Fox Corporation’s free streaming service Tubi, which has attracted millions of users with a mix of old movies and reruns, plans to start funding original programs — a sign of its mounting ambitions after a year of record growth, Bloomberg reported.
After relying primarily on existing shows like “The Masked Singer,” “MasterChef” and “LEGO Masters,” Tubi is now planning to create original content. Apparently, it will initially focus on movies, but it is reportedly considering TV shows and may be willing to pay up to $4 million per episode. There is no information yet about titles or release windows.
Steve Tomsic, Chief Financial Officer at Fox Corporation, recently acknowledged talks about producing Tubi originals, although he did not mention the kind of content or exact spending. He did, however, say the company would "cost effectively explore shows and avoid the all-out productions you see on subscription services”.
Tubi has grown rapidly since Fox took control, with the company recently predicting that its revenues would more than double in the current fiscal year to more than US$300 million. In its Q2 results in February, Tomsic mentioned that the platform would “become a $1 billion business in a few years,” and last week, during an analyst discussion, he assured the streamer’s revenues would surpass those of the Fox network over time.