Tubi TV Raises US$20 Million in Round of Funding
posted on by Rafael Antonio Pineda
Entertainment news magazine Variety revealed on Tuesday that streaming website Tubi TV raised US$20 million in a round of funding from Jump Capital, Danhua Capital, Cota Capital, and Foundation Capital. Tubi TV stated that it will use the funding to grow its staff and user base.
Tubi TV is a free, ad-supported streaming service that launched in April 2014. The company is headquartered in San Francisco and has offices in New York and Beijing, with plans to open a new office in Los Angeles. The service is available via an app on Apple TV, Xbox One, Xbox 360, Amazon Fire TV, Roku, Samsung televisions, and on iOS and Android mobile devices. The app analytics company App Annie told Variety in March that Tubi TV was "handily surpassing" streaming services like Crunchyroll, Dramafever, and NBC's Seeso in app downloads in 2016.
Viz Media previously announced a partnership last July with Tubi TV to stream some of its anime for free in the U.S. and Canada. Sentai Filmworks is streaming its anime on the service, and Toei Animation added 10 catalog titles last November. Tubi TV began streaming 11 titles from Funimation this week.
Source: Variety (Janko Roettgers)