Tubi
San Francisco, California
Tubi is Fox Corporation's free ad-supported streaming service, ranked among the top free-streaming platforms in the United States with more than 100 million monthly active users, more than 1 billion monthly hours watched, and approximately $1.1 billion in fiscal-year 2025 revenue at 19% year-over-year growth. CEO Anjali Sud, who joined in September 2023 from Vimeo, has driven the platform to back-to-back EBITDA-profitable quarters and is the named voice on Fox's free-streaming-first thesis.
Tubi is the free ad-supported streaming service that Fox Corporation acquired in March 2020 for approximately $440 million and has since scaled into the operational evidence behind Fox’s broader free-streaming-first thesis. The service was founded in 2014 by Farhad Massoudi (with co-founder Thomas Ahn Hicks) and grew into one of the leading FAST and AVOD platforms in the United States — by May 2025 it had crossed 100 million monthly active users, surpassed 1 billion monthly hours watched, and was generating approximately $1.1 billion in fiscal-year 2025 revenue at 19% year-over-year growth and 27% engagement growth.
The leadership change at the top is the editorial inflection point. Fox moved Massoudi out and brought in Anjali Sud, the former Vimeo CEO who took that company public on Nasdaq in 2021, as Tubi’s Chief Executive Officer with a September 1, 2023 start date — reporting to Tubi Media Group CEO Paul Cheesbrough. Sud’s on-the-record framing on appointment was that ‘the future of streaming TV is free,’ a deliberate positioning signal for how Tubi would compete against the SVOD-tier-plus-ads model the rest of the industry was rolling out. The numbers under her tenure have backed it: back-to-back EBITDA-profitable quarters, the Fast Company 2026 Most Innovative Companies cover, and a sustained content-and-engagement growth pattern that runs against the consensus framing of free streaming as a discovery layer rather than a destination.
Tubi reports through Fox Corporation’s quarterly disclosures rather than as a standalone filer; revenue, MAU, and engagement breakouts surface in Fox’s quarterly investor materials and in the Fast Company / Variety / Hollywood Reporter coverage Tubi participates in directly through Sud and Cheesbrough.