Fox Corporation is restructuring its digital operations by forming the Tubi Media Group as Farhad Massoudi, founder and CEO of Tubi, is leaving the company. The Tubi Media Group will be led by Fox Corp. CTO and President of Digital Paul Cheesbrough
The Tubi Media Group will be led by Fox Corp. CTO and President of Digital, who has been named CEO of the unit which will sit alongside sports, news, entertainment and TV stations.
Since being acquired by Fox, Tubi has grown its footprint through access to Fox shows and content library deals and has ventured into original programing, largely movies produced by Fox-owned Mar Vista Entertainment. In its first year as part of Fox, Tubi more than tripled its upfront revenue and has regularly been listed as a main revenue driver during Fox’s quarterly earnings reports, growing 400% overall since joining Fox and recently crossing the 1% Nielsen rating threshold.
Going forward, Tubi will stay the course, doubling down on the current strategy set by Cheesbrough and Massoudi and further increasing the number of originals, while keeping autonomy within the new Fox business unit. Through Tubi, Fox was an early AVOD adopter before the model was fully embraced by almost all major streamers, including Netflix, and Cheesbrough, who has overseen the acquisition and management of Tubi, remains bullish on the platform’s future amid an industry-wide streaming reckoning.
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