Ad-supported video service Tubi broke its own audience records in May: Tubi, which positions itself as a free alternative to Netflix, surpassed 20 million monthly active users last month, the company said Monday.
The service’s users viewed more than 94 million hours of programming in May, according to Tubi, which also claimed to have brought in more revenue during the month that during any other month in its history. Tubi has yet to release any actual revenue numbers.
“Tubi has made remarkable strides in the first half of the year, further demonstrating the vitality of AVOD in an environment fatigued by the amount of subscription video options,” said Tubi CEO Farhad Massoudi in a statement. “Our recent deals this year with NBCUniversal, Lionsgate, Warner Bros., and others resonated very well with our customers, and we’re excited to provide even more premium content this year.”
Tubi struck a deal with NBCUniversal in February, getting access to close to 400 movies and TV show episodes from the media company. Earlier this year, it announced plans to spend more than $100 million on content licensing deals. The company said Monday that it now has over 15,000 movies and television series, equaling more than 40,000 hours of content, available for free.
Tubi is just one of a number of ad-supported video services looking to compete with Netflix and other paid streaming services. It’s a space that has seen some significant acquisition activity in recent months: In January, Viacom acquired ad-supported video service Pluto for $340 million. And in March, Sony spun out its ad-supported video service Crackle into a joint-venture with Chicken Soup for the Soul.