FOXA - This Fox-Owned Gem Is Seeing Huge Growth
While Fox 's (NASDAQ: FOX) (NASDAQ: FOXA) recently reported fiscal second-quarter results were notable in their own right, one of the most surprising takeaways from the report was a single data point on the company's ad-supported video streaming service . Tubi saw its ad revenue grow 25% year over year, management said.
"Revenue and engagement [key performance indicators] at Tubi have far exceeded our expectations and are consistently growing in the healthy double-digit range since we acquired it almost three years ago," explained Fox CEO Lachlan Murdoch in the company's fiscal second-quarter earnings call.
Here's why this growth is so impressive -- and why Fox is excited about Tubi.
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This Fox-Owned Gem Is Seeing Huge Growth