Fox Nation Tests Holiday Programming

    The Fox Nation streaming-video service has long been touted as a new option for super-fans of the Fox News Channel. But some of the broadband hub’s new programming choices suggest adherents of “Fox & Friends” and Sean Hannity aren’t looking solely for chatter about politics and interviews with members of the Trump administration. Subscribers to [...]

  • Facebook

    FTC May Stop Facebook From Integrating Whatsapp, Instagram

    The Federal Trade Commission (FTC) is weighing whether it should seek an injunction against Facebook to prevent the social media giant from integrating services like Whatsapp, Messenger and Instagram with its core app, according to reports from the Wall Street Journal and the New York Times. Regulators fear that Facebook’s app integration plans could make [...]

More From Our Brands

Access exclusive content