Tubi
Tubi sees 44% growth in total viewing time, surpasses 5BN streaming hours
Tubi has released its annual audience report on the streaming industry, showing the explosive growth in connected TV (CTV) ad spend, while ad-supported video-on-demand (AVOD) services are leading the streaming pack as consumers look to cut subscription costs.
The Stream 2023: Actionable Audience Insights for Brands found Tubi’s Total Viewing Time (TVT) is up 44% year-on-year (2022 calendar year vs 2021), with more than 5 billion hours streamed in 2022, and the platform audience has grown surpassing 64 million monthly active users. Tubi’s audience continues to be young and increasingly diverse, with African American and LGBT audiences grew over 50% in 2022, and audience growth exceeding 25% in each major level of household income and the Hispanic demo.
More than in three (36%) Tubi streamers are between the ages of 18 and 34. Tubi is proud to offer consumers free access to more than 50,000 titles from 455 content partners as well as a growing curated FAST offering watched by one in five AVOD streamers in the past 12 months.
A key trend revealed was that cord-cutting continues and CTV ad spend is on the rise: Three quarters of consumers agreed that AVODs are a practical alternative to cable and satellite TV. As CTV advertising continues to grow, funding isn’t just coming from linear budgets – this year significant digital video, social media, OOH, and traditional media dollars shifted to CTV.
SVODs curbing password sharing may increase churn: 35% of streamers access other people’s digital video streaming services and 45% of streamers want to stream without having an account. SVODs aim to curb these losses by charging accounts shared across multiple households, which is expected to increase churn.
“As subscription costs continue to rise, nearly 1 in 3 streamers plan to reduce spending on streaming services this year,” said Tubi chief revenue officer Mark Rotblat. “With consumers turning to AVOD to complement the select SVOD services they choose to keep, Tubi offers a brand-safe environment for advertisers looking to tap into an incremental, young, diverse, and highly engaged streaming audience.”
